Looking back on 2022, Ottawa’s commercial real estate market has been slowly stabilizing. Disruptions due to the pandemic are still at play but the declining use of office space is remaining consistent. With organizations standardizing hybrid work, Real Strategy anticipates this reduction in tenant demand to continue. In this issue, we break down the final quarter of 2022 and the latest office market trends. You’ll also be introduced to our client Orangutech who’s recently moved into some well-deserved Magnetic Space.
Click here to access the magazine and to read up on the latest office market trends.
Magnetic Space With Lachlan Henderson of Orangutech
Real Strategy caught up with Lachlan Henderson, President at Ottawa-based tech firm Orangutech. Having now moved into their new office on Metcalfe Street, we wanted to reflect on the journey that was creating a communal and collaborative office space in the heart of downtown. The goal? Something that employees would find inviting, engaging, and multi-functional… in a word, magnetic!
Click here to read the full article.
Workspace Inspiration Gallery
Move over IKEA! Today’s modern hybrid workplace needs to feel both sleek and inviting. That’s why we’re featuring a range of Knoll products that bridge function with comfort. There are homey workstations that feature floating shelves with gorgeous wood grain. There are even adjustable tables with customizable presets and cantilevered chairs. Point is, we’ve got your office furniture inspiration and needs covered.
Click here to view the entire gallery.
Ottawa Commercial Real Estate Market Overview – Q4 2022
Canada’s economy experienced downward pressure in Q4 2022 and the outlook continues to be precarious. The good news: Ottawa’s combination of public, tech, and professional services sectors makes the city resilient. Speaking of the public sector, the federal government announced its return-to-office directive in December. This was welcomed news from the downtown business community and the two to three days in-office expectation is on par with the hybrid work trends being adopted. With office tenants almost universally requiring less space, we expect increased vacancies to continue for the next 12-18 months.
Click here to access and download the report.