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Excited to hear DeepMind is expanding into downtown.
https://edmontonjournal.com/busines...-boosting-growth-in-vibrant-downtown-edmonton
'It's really fun to see': BioWare, DeepMind part of tech surge in downtown Edmonton's office market
Downtown Edmonton’s real estate market has bounced back as the oil and gas industry recovers from its recent slump, but the glow could fade in coming months.
The office vacancy rate at the end of June dropped to 12.5 per cent, down from 15.3 per cent in 2017 and far below the crushing 26 per cent vacancy rate in downtown Calgary, figures from Avison Young real estate show.
That’s the lowest figure since the pre-recession 8.8 per cent vacancy rate in 2015.
One big reason for the improvement is the growing presence of high-tech operations in the core, Edmonton Avison Young managing director Cory Wosnack said.
“Technology companies, software companies and gaming development companies, they are having a big positive impact on the office market,” he said.
“It’s really fun to see growth in this sector. For the last few years we have seen significant (energy-related) downsizing in the engineering sector … Edmonton is now starting to prove out diversification to become a tech hub of sorts in the downtown core.”
Wosnack has seen a half-dozen outfits in this field take downtown space in the last six months, and expects another half-dozen deals in the next few months.
The action includes a planned expansion by Google’s DeepMind, the world-leading artificial intelligence firm that opened its first research lab outside London in Edmonton last year, and game maker Bioware’s move to the Epcor Tower from the south side set for next spring.
https://edmontonjournal.com/busines...-boosting-growth-in-vibrant-downtown-edmonton