More tech companies setting up shop in Kitchener
Posted Feb 28, 2014 08:19:38 AM.
This article is more than 5 years old.
It looks like Kitchener is taking the lead from Waterloo in the tech office market.
Once seen as the place to be, Waterloo’s popularity is falling to Kitchener, who offer work and play space all in the same area.
That according to Karl Innanen, Managing Director for Colliers International in Kitchener Waterloo.
The new information was presented at Colliers fifth annual Market Outlook for Waterloo Region.
One of the topics that has everyone talking is BlackBerry selling its properties. Innanen says despite the sales, Kitchener is fairing well.
Google just leased 185 thousand square feet in the Breithaupt Block.
He says even though people are leaving BlackBerry and the company is giving back space, they have left a legacy in the incredible number of tech companies who have set up shot in the region
Innanen says filling the space will be a challenge but there are good people who are leaving BlackBerry that will be very hirable for new or expanding companies.
It was a near record year for investment sales in the Region. Life insurance companies, institutional pension funds, publicly traded companies and real estate investments funds spent $760 million in investment real estate.
