While Ottawa’s pipeline of new industrial real estate construction is growing, many of those projects won’t be finished until at least next year, according to a pair of new reports.
Company is a partner of one of the city’s biggest industrial acquisitions in years – the $155-million purchase of 18 small-bay properties totalling nearly 700,000 square feet.
The transaction marks the first foray into the Ottawa market for Colorado-based Woodbourne, which will hold the majority stake in the 700,000-square-foot portfolio.
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.
Crestpoint Real Estate Investments closed the deal with Ottawa’s Huntington Properties earlier this month. The four buildings, totalling about 220,000 square feet, are all leased to single tenants.
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.
Urban boundary expansion opens new opportunities to meet growing demand
Proximity to major transportation routes makes location a prime hub for logistics company, project proponents say
Local developers looking to build in Ottawa’s business parks and industrial corridors have fewer options than ever before, but municipal officials say the city still has enough land to la
Industrial space continues to become harder and harder to find for tenants in the National Capital Region.