Office Market Momentum: Key Trends to Watch in 2025
Insights from Ben Bach, Senior Vice President, Cushman & Wakefield Waterloo Region
The first half of 2025 has brought renewed activity in the local office market. While we haven’t quite returned to the leasing highs of 2019 or early 2020, current momentum is noticeably stronger than what we saw through 2024.
Ben Bach, Senior Vice President at Cushman & Wakefield Waterloo Region, recently sat down to share some important trends shaping the office sector today—from notable occupier purchases and rising leasing demand to how return-to-office programs and tenant expectations are evolving.
A few takeaways:
- Office leasing activity has already surpassed 2024 totals—and it’s only July.
- We’re seeing a rise in larger tenants entering the market, particularly in the tech and R&D sectors.
- Occupiers are prioritizing turnkey, well-located, and hospitality-focused spaces under 3,000 SF.
- Class A buildings continue to drive most of the purchase activity.
- Return-to-office programs vary widely, but most firms are asking for 2–3 in-office days per week.
But this is just a glimpse.
Watch the full video below to hear Ben’s in-depth take on the forces shaping leasing decisions, sales activity, and occupier trends across Waterloo Region.
