Room to Grow

Client
  • MEG Energy Corp.
Space
  • 296,159 sq. ft.
Industry
  • Energy
Locations
  • Calgary
Services Provided
  • Transaction Management
  • Consulting
Cresa Team
  • Damon Harmon

Client Objectives

  • Analyzed MEG's immediate and project growth and space utilization
  • Determined that they required significantly more space than initially planned immediately and on a long-term basis
  • During the strategic planning stage, it became clear that the building they currently occupied would not accommodate their growth plans beyond 2019
  • A review of MEG's long-term forecasts determined that approximately 300,000 sf would be required along with expansion options

Results

  • Cresa provided a comprehensive list of market options for existing buildings along with new developments that could accommodate MEG's requirements
  • Cresa and MEG quickly determined that a newly constructed building would be the best option
  • The new development, Eau Claire Tower, that was chosen held all of the same geographical amenities as the building that they resided in
  • Negotiations resulted in several *** including building naming rights, 5 & 10 year expansion options and rights throughout the building
  • MEG is now confident that their growth will be provided for and that their company can remain intact in a contiguous space going forward

Eau Claire Tower

Eau Claire Tower

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