CHALLENGE

Casebank Technologies relocated from Brampton into 6205 Airport Road with the assistance of the Wilson team in 2007 and contacted Mr. Wilson in early 2015 when their landlord approached them about renewing well before their lease expiry in 2017. The tenant suspected the landlord was of the opinion they did not have to do a renewal at rats that reflected market because Casebank had suggested they were not interested in relocating so they asked the Wilson team to assist in determining what additional financial and strategic concessions might be available over and above the landlord’s initial proposal.

SOLUTION

A space needs analysis completed by the Occupier team determined the tenant could occupy fewer square feet of office space in a more efficient building so initiated an RFP from competing landlords. With this market data in hand CBRE then approached the incumbent landlord to discuss renewal terms.

RESULTS

The client obtained an additional leasehold improvement allowance and reduced their occupancy costs by 13% over the landlords original renewal proposal.