The CAPE had grown substantially since subleasing its current offices and projected a need to accommodate a larger number of employees in the coming years, while containing their costs during a difficult economic time in Ottawa.
CAPE occupied a full-floor of BcIMC’s prestige office complex, in Ottawa. The organization required assistance with its office lease renewal in 100 Queen Street, a building owned by BcIMC Realty and managed by Bentall Kennedy.
While the CAPE was growing and needed to accommodate an increasing number of employees, it also needed to manage its operational costs during a difficult economic time in Ottawa.
Our Team leveraged the soft demand for space in the real estate market to CAPE’s advantage. We understood that CAPE’s Landlord, BcIMC, had some significant exposure around the same time as CAPE’s lease expiry, and we were able to leverage this information into a very aggressive lease renewal proposal from BcIMC.
Through an early negotiation, leveraging the soft market conditions, CAPE was able to renew its office lease with a design for a new office configuration that allowed it to significantly reduce the accommodations-cost per employee, while remaining a tenant of one of Ottawa’s most prestigious address.