Deloitte Canada says it will move as many as 700 workers to a new location in Vancouver operated by Spaces, a co-working unit of Switzerland’s IWG Plc.
The professional-services firm will be the sole tenant, occupying 78,000 square feet at the historic Tom Lee Music Building on Granville Street in the city’s entertainment district, according to a statement by Spaces.
Deloitte will move into the location this fall and remain there on a temporary lease until its new headquarters at Westbank Corp.’s 400 West Georgia tower is completed, Etienne Bruson, managing partner for Deloitte in B.C., said by phone.
Bringing co-working offices to an area known for its nightlife is “going to change the street itself,” Wayne Berger, chief executive officer of IWG Canada and Latin America, said by phone. “Spaces will be the first bridge of bringing the workforce together with this entertainment district.”
While Deloitte rents space in 15 IWG locations around the world, this is the firm’s largest agreement with the company, which also owns the Regus brand.
The deal is a big boost for IWG, a top competitor of WeWork Cos., and its ambitions to add 375,000 sq. ft. of space in Canada this year, more than quadruple the amount in 2018. In total, the expansion will bring IWG’s Canadian footprint to about three million square feet across more than 35 cities.