CHALLENGE

McMaster Innovation Park (MIP) was made aware Torstar, owner of the Hamilton Spectator, was about to put the Hamilton Spectator building overlooking Highway 403 on the market for sale. The building’s signature location, power supply and its proximity to internet service providers made it an extremely desirable acquisition target for MIP who also recognized they needed commercial real estate advisory services to ensure their bid was properly positioned.

SOLUTION

The Lab Occupier team was retained to act on MIP’s behalf and a building valuation and acquisition strategy was created to ensure MIP’s bid was based on the most current market intelligence.

RESULTS

MIP was able to purchase the asset and is converting the building into a shared wet lab facility with associated office and amenity space for tenants in biotech and life sciences.