Case Study: L3 Wescam achieves $10M in savings through rapid lease financing with Cresa

L3 Wescam - Customer Case Study

L3 Wescam, an aerospace business in Toronto, occupied 237,115 sq. ft. across three buildings and faced rapid headcount growth (from 741 to a projected 1,639) while needing a consolidated facility with unobstructed sightlines for camera testing. They engaged Cresa for market assessment and investment banking services to identify a new 300,000 sq. ft. build-to-suit location and developer.

Cresa identified the developer and land for the >$130 million CAD project and executed a Letter of Intent; when the developer lost financing, Cresa’s investment banking team secured lease financing in the bond markets within four weeks. Cresa’s intervention saved L3 Wescam $10 million versus the executed LOI and kept the consolidation project on track.

L3 Wescam