CHALLENGE
Based in Victoria, British Columbia, Voxcell BioInnovation creates novel test platforms for the drug development industry and the field of oncology research. The company had outgrown their current facility and contacted the LabOccupier team for assistance with their real estate needs because of our focus on the life sciences sector.
SOLUTION
Jim Wilson flew to Victoria to meet with the client while the LabOccupier team researched the market for rate, absorption and vacancy data. The unique nature of VoxCell’s lab and office requirement and its need for an above-average floor load capacity limited the number of potential alternatives. A shortlist of options was toured and it was quickly determined that staying and growing in the current building was the logical option.
RESULTS
VoxCell BioInnovation was able to significantly increase their real estate footprint and negotiate a long-term lease at below-market rates. In addition, to ensure future growth would not be inhibited an option to terminate was negotiated at very favourable terms.
