Laurier Avenue complex and other aging federal properties could be sold to the private sector as the feds look to modernize their portfolio, the Ottawa Real Estate Forum heard this week.
Vancouver firm is far from the only real estate company looking to grow its portfolio in a red-hot market where a shortage of supply has pushed rents near record highs.
Local developer Joey Theberge purchased Fisher Heights Plaza on Baseline Road in a deal that closed last week.
The city's overall office vacancy rate fell to 9.7 per cent, marking the first net absorption of office space in the capital since the fourth quarter of 2019.
KingSett Capital is now sole owner of the region’s second-largest shopping mall after purchasing Ivanhoe Cambridge’s 50 per cent stake in the west-end plaza.
John Zinati is one of a growing number of local real estate executives who’ve left comfortable, secure jobs at established big-name companies to start their own brokerages and advisory firms.
High demand, rising rents and the recent successes of other projects are leading to speculative developments picking up across the city, particularly near 400-series highways.
The citywide office vacancy rate rose to 9.8% at the end of June, up from 9.6% in the first quarter.
Company founded in 2018 closed deal for 12-storey office tower at 141 Laurier Ave. W. last week as it looks to expand its portfolio and branch out into multi-residential development.
Ottawa's overall office vacancy rate stood at 9.8 per cent at the end of June, up two-tenths of a percentage point, but amount of empty space in the core declined.