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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.

Ottawa Office Market Report Q3 2021

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Pour plus d’informations, veuillez contacter:

Warren Wilkinson

Managing Director, Sales Representative

Ottawa

Company Experience

 

Warren joined Colliers International in January of 2005 after three years in the Commercial Real Estate business. Equipped with experience in research and marketing, Warren obtained his Real Estate license in 2003, and has been concentrating his efforts on establishing a strong clientele basis while gaining knowledgeable experience from his fellow employees, past & present listings and Tenant Representation mandates.

Prior Experience

 

After an extensive working experience in Sydney, Australia with 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 in the field of Industrial leasing. Warren is always looking for new and positive ways to help grow his business while maintaining strong relationships with those clients past and present.

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 hockey coach with Kanata Minor Hockey Association (KMHA) and is a member of BOMA Ottawa.

Notable Transactions

 

Clients who have benefited from Warren’s past efforts include the following; Dymon Capital Corporation, Standard Life Investments, Colonnade Developments, Ontario Realty Corporation, PWGSC, Parkin Architects, Merkburn Realty and Baxtec Mechanical, Healthcare of Ontario Pension Plan, G&K Services and Flexmasters.

 

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