Category - Office-market
Weekly ‘Roundup’ of real estate news from Waterloo Region and Guelph
Nine articles from the week of April 27th to May 3rd
Waterloo, developers working things out on Northdale appeals
The City of Waterloo is hoping it can settle appeals of its plan for the Northdale neighbourhood without a long battle at the Ontario Municipal Board. The Record
Controversial Guelph student housing proposal gets municipal board approval
A big hurdle seems to have been cleared over a controversial proposal to develop a student housing highrise across from the University of Guelph campus. Guelph Mercury
Property owners take city to municipal board over driveway
Controversy over a driveway has landed the City of Waterloo at the Ontario Municipal Board. The Record
Nothing plain about Jane’s Walk
Hot on the heels of Doors Open Guelph is another opportunity to see places and learn the stories of city you can’t find in a history book. Guelph Mercury
Taxpayers take hit for industrial and multi-residential properties
Homeowners will have to shoulder a bigger share of the property tax burden this year after city council decided Monday to shift some of the burden off of industrial and multi-residential properties. Guelph Tribune
City chiefs pitch joint economic development plan for all of region
In the next two months, city officials will consider an unprecedented move — working together on economic development and a strategy for industrial land. The Record
Value Village store proposed for St. Jacobs power centre
The power centre in St. Jacobs would see the addition of a Value Village location and a rearrangement of the Walmart store to allow for more grocery items under a plan introduced this week at Woolwich council. Observer Xtra
Office comforts without ties to the office
If you are running a small business, you may already be making regular trips to Staples for office supplies but thanks to a new project launched this week you can virtually operate your business from there as well. Guelph Mercury
Knape & Vogt to close Kitchener plant; 200 workers affected
U.S.-based manufacturer Knape & Vogt says its Kitchener plant will soon shut down, putting more than 200 people out of work. CTV News
278 Pinebush Road, Cambridge
Last week I toured a client of mine through the available office space at 278 Pinebush Road,
Cambridge and then attended their Broker Open House the following day.
This building was formerly occupied by iQor Canada a call centre that at its peak occupied approximately 600 employees. iQor officially vacated the building in December 2011 leaving this 55,000 sq ft building vacant and ready for new tenants. The landlord undertook to convert the building from a single tenant to multi tenant and created a common lobby with an updated modern design. The landlord has since successfully leased up 11,000 sq ft to e-Sentire a growing local IT security company and is looking to fill the remainder of the building.
The property is well located with easy access and visibility to Highway #401 and provides ample on site parking. Currently the vacancy rate in Cambridge sits at 22.4% which represents approximatley 262,436 sq ft.
There are a number of of large blocks of space within the Cambridge market however this building is a good option for tenants who require some flexibility for expansion and see value in locating themselves along the #401 Corridor which stretches from Townline Road in Cambridge to Homer Watson Boulevard in Kitchener.
The Exchange @ 630 Weber Street North, Waterloo
We attended a broker open house last Friday, hosted by Cooper Construction and CBRE, to formally launch the leasing of the first phase of “The Exchange”.
The development, located at 630 Weber Street North, Waterloo, is planned for 3 office buildings totalling approximately 200,000 sq ft. The first phase is under construction now and will be ready for tenants to begin improvements later this fall.
630 Weber Street North Ltd. acquired the 15 acre site from Leggett & Platt in March of 2011 for $5,525,000. The 153,000 sq ft former plastics manufacturing facility has since been demolished to make way for the new office development.
This development continues the trend in our market and particularly in the Waterloo sub market towards the redevelopment of strategically located former industrial properties for other uses including retail and office.
