Office space designed for creative and technology tenants steps from the University of Waterloo.
Waterloo, ON, June 27, 2016 – Spear Street Capital, a real estate and investment company, today 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).
“We are delighted to see the ongoing investment and development of Waterloo’s Idea Quarter,” said Mayor Dave Jaworsky, City of Waterloo. “Discovery and entrepreneurship run deep in Waterloo Region and we are pleased to welcome Factory Square and its collaborative-focused spirit that will contribute greatly to our innovation ecosystem.”
“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.
“We are excited to be a part of Waterloo Region’s dynamic growth,” said Adam Ballew of Spear Street Capital. “We look forward to achieving our business objectives at Factory Square, while having a lasting, positive impact on Waterloo Region. The activity at our properties and in the immediate area makes Factory Square and the Idea Quarter an attractive place to be for companies and their employees.”
“Factory Square will be a catalyst for market activity, economic growth and technological collaboration in the Idea Quarter,” said Karl Innanen, Managing Director at Colliers International Waterloo Region. “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. 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.”
View an exclusive video message from Hon. Bardish Chagger, P.C., M.P.
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.
Spear Street Capital and Colliers International are co-hosting an exclusive event at the property from 4:00 to 7:00 p.m. EST on June 29 to celebrate its launch. For more information on Factory Square, please visit factorysquare.ca.
About Spear Street Capital
Spear Street Capital is a real estate investment company dedicated to pursuing select office investment opportunities in the United States and Canada. Spear Street Capital focus on assets and portfolios greater than $25 million in total value, targeting well-conceived and located properties that can succeed through creative leasing efforts, physical improvements, entitlement changes or realization of adaptive re-use strategies. For more information visit spearstreetcapital.com.