Non-Residential

For the first time in four years, Ottawa’s office markets slowed, driven primarily by the central business district and Kanata submarkets.

The purchase of the five-storey, 163,000-square-foot property in the Kanata West Business Park enlarges Morguard’s total Ottawa portfolio to 5.5 million square feet.

Ottawa-based firm says it’s seeing “big spike in activity” from tech tenants that are downsizing their real estate footprints but still need meeting and collaboration space.

Recently constructed 163,000-square-foot office complex at 3199 Palladium Dr. in Kanata opened to great fanfare in early June.

The capital’s commercial real estate market continues to see a string of deals even as rising interest rates threaten to stall its momentum. 

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.

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.

The 5,200-square-foot warehouse, located at 2764B Sheffield Rd., is positioned to serve not only Ottawa, but other nearby metropolitan areas, the company said in a news release.

A well-known name in Ottawa commercial real estate is rebranding after becoming part of a Canada-wide brokerage network in a bid to tap into new sources of business.

Sector is “gaining momentum” thanks to a booming industrial market and a retail industry that’s roared back to life in recent months as pandemic restrictions have lifted, new report says.