Ottawa Office Market Report Q2 2018
- Private sector tenants remain focused on increasing efficiencies in their space by transitioning to more open-concept work environments.
- The rising popularity of shared office space gives smaller tenants more options, especially in and around the core.
- Meanwhile, the public sector has been ramping up their searches for quality assets throughout the city.
- Class A and B assets Downtown have been leasing up at rapid rates, causing the overall Downtown availability to decline by 230 bps since Q2 2017.
- Ottawa’s availability has seen a steady decrease over the last year as well, and shows no signs of slowing as the city anticipates the completion of the Confederation Line light rail transit system.