Canada’s high-tech hubs are moving closer to their downtown cores in Ottawa and Vancouver, mirroring a similar trend in the United States. That’s largely due to the demands of the IT industry’s own workers, suggests Colliers’ recently published High-Tech Movement report.

“Many tech companies have come to realize that their major assets are not the products or services they offer, but the pool of talent that develops and enables these offerings,” says Colliers International managing director Kevin Holmes.

Public transportation, access to amenities and flexible workspaces play a key role in attracting top talent.

“As a result, more traditional factors such as competitive lease rates, spacious parking and lower taxes that used to entice companies into the suburbs are not as differentiating anymore,” Holmes adds.

Companies such as Microsoft, Google, Twitter, LinkedIn and Sony Pictures demonstrate this trend in Canada.

“The migration of tech companies into the downtown core is not consistent and still varies in scope and intensity between various cities,”  Holmes acknowledges. “Nevertheless, the reasons that started this movement are expected to endure. For landlords with relevant properties, it means another stream of potential tenants from an industry traditionally located outside of the city centre.”