Plusgrade’s search for a new head office represented an opportunity for the Montreal-based tech company to create the optimal environment for its people.
Plusgrade, which provides ancillary revenue and loyalty solutions to over 200 partners worldwide in the aviation, rail, hotel, cruise and financial institution sectors, recently signed a lease at the revitalized and historic Maison Alcan at 1188 Sherbrooke St W. The deal represents an evolution in the quality of the company’s office space and an increase in the size of its headquarters.
“Tenants these days are looking for great amenities, healthy buildings, as well as shared values and a strong partnership with their landlord, and Plusgrade’s new office is a prime example of that,” says CBRE’s Liam Mayes, who advised the company throughout the transaction.
Seeking the Right Ecosystem
Plusgrade launched in 2009 with a flexible 6,000 sq. ft. sublease space in downtown Montreal. As the business grew to include offices in Toronto, New York, San Francisco, London, Dubai, Tel Aviv and Singapore, its head office remained in Montreal. “It’s always been important for Plusgrade to stay true to their roots and have a strong presence in Montreal,” says Mayes. “They wanted their head office to be a source of pride and reflect their thriving business.”
When Plusgrade began searching for a new headquarters, Mayes suggested relocating to an office building with an ecosystem that would better complement Plusgrade’s dynamic business. One option was the recently repositioned Maison Alcan.
EA Sports, among the original anchor tenants of the campus, was reducing its footprint at Maison Alcan, which is owned by Groupe Lune Rouge, a company of Cirque du Soleil founder Guy Laliberté. This provided Plusgrade with an opportunity to take possession of a full floor with existing improvements.
Maison Alcan offers proximity to transit, ample amenities and most importantly, a tenant roster of like-minded technology companies with which Plusgrade could collaborate. Lune Rouge refers to its tenants as “residents” and seeks to bring a hospitality-like touch to its building management.
“Maison Alcan has done a great job of creating synergies between tenants and the knowledge-based workers that Plusgrade employs,” says Mayes. “It was exactly the ecosystem Plusgrade was looking for to reinforce their brand and their presence in the market.”
Amenities Galore
Amenities at Maison Alcan were a selling point for Plusgrade. Lune Rouge modernized the front portion of the complex, creating an open event space with seating and installing an interactive screen highlighting campus events and tenants. It also set up Zú, a coworking space, to act as an incubator for small creative companies looking to collaborate, seek mentorship or pitch ideas to more established firms.
Maison Alcan has partnered with Beatrice, one of Montreal's leading restaurant operators, to curate Améa Café to offer food and beverages during the day and at night and provide fine dining and professional catering options. Maison Alcan’s ground floor has become a popular spot, not just for the building’s “residents” but for the public, too. “Plusgrade has found the right building with Maison Alcan,” says Mayes. “This is an investment in employee wellbeing, creating a stronger company culture and opportunity for greater collaboration.”
Flight to Quality
Plusgrade’s relocation is indicative of the current shift toward high-quality, amenitized office buildings.
“This deal demonstrates that tenants are choosing workplaces that extend beyond the premises themselves,” says Mayes. “It also shows that forward-thinking landlords like Maison Alcan who make proactive improvements to their office buildings will meet market trends and come out on top.”
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