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Ottawa Office Market Report Q4 2021

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research article

Ottawa’s office market continues to adapt to the new realities of the hybrid work environment, especially with the emergence of the Omicron variant delaying return-to-office plans. 

  • The overall vacancy rate increased by 42 basis points (bps) to 9.7%, while the overall availability rate increased by 87 bps to 12.3% in Q4 2021. 
  • Overall available sublet space decreased by 11,078 square feet in Q4 2021 and now makes up only 14% of all available space compared to 15% one year ago.
  • Overall net asking rates decreased by 1.7%, down to $16.67 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.
  • Downtown office tenants continue to right-size their office premises and, in some cases, are taking the opportunity to move from Class B to Class A buildings.
  • As more companies shift to a hybrid work model, allowing employees to split their workweek between the office and home, the demand for suburban offices is rising.
 

Ottawa Office Market Report Q4 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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Leo Lee

Directeur national Opérations, Recherche | Canada

Toronto West

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