Retired VP of retail at Colonnade BridgePort to continue raising funds for Royal Ottawa Foundation for Mental Health
All told, tenants shed nearly 800,000 square feet of office space last year ​– the highest net negative absorption of real estate in Ottawa since 2002.
Deal for 12-storey office building at 81 Metcalfe Street is valued at nearly $12.5 million.
REIT says it’s agreed to sell a 50 per cent non-managing interest in retail centres Carrefour du Versant, Place Nelligan and Place Cit​é des Jeunes for a combined total of nearly $60 million.
Avison Young is forecasting the local vacancy rate at around seven per cent, the second-lowest among major Canadian cities behind Vancouver.
Owners of the Vittoria Trattoria restaurant want to rebuild the William Street property with a four-storey addition that would feature 16 hotel units.
It's the second major deal for an Ottawa-area property the global investment firm has announced this week.
New 25,000-square-foot facility will feature a makerspace as well as design studios, workshops and meeting areas.
With relatively little new retail space under construction that’s poised for an imminent delivery, the storefronts currently being vacated should be quickly absorbed once the economy rebounds.
Real estate firm says Ottawa’s office availability rate rose to its highest level in three years last quarter.