CHALLENGE

MeteoGroup, based in Europe, purchased a division of The Weather Network and wished to set up operations as quickly as possible in an ‘A’ or ‘B’ class building located along the QEW Corridor between Trafalgar Road and Appleby Line.  Most notably, the European parent insisted the local general manager employ what was a very restrictive (and arguably unrealistic) real estate budget for the operation based on a lease the parent company had recently negotiated in Eastern Europe.

SOLUTION

After initial discussions CBRE was retained to assist MeteoGroup in identifying their new Canadian office location. A long-term sublease was identified that had sat on the market for 9 months and the financial package negotiated by CBRE allowed the client to meet the restrictive budget imposed by its European head office. 

RESULTS

MeteoGroup was able to lease office space in the Oakville Corporate Centre on a long term basis at rates 30% below market and occupied its new location on time and below what was a very restrictive budget.