The office market in Edmonton is booming with new supply tempting residents of older buildings to move their businesses.
Despite its history, Associated Engineering will be leaving its eponymous plaza building and taking four floors of 9Triple8 Jasper later this year. A key part of the decision was the building’s greener credentials.
Other companies are also looking to upgrade their accommodation. Ian Bradley of Colliers told the Edmonton Journal: “When tenants are looking at new buildings, with all their sustainable features and low operating costs … versus an existing building that has been converted to meet all those qualities — the price point is much more attractive.”
He said that owners of older buildings will need to invest to bring their properties up to standards offered by the new builds or they will be competing with growing vacancies in older, lower-standard offices.