CHALLENGE

Located in Cambridge, Dillon Consulting wanted to relocate into a “brick & beam” office environment in Kitchener’s downtown core to be nearer to clients and provide employees with better amenities.  In spite of a relatively high office vacancy several buildings were in the process of being retrofitted which was about to drive the market vacancy even higher.  The financial expectations of landlords were being framed by bank financing rather than office market reality.

SOLUTION

Completed a Needs Analysis that determined the tenant’s requirement at 10,000sf which is a relatively large requirement in the Waterloo Region.  An RFP was issued to establish the market for its tenancy and the competition created by the RFP process combined with our knowledge of one of the new brick and beam conversions who was –particularly anxious to lease space resulted in Dillon finding a new home in the premier brick & beam building in downtown Kitchener.

RESULTS

Leveraging the market through the RFP process Dillon negotiated a transaction in the Breihthaupt Block at rates well below the landlord’s stated financial position.