November 2013 | Kitchener, ON
Perimeter Development continues to invest in the Region of Waterloo with their newest acquisition, brokered by Colliers International: a twelve-storey office tower located at 305 King Street West in Kitchener. Originally designed by world-class architect Webb Zerafa, the building was constructed in 1968 to serve as Waterloo Trust’s Canadian headquarters and holds heritage value for its modern architectural style.
Located in the heart of Kitchener’s “Innovation District” and just steps away from the future light rail Transit Hub, this downtown landmark building offers great potential, according to Perimeter. Craig Beattie, Founding Partner at Perimeter Development, commented, “305 King is one of the best located urban office buildings in the Region. We’re excited to breathe new life into the building and create a new style of office space for the market”. The company has begun to upgrade office suites, building exterior common areas and building amenities.
As the trend towards creative, brick and beam office spaces grows, aging office towers in the downtown core have seen a slight, but steady decline in demand. Ripe for change, Perimeter plans on reversing this trend with the re-invention of 305 King.
John Lind, Senior Sales Representative at Colliers International, commented, “As companies continue to push criteria for work environments, ‘typical’ office environments have fallen out of favour. Perimeter Development has a plan to transform 305 King Street into a place where people want to work.”
“Brick and beam space has been extremely successful in our region, but great work environments are not limited to one type of building. 305 King Street will be Perimeter’s most audacious project to date.”
Nearly 67,000 square feet of office space is currently available for lease in the building. Plans for the main floor include a best-in-class restaurant and high-end café.