A Survival Strategy for Class-B
Landlords of lower-quality Class-B office buildings may well fear the deluge of Class-A space coming online over the next few years in markets like Vancouver and Toronto. But repurposing or repositioning lesser office spaces to lure specific, niche industries could be the secret to survival, says Curtis Scott, Collier's Vancouver-based market intelligence analyst. "It is a viable option for some landlords," he tells us, especially landlords looking to tap into the growing trend of organizations looking for creative spaces that spur collaboration. "But it's important to understand that it restricts that building's use to a specific industry."