Ottawa industrial market report
Q1 2025
Ottawa’s Industrial Market Holds Strong with Low Vacancies, Stable Rents, and Strategic Expansion
The Greater Ottawa industrial market remains resilient in early 2025, with a low vacancy rate of 2.2% and stable rental rates despite concerns over tariffs and construction costs. While small-bay industrial spaces remain in tight supply, particularly in Ottawa East, there is growing availability and opportunity for larger users in Ottawa West and South. Meanwhile, speculative development is shifting toward large-bay builds, with over 250,000 square feet of new space expected, though expansion sentiment is cautious due to macroeconomic uncertainty. High rental rates for new builds and significant transactions reflect continued investor interest.
square feet (sf) of new deliveries in 2025
2 projects
net sf absorption
average gross asking rent per square foot (psf)
includes $7.36 psf of average additional rent
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