Jones Lang LaSalle’s inaugural Canadian High-Technology Office Outlook is a comprehensive study of one of the most dynamic and innovative industries in Canada. Recent news has been focused on the future of Canada’s once dominating cell phone producer, BlackBerry Limited, but often overlooks businesses on the rise. There is still a growing high-technology industry presence in Canada, with many established companies in Toronto and Ottawa and a range of industries such as gaming, multimedia and service oriented companies in Calgary, Montréal and Vancouver.
Today, location plays an important role in the success of a high-technology company. Whether it’s a start-up capitalizing on the proximity of venture capitalists, a company in search of the best and brightest, or an established brand continuing to expand, operating in the right market with the right office space is paramount to future growth, success and sustainability. This report takes a closer look at high-technology clusters in the markets of Toronto, Ottawa, Montréal, Calgary and Vancouver, analyzing their diverse nature, occupancy patterns and future outlook.
- Several established high-technology firms have signed leases in new downtown developments across the Canadian office markets. However, there is still clustering among start-ups and young high-technology firms in downtown peripherals, often in unconventional spaces which support collaboration, innovation and creativity.
- In 2012, $719 million in venture capital was obtained by technology firms in Canada, an increase of six percent from 2011.
- Rental rates in core high-technology markets increased 5.6 percent from a year earlier, while the average Canadian asking rate increased only 1.9 percent during this period.
Read the full report: Canadian High-Technology Office Outlook
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