{"id":11968,"date":"2019-03-24T11:33:17","date_gmt":"2019-03-24T18:33:17","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11968"},"modified":"2019-03-24T11:19:39","modified_gmt":"2019-03-24T18:19:39","slug":"commercial-property-market-heavily-leans-upon-tech-companies","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/03\/commercial-property-market-heavily-leans-upon-tech-companies\/","title":{"rendered":"Commercial Property Market Heavily Leans Upon Tech Companies"},"content":{"rendered":"<p style=\"text-align: justify;\">The tech segment now serves as a vital bedrock of the Canadian commercial real estate sector, according to a new analysis by Marcus &amp; Millichap.<\/p>\n<p style=\"text-align: justify;\">In its newly released 2019 Commercial Real Estate Canada Investment Forecast study, Marcus &amp; Millichap noted that tech firms\u2019 demand for usable space will foster greater investment in the oft-ignored outskirts of major metropolitan markets.<\/p>\n<p style=\"text-align: justify;\">\u201cElevated pricing expectations and fewer high-quality listings in downtown areas motivate investors to broaden search parameters to suburban locations near major metros. Higher yields beyond the urban core will be a large driver to sales activity in 2019,\u201d the report stated.<\/p>\n<p style=\"text-align: justify;\">Moreover, tech giants such as Microsoft, Google, and Amazon \u2013 which have already taken roost in Canada\u2019s leading commercial markets \u2013 have been predicted to hire new workers in the tens of thousands over the next few years, as well as spend billions in office expansions during that same period.<\/p>\n<p style=\"text-align: justify;\">\u201cMicrosoft currently has 2,300 employees in the country and 14,000 partners, which could grow to 60,000 overall jobs between employees and partners. Amazon will also grow substantially with plans for 6,000 new jobs across corporate offices in Vancouver and Toronto and multiple new ful\ufb01llment centres,\u201d the report explained.<\/p>\n<p style=\"text-align: justify;\">Toronto, as a globally acknowledged leader in innovation, will immensely benefit from this trend.<\/p>\n<p style=\"text-align: justify;\">\u201cMicrosoft, Intel, Uber and others have plans to increase operations in the city and bring on new workers. Additionally, in recent years an abundance of international retailers have made a push into Canada, often landing on Toronto when deciding on their \ufb01rst location in the country.\u201d<\/p>\n<p style=\"text-align: justify;\">\u201cSidewalk Labs, a sister company to Google, will undertake one of the greatest projects as they transform Toronto\u2019s waterfront to a smart city of the future, which will be anchored by Google\u2019s new Canadian headquarters.\u201d<\/p>\n<p style=\"text-align: justify;\">Montreal hosts two of Canada\u2019s top-tier universities, along with a burgeoning artificial intelligence R&amp;D scene. This is \u201cencouraging the development of new purpose-built rentals to meet the growing demand. Rental rent growth will remain robust this year despite a new delivery high for the current cycle, drawing more investment capital to the apartment sector.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/commercial-property-market-heavily-leans-upon-tech-companies-255391.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">Commercial Property Market Heavily Leans Upon Tech Companies<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tech segment now serves as a vital bedrock of the Canadian commercial real estate sector, according to a new analysis by Marcus &amp; Millichap. In its newly released 2019 &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/03\/commercial-property-market-heavily-leans-upon-tech-companies\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-11968","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Commercial Property Market Heavily Leans Upon Tech Companies &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/03\/commercial-property-market-heavily-leans-upon-tech-companies\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Commercial Property Market Heavily Leans Upon Tech Companies &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The tech segment now serves as a vital bedrock of the Canadian commercial real estate sector, according to a new analysis by Marcus &amp; Millichap. In its newly released 2019 &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/03\\\/commercial-property-market-heavily-leans-upon-tech-companies\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/03\\\/commercial-property-market-heavily-leans-upon-tech-companies\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Commercial Property Market Heavily Leans Upon Tech Companies\",\"datePublished\":\"2019-03-24T18:33:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/03\\\/commercial-property-market-heavily-leans-upon-tech-companies\\\/\"},\"wordCount\":370,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/03\\\/commercial-property-market-heavily-leans-upon-tech-companies\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/03\\\/commercial-property-market-heavily-leans-upon-tech-companies\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/03\\\/commercial-property-market-heavily-leans-upon-tech-companies\\\/\",\"name\":\"Commercial Property Market Heavily Leans Upon Tech Companies &#8226; 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