A spike in companies relocating from suburbia to the city centre and burgeoning growth in Kanata’s tech sector continued to shrink the amount of available office space in Ottawa this past quarter
Companies continue to struggle finding class-A space in the capital as availability rates fell in Ottawa’s largest office markets in the final quarter of 2018, according to real estate services firm…
Firms looking for showroom/warehouse space may be more inclined to explore retail options.
Space in class-A and class-B buildings is being leased at “rapid rates.”
But some question whether market can absorb flood of new units
Tech firms now occupy more real estate in the core than the legal and accounting sectors
Availability ratedips to 4.3 per cent
Colliers says shorter lease terms of three and seven years, rather than the standard five- and 10-year terms, are becoming more common.
Colliers says limited supply has some large industrial space users looking at abandoned big box retail locations.
Colliers International says the vacancy rate in Ottawa’s west-end tech hub fell to 14.1 per cent at the end of September, down from 15.2 per cent at mid-year.