Ottawa office market report
Q3 2024
Stabilizing vacancy rates and declining sublease availability shape Ottawa's office market
The Greater Ottawa office market shows stabilizing vacancy rates as companies adjust to long-term space requirements, driven by a more optimistic business outlook. Sublease availability is decreasing as demand rises for turnkey spaces offered at discounted rates, a trend bolstered by high construction costs and a shift towards back to office plans. In Kanata, Class B and C vacancies are declining, aided by office-to-residential conversions that reduce office inventory, creating positive absorption and alleviating pressure on the market.
total vacancy rate
down 0.2% from Q2 2024
sublet as a percentage of all available space
decreased 2.7% from Q2 2024
average gross asking rent psf
includes $16.69 psf average additional rent
Your source for the latest Ottawa office market reports
Get in-depth office market reports and insights from commercial real estate experts in the Greater Ottawa area. Avison Young advisors look at Ottawa commercial real estate activities and the latest Ottawa statistics to provide you expert market research on Ottawa's office properties.
Explore different topics like the latest office market pricing trends and analysis of Ottawa's current office real estate market conditions. Gain a better understanding of Ottawa’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Ottawa's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Ottawa.
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