Real Estate

Empire Life, which marks its 100-year anniversary in 2023, is moving out of the iconic heritage building and office complex in downtown Kingston that has served as its home base since 1936.

Located just south of Hwy. 417 about 56 kilometres southeast of Ottawa, the facility is slated to open this spring and will serve as a parts distribution warehouse for Ford Motor Co., which has a 15-year lease on the property.

Ottawa-Gatineau’s annual pace of housing starts jumped a whopping 725 per cent in February, the Canada Mortgage...

The association says February sales were comparable to what was recorded during the same month in 2018 and 2019, before the COVID-19 pandemic.

Building owners, property managers and other Ottawa commercial real estate insiders itching to get a sense of which assets the federal government plans to offload from its downtown office portfolio in the wake of COVID-19 will have to wait a little longer.

Real estate firm Avison Young says 286 properties in the nation’s capital meet two key criteria that may make them suitable to be turned into rental apartments or other forms of housing.

In financial filings this week, InterRent REIT and Minto Apartment REIT both reported big jumps in revenues compared with a year earlier – although headwinds such as rising interest rates have boosted the cost of financing their holdings and eaten into their bottom lines.

Ottawa’s housing market showed signs of balancing out in February and could even swing back to a seller’s market if current trends continue.

Ottawa’s largest privately owned commercial property manager said Wednesday it partnered with an unnamed institutional investor to purchase a five-storey office tower and four acres of adjacent land at 1900-2000 City Park Dr. from Vancouver-based company.