'Dangerously low' supply of industrial space threatens Ottawa's status as rising distribution hub: brokerage
Large tenants could start looking at properties in other markets along the St. Lawrence Seaway to address surging demand for warehousing and storage facilities, new report from Colliers says.
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.
The city’s office vacancy rate edged up slightly to 9.8 per cent in the first quarter from 9.7 per cent at the close of 2021, brokerage said in its Q1 National Market Snapshot.
Long before COVID-19 became an omnipresent part of Canadian life, Meredith Thatcher could sense an emerging seismic shift in the way tenants used technology to reimagine traditional office space.
While Ottawa has maintained its status as a safe city for commercial investment, the COVID-19 pandemic has changed the way investors think about commercial properties in the capital.
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.
Real estate firm says Ottawa’s office availability rate rose to its highest level in three years last quarter.
Proposal would see three apartment highrises and a hotel with a total of more than 1,000 units constructed on vacant land south of Ogilvie Road and east of Cyrville Road.
Colliers International says nearly one-third of tenants in its Ottawa portfolio requested rent relief last month.
Activity in Ottawa’s multi-family residential market continues to heat up along the light-rail transit line, according to a new report from Colliers International