SIDEBAR: Region of Waterloo market conditions
- Waterloo Region is known as Canada’s Technoligy Triangle (CTT). CTT partners with the cities of Cambridge, Kitchener, Waterloo and the townships of North Dumfries, Wilmot, Wellesley and Woolwich.
- Waterloo Region has access to over 2.7 million people within a 45 minute drive, and is an ideal gateway to markets around the world.
- Waterloo Region is home to Google, Desire2Learn, BlackBerry, OpenText, Sybase iAnywhere, Christie Digital, Sandvine, COM DEV, Dalsa, Agfa HealthCare.
- The City of Kitchener offers a comprehensive package of financial incentives known as the Kitchener EDGE (Encouraging Development for Growth Efficiency) to assist local businesses in successfully reaching their goals.
- Good parking, and access to public transit.
- Contains Waterloo Region’s largest urban office market.
- Almost equally divided between suburban and downtown market.
- Largest downtown market in Waterloo Region.
- Downtown Kitchener is undergoing revitalization.
- Prominent Brick & Beam node developing – former factory buildings converted into office buildings hosting information industry and art and design workspaces. Projects include 72 Victoria St S, the Tannery, and the Breithaupt Block, all located in the “Warehouse District” (also known as “innovation District”) which also includes The School of Pharmacy.
- Highest number of underground and covered parking garages in Waterloo Region.
- Highest vacancy rates in Waterloo Region.
- Lower CAM and taxes as compared to Kitchener and Waterloo.
- Relatively small market for the Region.
- Best access to Hwy 401 in the Region.
- High number of owner occupied buildings.