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Waterloo Office Market Report Q3 2023

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research article

Conestoga College continues to dramatically expand its footprint in markets across Waterloo Region, Guelph and Brantford with over $92 million in investment spread across 10 properties.

  • These properties range from office, industrial, apartment, and retail buildings. Breaking this down by municipality there’s over $14 million in four buildings in Brantford, recent potential expansion into Guelph with the acquisition of the former Co-operators Company office building at 130 Macdonell Street for almost $27 million and just under $51 million invested in the Waterloo Region in four buildings and 0.4-acres of commercial land.
  • The challenges faced by landlords in Downtown Kitchener due to the persistent vacancy of large office spaces require innovative solutions and strategic planning. To entice potential tenants, landlords must consider offering increasingly attractive incentives.
  • Investment activity within the Region’s office market is picking up with more sale transactions in Q3 than all Q1 and Q2 combined particularly in the months of August and September as interest rates remain steady since the previous hike in July.


Waterloo Office Market Report Q3 2023

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Pour plus d’informations, veuillez contacter:

Bobby MacDonald

Managing Director, Brokerage | Southwestern Ontario

Waterloo Region

Bobby MacDonald serves as the Managing Director, Brokerage for Southwest Ontario.  In this role, he leads the Kitchener/Waterloo  and Burlington teams in setting the strategic plan to grow revenue, market share, and serve our clients to the highest possbile standards. 

Bobby is an experienced leader with over 20 years managing operations, sales, and client relationships. Prior to joining Colliers in 2022, he was the Director, Operations for NTT’s Millennium 1 Solutions. In his role, he managed frontline customer service in core verticals of Financial Services, Retail, eCommerce, Telecommunications and Government. He was responsible for site launches and recruitment in Thunder Bay, Sudbury, Quebec, and various teams throughout Manila and South Africa.

Bobby's ability to create strong relationships with key landlords, tenants, and brokers has been a great accelerator in his day to day activities and career.

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Adam Jacobs

Head of Research | Canada

Toronto Downtown

Colliers Canada's head of research, leading a cross-country team of 20 mapping, analytics and research professionals. Formerly head of Canada research at Cushman Wakefield and Director of Analytics at Oxford Properties. Featured in mainstream publications such as the Toronto Star, industry publications and podcasts. Specializing in the big picture and the fundamentals driving real estate - demographics, the macro environment and the global economy. 

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