This article is sponsored by Real Strategy Advisors.
The long-anticipated return to work has begun! Though frequently delayed by various strains of COVID-19, employers of all sectors have started the process of bringing staff back to physical office space. The big themes that have been coming out of our discussions with clients and business leaders all revolve around the desire to create space that is magnetic and gets people excited to come back to the office. At the very least, the great experiment of re-imagining office work is underway.
In our ninth issue of Real Spaces Magazine, we delve into Ottawa and Gatineau’s office market as Real Strategy Advisors reflects on the second quarter of 2022. In our newest Construction & Layout entry, we feature Englobe’s new Ottawa location with input from Vincent Martel (Real Estate Project Manager at Englobe). We hope you enjoy Volume 9!
To read the full magazine, please click here.
The value of service with Wesley Stinson (Real Strategist & Commercial Real Estate Agent)
Wes joined Real Strategy in the fall of 2019, following a demanding career in the Canadian Army. After several combat tours in Afghanistan and deployments in Kuwait, Wes completed his career working in Ukraine for the majority of 2021 to help train members of the Armed Forces of Ukraine. Now back, Wesley has been thriving helping provide Real Strategy’s clients with solutions that go far beyond square footage. We’re excited to share his story and how he transitioned the skills of an infantry officer to that of a successful commercial realtor.
To read the full profile, please click here.
Construction & layout with Vincent Martel of Englobe
Real Strategy caught up with Vincent Martel (Real Estate Project Manager at Englobe) to discuss the Ottawa lab and office project done during the pandemic. With over 150 sites in the Englobe commercial real estate portfolio, the organization is routinely required to undergo projects to outfit sites and negotiate new leases to accommodate their growth. Being a specialty engineering and environmental services firm, there were highly unique aspects to the project from the location needs to how the pandemic and its evolving restrictions were navigated.
To read the article, please click here.
Workspace inspiration gallery
In today’s hybrid work environment, it really is possible to have an office within an office! Think stylish phone booths, work lounges, team tables, and architectural frameworks that factor in everything from acoustic needs and privacy to modularity and storage options. We’re featuring solutions by Steelcase that bridge the intersections of comfort, customization, and cool that allow you and your team to focus, collaborate, or chill all within an open plan!
To view the whole gallery, please click here.
Ottawa Commercial Real Estate Market Overview – Q2 2022
The trends of downgrading or right-sizing space, upgrading quality, seeking locations with amenities, and transit accessibility are still holding strong. Landlords are still opting for shorter leases, more lenient termination and sublease clauses, as well as better improvement allowances and outfitting periods. Class A property vacancies aren’t far off their historical average but the other property types are seeing almost record vacancy as their tenants ditch the old for new. That said, Class B and Class C landlords are now feeling the squeeze to put considerable amounts of investment into upgrading their properties to attract and retain tenants.
To read and download the full report, please click here.