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Ottawa Office Market Report Q3 2021

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research article

For the first time since the onset of the COVID-19 pandemic in Q1 2020, Ottawa's office market saw increased leasing activity this quarter, which resulted in positive absorption and decreased vacancy and availability rates for the Downtown and Suburban markets.

  • Overall availability decreased by 61 basis points to 11.4% in Q3 2021.
  • The most significant decline in availability was in the Kanata Class A market, where availability fell by 573 bps to 8.7% because of 93,722 square feet of positive absorption.
  • Overall net asking rates decreased by 1.2%, down to $16.93 per square foot this quarter, due to more available space in Class B and C buildings.
  • Class A asking rates are stable, due to landlords preferring to negotiate instead on terms.
  • As COVID-19 case counts increased towards the end of Q3 2021, many companies have pushed their return-to-office plans to Q1 2022.

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Ottawa Office Market Report Q3 2021

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Warren Wilkinson

Managing Director, Ottawa

Ottawa

Company Experience

Warren joined Colliers International in January of 2005.  After ten years as a leasing expert in the greater Ottawa area, Warren started the transition from Sale Representative to Managing Director.  Backed by a strong clientele basis and a working knowledge of the brokerage business, Warren has grown the Colliers Ottawa thought experience and mentorship. 

Prior Experience

After an extensive working experience in Sydney, Australia with the Attorney Generals office in the Compensation Courts of New South Wales, Warren returned to Canada to begin his career in Commercial Real Estate.

Professional Accomplishments

Described by his peers as an eager, passionate worker, Warren is concentrating his efforts on continuing to be a purposeful, strong leader in the Ottawa Commercial Real Estate marketplace.  Warren is always looking for new and positive ways to help grow the Ottawa office’s brand and reputation as the city’s leading, fully integrated commercial real estate firm. 

Education

Warren is an Ottawa native who obtained his Bachelor of Arts degree in Law from Carleton University in the year 2000.

Affiliations

Warren is actively involved in several sports leagues, a volunteer with Kanata Minor Hockey Association (KMHA), Kanata Little League Baseball Association (KLLBA) and is a member of BOMA Ottawa and the Ottawa Board of Trade.  In addition Warren is a proud alumni of Fight for the Cure – participant.

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Roelof van Dijk

Senior Director, National Research & Analytics | Canada

Toronto Downtown

As Senior Director, Research & Analytics | Canada, Roelof leads the strategy and operation of Colliers Canada Research, delivering market intelligence initiatives that give Colliers and its clients a competitive advantage. He focuses on developing a high-performance national research team that leverages Colliers’ best-in-class market intelligence to produce relevant insights on local and national market and industry trends that inform client decisions, address market needs and support Colliers’ growth strategies.

Roelof has 15 years of experience covering the Canadian commercial real estate market. Prior to his career in commercial real estate, he also worked as a project manager and urban planning consultant for residential developers across the Greater Toronto Area.

Roelof is regularly cited in national publications, such as The Globe & Mail, CBC News, Bloomberg, Reuters, Maclean’s Magazine and the National Post, as well as in local outlets across Canada.

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