Two downtown office towers totalling more than 300,000 square feet at 400 Cumberland St. and 77 Metcalfe St. have sold for a combined $60 million.
Rising labour costs caused the capital to fall slightly in the affordability category compared with the previous year.
Ottawa-born BeaverTails is among the chains that are looking to expand their national footprints as consumers start shopping and eating out in greater numbers.
Jennifer Cross, through her new role with MARANT Construction, is now helping clients reconceptualize what their offices could look like.
One prominent retail analyst says the move could pave the way for a new wave of residential development at the site, which includes about 170,000 square feet of commercial space.
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.
Real estate investment trust is shopping for more warehouse and other commercial space in the National Capital Region as it looks to shift its portfolio away from retail holdings.
Coming off a record year in 2021, local sector will continue to benefit from attractive cap rates, solid market fundamentals and a backlog of capital, firm says in its latest outlook.
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.
Downtown vacancy rate of 9.9 per cent last quarter was the third-lowest in North America behind Vancouver and Toronto, real estate firm CBRE says.