Office Space News
Regus Opens Executive Office Suites in Toronto
Published August 25th, 2010 by Jennifer LeClaire
Intelligent Office has been spreading its wings in Canada. Looks like Regus took notice. Regus is also on the move in Canada. The serviced office giant opened a new full-service business center in Toronto, citing strong demand for flexible workplaces. Regus now has 29 business centers in Canada.
Regus’ newest executive office suites facility is strategically located at Yonge Street in the North York section of Toronto at 5700 Yonge. The serviced office facility offers Yonge offers fully furnished and equipped private office space, meeting rooms, video communications services and a business lounge.
“Toronto, and in particular, North York, presents endless business opportunities,” says Barry Weighell, Regus’ vice president of Operations for Canada. “Major multinational corporations have established their Canadian head offices along Yonge Street, including Procter & Gamble, Nestlé and Xerox.”
Toronto’s Timing
Toronto, along with Vancouver, are the two Canadian cities leading a post-recession rebound. Toronto boasts one of the most diversified economies of any city-region in North America. The city ranks in the top five for more than 16 business sectors compared to other North American cities. The city is considered the heart of Canada’s economy comprising 11 percent of the country’s GDP.
Regus cites a spike in consumer enquiries from Canada, with a high concentration in Toronto, as a major factor leading to an additional location in the region. And Regus isn’t stopping at 5700 Yonge. The office space giant also plans to open a new Metrotown location in Burnaby in September.
“For businesses looking to enter or expand in North America, Toronto is an attractive choice for companies of all sizes,” says Weighell. “Its highly educated workforce, proximity to key U.S. markets and its business-friendly environment puts companies in a position to succeed.”
Regus Moves
The Canada Regus serviced office openings are part of an overall North American expansion strategy for Regus. By the end of 2010, the company expects to operate 460 centers across North America.
What I’ve noticed is a strong move by serviced office providers to put deeper down roots in Canada. When the likes of Intelligent Office and Regus are both citing a growing demand in Canada’s metros for business centers, you can be sure that there is opportunity. It will be interesting to see if other serviced office providers follow suit and drive north of the border to explore opportunities in Canada.
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Bill Brookshire August 25th, 2010 at 2:46 pm
Very interesting. When Intelligent Office started its expansion plans in Canada, it got my attention. Now that Regus is also expanding there, it’s a clear trend. I know Davinci has a pretty good presence there in major cities in Canada. I am not sure how the serviced office boom compares between Canada, Asia, Europe and the U.S., but it’s clear that business centers are focusing their efforts a lot in Canada lately.
Elizabeth Sanchez August 25th, 2010 at 3:09 pm
I think Regus will probably dominate in Toronoto, Vancouver, etc. also. But if the demand is that great, it will be a rush to the market to see who can get there first. Intelligent Office seems to have a head start there, compared to other serviced office providers. Could it be a head-to-head, toe-to-toe combat between Regus and Intelligent Office? I’d love to watch that one.