This bodes well for the cities’ commercial property markets
Several major Canadian markets were cited as among CBRE’s 20 top tech talent cities in North America, a development that bodes well for their commercial sector activity.
Evaluated in terms of supply and concentration of tech talent, market growth, quality of higher education, industry outlook, and many other factors, the CBRE list hailed Toronto, Vancouver, Montreal, and Ottawa as among NA’s best tech industry destinations.
Toronto was the top contender at rank 3, surpassed only by Seattle and the San Francisco Bay Area. Over the last few years, the GTA has often been a top choice among international firms expanding into Canada.
Earlier this year, Avison Young described the market as a “tech-industry success story.”
“The GTA is not a single option but, rather, offers a wide variety of submarkets giving information and communications technology (ICT) firms the range of real estate options and concentrations of skilled workers that the firms require to facilitate their future growth and success,” Avison Young stated.
Vancouver posted an impressive rank 12, followed by Montreal (13) and Ottawa (19).
Major tech industry players like Amazon and Apple Inc. have been moving to Vancouver in earnest, establishing major facilities that have fed into intensified demand for the city’s offices and industrial space.
Montreal brings with it an established reputation for world-class artificial intelligence research, bolstered by its unmatched selection of high-calibre universities, colleges, and tech incubators.
Ottawa’s post-secondary schools are renowned for cultivating a pool of top tech talent. In fact, the tech sector is outstripped only by the federal government in terms of office space occupied in downtown Ottawa.