Spear Street Capital, a real estate and investment company, has announced the grand opening of their Kitchener-Waterloo flagship property, Factory Square, located in Waterloo’s newly branded Idea Quarter. Building on the demands of a highly entrepreneurial region that requires collaborative environments to facilitate the exchange of ideas, knowledge and expertise, Factory Square is strategically nestled among the University of Waterloo, the Accelerator Centre and the Region’s new light rail transit system (LRT).
“Many of the top innovation ecosystems in the world have one thing in common: a world-class research university at their core,” said Paul Salvini, associate vice-president, Research Commercialization at the University of Waterloo and CEO of the Accelerator Centre. “Successful ecosystems require hard work and collaboration and Factory Square, just steps from the University of Waterloo, will give companies the opportunity to connect with our highly skilled talent at each stage of the business journey.”
Waterloo Region has an estimated 1,100 start-ups supported by a rich innovation community. From incubation through to maturation, businesses have access to mentorship, talent, capital and connections, all dedicated to their success. The final pillar in the ecosystem is the real estate development companies that provide ideal spaces and environments to fulfill the collaboration and integration needs of high-growth businesses.
“This building, which shifted from traditional light industrial use to modernized office space, is a perfect example of adaptive building reuse in response to tenant demand,”said Karl Innanen, managing director at Colliers Waterloo Region. “For over a decade, office space in this area was unattainable, as BlackBerry had monopolized the real estate close to the university. Strategic renovation and the addition of amenities make Factory Square a desirable, efficient place to work.”
Located at 451 Phillip Street, Factory Square offers 215,000 square feet of office space for creative/ technology companies, a juice bar, a café and a full-service restaurant. It offers a 15,000-square foot open-air courtyard, an interior lounge, ample parking and direct access to the Region’s rapid transit system (LRT). The space is open and available for tours.
For a virtual tour of Factory Square, click here.