Tech companies are challenging office leasing norms. CBRE enabled Motoinsight to achieve business goals with real estate solutions in an incredibly competitive market.
Downtown Core, Toronto, ON
Scaling technology businesses require
innovative real estate advisors to match their
dynamism and creativity.
Toronto has the lowest downtown office vacancy
rate in North America as a burgeoning tech
sector drives demand, increases competition
for space and challenges office leasing norms.
Motoinsight represents the incredible innovation
and entrepreneurial growth taking place in Toronto.
The company has revolutionized the car buying
experience and has enhanced the relationship
between manufacturers, dealerships and consumers.
Motoinsight’s success resulted in the need to hire
more talent and significantly grow their office
from 5,000 sq. ft. to 20,000 sq. ft. in Toronto’s
downtown core. In addition to more square footage,
Motoinsight needed an office solution that would be a
catalyst for employee creativity and innovation, while
also maximizing efficiency and meeting budgetary
and time constraints.
Solution & Outcome
Motoinsight partnered with CBRE’s Bethell, Cairns and
Calcutt Team in 2018. Even with limited available space
in the downtown core, the team sought to provide
Motoinsight with a holistic, long-term solution. With only
six large blocks of office space on the market at the time,
Bethell, Cairns and Calcutt tapped into their network and
worked tirelessly to produce an ideal outcome despite long
odds. Industry-leading market intelligence and broker
speed identified an upcoming vacancy that threaded the
needle in terms of location, fit-out, budget and timelines.
The significant remaining challenge was the need to align
risk-averse office leasing sensibilities with the needs of
a fast moving and growing tenant. Tech may be driving
the office market; however, it is a landlord’s market and
quality office listings are being pursued by multiple tenants
with solid covenants. CBRE was able to leverage a strong
relationship with the landlord to deliver an in-depth
overview of Motoinsight’s business plan and financial
backing. By understanding the client and having the trust
of key stakeholders, CBRE was able to bridge the gap
between landlord and tenant to ensure that challenging
lease terms were avoided.
Tech companies require brokers who understand the tech
sector, can move at their pace and are able to educate
stakeholders about this growing segment of the market.
The partnership between Motoinsight and CBRE represents
both the next generation of office users and the evolution
of real estate services to support them.
“CBRE’s Bethell, Cairns and Calcutt
Team understands the needs of
scaling technology businesses. They
move as quickly and effectively as
our fast-growing business.”
Leslie Wong, COO, Motoinsight
“We love the opportunity to work
with innovative, fast-paced clients
because they push us to be at the
top of our game. We care and