Miza Pharmaceuticals - 6,077 SF

The Challenge 
As a result of a recent business acquisition in the U.S., and a pending asset purchase in the U.K., Miza Pharmaceuticals was poised for a growth spurt that would require a significant expansion of their Bay Street Toronto head office. Miza was eager to move forward despite several uncertainties in their growth requirements. The key challenge was to co-ordinate the growth of their business, the hiring of new employees and the arrangement of debt/equity financing in conjunction with the acquirement of a new office facility. The layout and design of new premises was largely undetermined and dependent on these issues. Miza was further constrained by budget limitations and location. The principals of the company had recently moved to Toronto and were unfamiliar with the local markets.
 
 
The Solution 
CB Richard Ellis conducted an extensive survey of the GTA and provided a comprehensive review of the initially desired Bloor Street office district. However, upon additional evaluation of costs, employee commuting patterns, and access to major transportation routes, it was determined that the North Yonge Corridor, at the junction of Yonge Street and Highway 401, was clearly a better fit.

After further research, touring and analysis 4950 Yonge Street was chosen as the most desired alternative. The premises was in a "base building" condition and hence offered Miza the flexibility of designing the premises to their exact specifications. More importantly it created the extra time they needed to assess their design and layout requirements. CB Richard Ellis was able to mitigate issues regarding demolition and restoration, an existing tenant's First Right of Refusal, financial conditions, tenant versus landlord's work, and timing for construction, fixturing and occupancy.