CBRE will relocate its Waterloo Region operations to Allied Properties REIT’s 72 Victoria St. building in Kitchener, Ont. The new office will act as its flagship tech space in Canada.
“Our new location in Kitchener is centre ice in one of the most important tech markets across Canada and we are excited to invest in this market. The transformation of Kitchener-Waterloo into one of the major engines of innovation within the Canadian economy is truly remarkable and, with CBRE’s global connections, we see others joining this wave of growth for the region,” says Mark Renzoni, president and CEO of CBRE Canada, in a statement.
The company says Kitchener-Waterloo has emerged as Canada’s most prominent and active start-up hubs with tech employment topping 30,000 in the city and over 2,000 new start-ups created in the last five years. New infrastructure is being delivered to the region, including new rapid transit, with 72 Victoria St. set to benefit from its proximity to the upcoming ION LRT system, the company says.
“Our new office is an important part of our commitment to the ongoing evolution of the Kitchener-Waterloo market and the tech industry as a whole. We advise our clients each and every day about real estate strategies and investment opportunities and our new office will be a showcase for best practices and real estate services,” says Peter Whatmore, managing director of CBRE in Southwestern Ontario.
Michael Emory, Allied’s president and CEO, says, “The fact that CBRE has selected a restored heritage building for its flagship tech space in Canada is testament to the transformation of workspace globally. The fact that CBRE has selected downtown Kitchener is a testament to the burgeoning talent pool that has enabled Kitchener-Waterloo to evolve into one of the major centres of innovation in Canada.”
CBRE’s Canadian Workplace Transformation program is a national project to reimagine its workplaces across Canada “with the goal of creating the workplaces of the future and the healthiest office environments in the country,” the company says. Starting in 2015, the program has seen nine offices transformed, totaling over 130,000 square feet and over 700 employees.
The buildings feature:
- Universal access to natural light for all employees.
- Ergonomic sit-stand desks that reduce sedentary behaviour.
- Noise-attenuating technology to reduce background noise, cited as a leading cause of workplace stress.
- The Rise Café, a central point to encourage socialization and collaboration among employees.
In Canada, CBRE Limited employs over 2,000 people in 22 locations.