Non-Residential

Ottawa’s office vacancy rate continued to climb in the second quarter, CBRE said in its latest Canadian market report, with the downtown office vacancy rate surpassing 15 per cent for the first time since the company began tracking the statistic in 1996.

With the Ottawa Senators’ ownership situation seemingly now settled, speculation is turning to where the team’s next home rink might be located – and the concept of building a new arena in the heart of downtown is gaining steam.

A growing wave of intensification near LRT stations in Ottawa’s east end is poised to continue with a plan to build a hotel near the Taylor Creek Business Park in Orléans.

Proveras Commercial Realty announced Thursday that the 54-year-old Hamilton has joined the firm as its newest partner, bringing 30 years of commercial real estate experience to a firm that already includes well-known brokers Alan Doak, Nick Maiorino and Bruce Wolfgram. 

The head of the city’s largest property management firm says the federal government needs to be “much more transparent” about what it plans to do with its downtown office footprint so landlords can start preparing now for future vacancies.

A new report suggests Ottawa’s industrial market “may have reached a peak” after a pandemic-fuelled e-commerce boom triggered unprecedented demand for warehouse space, but it says rents are still expected to rise amid an ongoing supply shortage.

The Altea wellness and social club that is moving into the former Canadian Tire store on Carling Avenue could be the first of many businesses opting for a location near but not in the downtown core, market watchers say.

True North Commercial REIT said in financial filings this week it has agreed to sell the 11-storey Narono Building at 360 Laurier Ave. W. to an unnamed buyer for about $17.5 million.

In an email to OBJ on Monday, Group Germain’s vice-president of operations, Hugo Germain, said the Quebec-based hotel chain is still working with the Ottawa International Airport Authority on a proposal to build a 180-room Alt Hotel that would be attached to the airport terminal.

Altea Active, which signed its lease with RioCan REIT last week, will take possession of the old Canadian Tire retail store on Carling Avenue in August.