Consolidate and Relocate or Renew and Renovate?

Client
  • The Alberta Securities Commission
Space
  • 70,000 sq. ft.
Industry
  • Regulatory
Locations
  • Calgary
Services Provided
  • Transaction Management
  • Project Management
Cresa Team
  • Kendra Pinder

Client Objectives

  • Over the years, the ASC has undergone several renovations and reconfiguration projects to accommodate their growing workforce
  • This resulted in premises spread over five floors of their building, but not in one contiguous block
  • The ASC anticipated continuous growth over the next several years and needed to re-evaluate their long-term real estate strategy as their current landlord would not be able to guarantee them expansion premises

Results

  • Cresa, along with the ASC, investigated several options in the marketplace including renewing the existing lease
  • It was quickly determined that moving to a new building would create tangible savings in occupancy costs and provide an opportunity to construct new office premises with an emphasis on utilization and efficiency, improving internal communication, enhancing corporate culture and allowing for future growth

Centennial Place - West

Centennial Place - West

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