Ottawa office market report
Q1 2025
Shifting Office Demand: Downtown Vacancies Rise as Suburban Markets Strengthen
Office space availability in Downtown Ottawa has risen to 16% due to high renovation costs and economic uncertainty, with larger tenants downsizing or adopting hybrid work models. Kanata is seeing strong leasing activity driven by the tech and defence sectors, leading to a decline in availability in suburban areas. Centretown and Byward Market have high vacancy rates influenced by security concerns, prompting some tenants to relocate to more stable downtown or suburban markets. The uneven recovery across these areas highlights the impact of local issues on broader leasing patterns.
Downtown Ottawa availability rate
up 0.1% from Q4 2024
Sublet as a percentage of all available space
Average gross asking rent psf
includes $17.80 psf average additional rent
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