CBRE to open Flagship Tech Space in Downtown Kitchener’s Innovation District

Kitchener-Waterloo – May 18, 2017 – Kitchener’s Innovation District continues to attract global players with CBRE today announcing it will relocate its Waterloo Region operations to Allied Properties REIT’s 72 Victoria Street building. CBRE is the world’s largest commercial real estate professional services firm and 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,” commented Mark Renzoni, President and CEO of CBRE Canada.

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. Critical new infrastructure is being delivered to the region, including new rapid transit, with 72 Victoria Street set to benefit from its proximity to the upcoming ION LRT system, making this one of the fastest growth markets in Ontario.

“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,” added Peter Whatmore, Managing Director of CBRE in Southwestern Ontario.

“We’re particularly delighted that CBRE has chosen 72 Victoria for its Waterloo Region operations,” said Michael Emory, Allied’s President and CEO. “For nearly two decades, CBRE has assisted Allied in becoming a leading owner, manager and developer of distinctive urban workspace in Canada. 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.”

The Kitchener office is part of CBRE’s national program to reimagine its workplaces across Canada and it represents the ninth office to be transformed in the last two years. CBRE has emerged as a pioneer of workplace wellness in Canada by adopting a human centric approach to office design.

“We believe workplace wellness is the next frontier in office design. It has become central to all of our Canadian workplace transformations and we look forward to bringing this concept to Kitchener-Waterloo. The Kitchener-Waterloo office also represents CBRE’s first ‘brick and beam’ office transformation within our global platform, further strengthening the scope of our advisory capabilities for our clients,” commented Ashley O’Neill, Vice President of Corporate Strategy at CBRE Canada.

About CBRE’s Canadian Workplace Transformation program

CBRE 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. Starting in 2015, the program has seen nine offices, totaling over 130,000 square feet and over 700 employees, transformed to-date.

CBRE is pioneering workplace wellness through office design and the offices feature the following employee wellness features:

  • 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. The venue helps create a culture where staff are encouraged to take a proper lunch break away from their desks to recharge and refuel.

The entire lifecycle of these projects are sourced and executed by CBRE’s in-house service lines, including the development of the workplace strategy and design, project managing the procurement and construction process and, finally, the planning and execution of the physical relocation of employees.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

In Canada, CBRE Limited employs over 2,000 people in 21 locations from coast to coast. Please visit our website at www.cbre.ca.