Genome Canada was looking to capitalize on the soft market conditions created by high office vacancy in the immediate area but the dense layout of their office space and budget were factors preventing the client from generating significant negotiating leverage with their landlord on a renewal. In spite of the wealth of vacant space available, finding appropriate built out space was also a challenge and the landlord knew constructing from a “base building” condition in another location would have been cost prohibitive for the tenant.

SOLUTION

An extensive survey of available downtown opportunities was prepared by Paul Cook who leads our Ottawa Lab Occupier team and a short list of sites was toured. Financial proposals provided by short-listed landlords allowed Genome Canada to increase its negotiating leverage with its existing landlord who were determined to retain them as a tenant.

RESULTS

As a result of the competitive proposals generated by the Lab Occupier process, Genome Canada was able to negotiate a very competitive 10-year renewal without having to incur any construction or capital expenses.