Coverage commercial, industrial and residential real estate, breaking news on land development, major projects, and trends impacting real estate in the Ottawa area.
The six-storey building on Sparks Street is fully leased to Scotiabank, which purchased it in 1983 and sold it to a private ownership group a few years ago.
Montreal-based Broccolini recently filed a proposal to construct a five-storey, 3.1-million-square-foot distribution facility about a kilometre southeast of the intersection of Woodroffe Avenue and Fallowfield Road.
While housing starts were up nationally in October, there was a sharp drop in starts last month in Ottawa-Gatineau, according to the Canada Mortgage and Housing Corp.Â
Michael Pyman, Colliers’ Ottawa-based vice-president of national investment services, says there could be a significant uptick in local commercial transactions in 2025, especially if the Bank of Canada continues to reduce interest rates and it becomes cheaper for investors to borrow capital.