Crawford Adjusters: Unlocking Better Office Value
Crawford Adjusters 515 Riverbend Drive Kitchener Size 4,700 SQ. FT. Quick Facts Expansion Off-Market Opportunity Quick Timeline Long-term Sublease Services Occupier Services Crawford Adjusters: Unlocking Better Office Value
How GHD Optimized Office Space for Better Results
GHD 261 Martindale Rd St. Catharines Size 8,886 SQ. FT. Quick Facts Global Account Expansion Services Tenant Representation Market Research How GHD Optimized Office Space for Better Results
Soletanche Bachy Canada Builds a New Home for Growth
Soletanche Bachy Canada3 Studbaker Way Size 13,500 SQ. FT. Quick Facts Global Construction FirmFew Viable Options Services Design/Build ServicesRelocation ServicesOccupier Services Soletanche Bachy Canada Builds a New Home for Growth
Pioneer Energy: Creating More Value From Office Space
Pioneer Energy 1122 International Blvd. Burlington Size 20,000 SQ. FT. Quick Facts Corporate relocation Services Tenant Representation Market Research Pioneer Energy: Creating More Value From Office Space
DeLage Landen’s Path to Better Workplace Outcomes
DeLage Landen 1235 North Service Rd W Oakville Size 27,000 SQ. FT. Quick Facts Relocation Lease Buyout Services Market Research Occupier Services DeLage Landen’s Path to Better Workplace Outcomes CHALLENGE DeLage Landen was located in a B class building in a non-desirable location and wanted to relocate, expand and do a longer term lease The Wilson team was retained to do a market survey and the alternatives available in the market were not ideally suited for the tenant. SOLUTION The Wilson team was aware of an ‘off market’ shadow opportunity in an A class building where an existing tenant was considering relocation but still had a relatively long lease term remaining. RESULTS The Wilson team was given permission by the existing tenant to approach their landlord and discuss a termination of their lease. At the same time the Wilson team worked with DeLage Landen and the landlord to negotiate an Offer to Lease conditional on the Landlord getting control of the space in their building. DeLage Landen was able to relocate into larger premises in a better quality building when no market options were publicly available.
How Altana Pharma Navigated a Competitive Office Market
Altana Pharma 451 North Service Rd. Oakville Size 40,000 SQ. FT. Quick Facts National Account Client Services Tenant Representation Design-Build Services Market Research How Altana Pharma Navigated a Competitive Office Market CHALLENGE Altana Pharma was located in a ‘B’ Class building in Burlington and was growing but there was no further room in the building in which to expand. Due to the size, location and building quality of the few existing building options in the market within which the tenant could relocate the tenant was concerned they would have to relocate into a lesser-quality building in a non-desirable location. SOLUTION The Wilson team was retained to assist and through a detailed market search discovered a small number of existing buildings that had vacancy coming available and land options that could accommodate office design-build. Recognizing there was enough time remaining on the tenant’s lease to accommodate construction of a new building, an RFP was issued to existing buildings and design-build options to create a competition for the tenant’s occupancy. RESULTS The RFP between existing and design-build options created ideal financial leverage for Altana Pharma to relocate into affordable ‘A’ class space that was the first office design-build in Oakville in over a decade.
How MeteoGroup Secured the Right Space to Support Growth
MeteoGroup 710 Dorval Dr. Oakville Size 4,100 SQ. FT. Quick Facts New Canadian Office Services Tenant Representation Market Research How MeteoGroup Secured the Right Space to Support Growth 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.
XTL Logistics Finds a Better Way to Secure Office Space
XTL Logistics 6790 CenturyAve. Mississauga Size 3,086 SQ. FT. Quick Facts New Office Location Uncooperative Landlord Shadow Vacancy Services Occupier Services Market Research XTL Logistics Finds a Better Way to Secure Office Space CHALLENGE XTL Logistics wanted to establish a sales office in Meadowvale on a tight timeline and identified a building near 6790 Century on its own as the preferred option without first engaging Occupier services. Once XTL entered into negotiations the Landlord learned the tenant’s timeline was immediate and their level of financial flexibility and cooperation declined immediately. The negotiation quickly soured and XTL decided to seek an alternate location. SOLUTION XTL approached the Wilson team to find them alternative office space that could meet their timeline and budget on a significantly diminished timeline. RESULTS The Wilson team was aware of shadow vacancy on the ground floor of 6790 Century that was available immediately and XTL leased the space ‘as is.’ The client opened their office on time and on budget in better quality space in a better-quality building with a significant reduction in occupancy costs than they were previously faced with paying.
Bridgestone Finds a Better Way to Manage Office Space
Bridgestone 5770 Hurontario St Mississauga Size 16,280 SQ. FT. Quick Facts Office Renewal Services Industrial Services Occupier Services Renewal Services Bridgestone Finds a Better Way to Manage Office Space CHALLENGE Bridgestone occupied a significant part of a fully leased office building and had an additional lease with the same landlord for a large industrial warehouse in the immediate neighbourhood. The expiry dates for these leases were not co-terminus and the landlord was hoping the tenant would entertain an early office renewal that would prevent the tenant from looking at consolidating both operations into a design-build with another landlord without incurring significant expense. SOLUTION The Wilson team brought an industrial leasing expert in to help determine what if any existing industrial options were available and a request for proposals to competing landlords convinced the incumbent landlord to allow the tenant to renew both leases with the same expiry date. RESULTS Bridgestone was able to leverage their office renewal by incorporating an industrial lease into the renewal negotiation and employing market leverage to extract significantly better financial and strategic terms from their landlord.
How ATP Found Better Office Value in a Tight Market
ATP 5800 Hurontario St Mississauga Size 17,129 SQ. FT. Quick Facts Creative Negotiating Leverage Services Occupier Services Relocation Services How ATP Found Better Office Value in a Tight Market CHALLENGE ATP had purchased Casebank Software which was a client the Wilson team had originally helped negotiate a 10 year lease for office space at 6205 Airport Road. Prior to being purchased by ATP, Casebank renewed for another 10 year term and in the 2nd year of the new term was approached by their landlord on behalf of another tenant in the building who needed to expand on a very tight time line. The landlord had offered to relocate ATP into new space at 5800 Hurontario on what appeared to be attractive financial terms but the tenant was unsure the proposal reflected market or was sufficient to accommodate their leasehold improvements. SOLUTION ATP contacted the Wilson team who recommended retaining an independent space planning firm to confirm the proposed premises and allowance were sufficient for ATP’s needs. Due diligence discovered the landlord’s proposal was significantly inadequate to accommodate ATP’s requirements and new terms were proposed. RESULTS Was able to leverage the timeline, market conditions and the landlord’s desire to keep both tenants in their portfolio and ATP relocated into new, upgraded premises in a better building at a significant financial saving.