Google moves offices from Waterloo to Kitchener’s Tannery

By Benjamin Bach, the Wealth Team on June 23, 2010 in kitchener waterloo, Real Estate Investment

Big news for downtown Kitchener: Google is moving it’s offices from Waterloo’s Tech Town (in the U of Waterloo research and technology park) to the Tannery District in downtown Kitchener.

google logo 300x132 Google moves offices from Waterloo to Kitcheners Tannery

This is great for downtown Kitchener, and will prove to be especially profitable for our clients who own investment condo’s at the Kaufman Lofts (one block adjacent) and other downtown Kitchener Condos. From 570 news:

Tannery lures Google from Waterloo

“For the second time since first establishing a foothold in Waterloo Region, Google is on the move.
The internet giant set up shop on Dutton Drive in Waterloo in 2005 before moving into Tech Town in late 2007. But it appears as though Google has outgrown that 9000 square foot space as it prepares to make a move into downtown Kitchener.

570 News has learned that Google will become one of the new high tech tenants in Kitchener’s new Tannery District. Developer Cadan Inc. has already announced the imminent arrival of Communitech and Desire 2 Learn later this summer.

The $30 million redevelopment project in the former Lang Tannery will also include close to two dozen other businesses, such as a child care centre, a health care clinic and a pharmacy.

The Communitech “Hub” was made possible in part by a $26 million investment by the provincial government announced last fall. Ontario’s Minister of Research and Innovation John Milloy, MPP for Kitchener-Centre, said at his November, 2009 news conference that “Ontario is already recognized as a global leader in the digital media sector and we are sending a clear signal to digital entrepreneurs everywhere – Ontario means business. The Hub will strengthen our ability to support innovators right here in Waterloo Region and across the province, as they work to turn new ideas into new jobs and globally-competitive businesses.” Communitech announced in March that it would be setting up The Hub in 30,000 square feet of space in the Tannery at Charles and Victoria. It expects to use the space to collaborate with such companies as Research in Motion, Agfa Healthcare and Christie Digital.

When Google made the move to Tech Town in 2007 it had 12 employees in its Waterloo office. There’s no word exactly how many employees are working here today and no official date has been given for Google’s move into the Tannery building. Google’s first foothold in Canada was established in 2002 with the opening of a Toronto office. “

Google will bring in well paid residents, many of which will want to rent close to the office before they settle down and buy a property.

If you’re interested in an investment property that produces cash flow near Google, the new Medical School, and the rest of the downtown core, contact me now. We have some great opportunities.