Ottawa industrial market report
Q4 2024
Ottawa's Industrial Market: New Developments Set to Ease Supply Constraints by 2025
Multi-tenant landlords in Ottawa are currently in a strong position, as tenants are generally managing rental rate increases, even after significant adjustments post-lease expiry. However, businesses seeking space may find relief in 2025 with new inventory entering the market. Most of this new development will be concentrated in the western and southern regions of Ottawa, including Barrhaven, Kanata, and Carp Road. As these projects are completed, prospective tenants will have more leasing options, potentially easing the current supply constraints in the small-bay industrial market.
Square feet (sf) of new deliveries in 2024
5 projects
Net sf absorption
year to date
Average gross asking rent per square foot (psf)
includes $7.97 psf of average additional rent
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