A Montreal-based real estate investment trust has purchased an Ottawa office building near Highway 417 and Greenbank Road, bolstering the company’s portfolio in the National Capital Region.
BTB REIT said Tuesday it purchased the class-A office building at 2611 Queensview Dr. in a deal worth $21.75 million.
The four-storey building, located off Pinecrest Road across the Queensway from IKEA, has a total leasable area of roughly 77,500 square feet, according to the REIT’s website. BTB says the building is currently fully leased by tenants that include engineering consulting firm WSP, which has called the building home since its construction in 2012.
The acquisition includes excess zoned land for an additional 60,000 square feet of office space, which BTB can develop or sell off.
The purchase brings BTB’s local portfolio up to nine properties that includes a mix of commercial and industrial space as well as one office building across the Ottawa River in Gatineau.