A Vancouver cloud-linked tech giant has become the largest office tenant in Gastown, further evidence that the heritage area is emerging as a hip, high-tech hub in Vancouver.
Global Relay, which began in 2005 with 2,500 square feet at 220 Cambie Street has relocated in the same building by leasing up 62,000 square feet, reports Colliers International.
“Global Relay is one of Vancouver’s biggest success stories and their space has allowed them a competitive advantage over others looking to hire locally,” said Colin Scarlett senior vice president of Colliers International, who handled the lease.
A leading provider of cloud-based electronic messaging for the global financial sector, Global Relay has 18,000 customers in 90 countries and offices in New York, Chicago, London and Singapore.
Global Relay’s new Gastown digs reflect what Jones Lang Lasalle, in a recent High-Technology Office Outlook report, calls a “second wind” that is boosting office demand in once-struggling urban centres.
"Tech companies are looking for new locations for many reasons, not just for intellectual capital, or venture capital funding, but also for other factors such as standard of living," said Julia Georgules, co-lead of JLL's Technology research group
Gastown, with its heritage buildings, restaurants, clubs and urban vibe is considered one of Vancouver’s top hipster neighbourhoods. Global Relay’s new office includes a rooftop deck, high ceilings, the quintessential brick walls and timber beams – and even an in-house chef who makes hot meals for the mostly millennial staff.
It reflects a re-development trend in Gastown aimed squarely at the high-tech sector.
An example is Century Group, which is redeveloping the first new office building in Gastown in decades.
The Delta-based developer plans to restore the façade of 151 West Hastings Street, built 114 years ago, and build four floors of new office space behind it. The site will have a 4,800-square-foot green rooftop deck as well as amenities such as plug-ins for electric bikes, indoor and outdoor bike racks, according to Brett Walsh, Century Group’s director of real estate financing. Colliers is handling the leasing and is targeting tenants in the technology, digital media and gaming sectors, according to Colliers associate vice-president Stephen Moscovich.
