Posted Jul 17, 2020, 8:59 PM
|
 |
Moderator
|
|
Join Date: Mar 2012
Location: Ottawa
Posts: 28,762
|
|
I posted the whole article in the Commercial Real Estate , but I though I would post the downtown related portions here, including speculation on the future of 110 O'Connor.
Quote:
No end to office space crunch in sight, veteran Ottawa real estate exec says
David Sali, OBJ
July 17, 2020
***
About 330,000 square feet of new office space is currently under construction in the capital – but most of it is part of the $1.5-billion Zibi redevelopment project on the former Domtar lands just north of the Canadian War Museum and is already pre-leased, “providing little in the way of space for new growth,” the CBRE report says.
***
Downtown market
In the central business district, the rate increased from six per cent to 6.8 per cent – mostly due to the Department of National Defence vacating 190,000 square feet of space at 110 O’Connor St. earlier this year as it shifted its operations to the former Nortel campus on Moodie Drive – while in the tech hub of Kanata the vacancy rate ticked up one-tenth of a percentage point to 6.3 per cent.
Cominar’s property at 110 O’Connor is one of the few large blocks of space available anywhere in the city right now, and Hamilton said he’s eager to see what becomes of the 14-storey class-B office tower near the corner of Slater Street.
“I’m sure given the state of the multi-residential market in Ottawa, they’re giving thought to … a multi-residential play,” he said. “There’s a whole host of opportunities that surround that building. We’re waiting to see how it plays out.”
***
|
https://obj.ca/article/no-end-office-space-crunch-sight-veteran-ottawa-real-estate-exec-says
|
Prev
However, I'm not sure if he would do it... not getting the sense that he wants to run for that position.
Linear Mode
