The capital’s industrial availability rate hit 2.6 per cent in the fourth quarter, CBRE said in its latest national market report, up 90 basis points from a year earlier.Â
That’s up from 10 per cent in the previous quarter and more than four percentage points higher than it was in late 2019, before the pandemic triggered a dramatic shift to remote work that hollowed out office towers across North America.
Mississauga-based real estate firm said Monday it finalized a deal late last month to purchase a 50 per cent share in Telus's Ottawa headquarters at 215 Slater St. from TD Asset Management.
Jennings Real Estate bought the 1.66-acre property just off Riverside Drive near Hunt Club Road from Franco Giammaria and his family, who opened Tudor Hall in the mid-1970s and owned and operated it ever since.
Through a creative leasing agreement, Avenue 31 is transforming a federally owned 99-acre parcel of land just inside the greenbelt into the National Capital Business Park.Â
The company said the hub will significantly expand its capacity in next-generation information and communications technology (ICT) and cyber security innovation.
As much as Hugh Gorman would love to see more tenants commit to a full-scale return to their work spaces, he knows that’s not likely to happen any time soon.