Ottawa industrial market report
Q4 2023
Increasing vacancy rates pave the way for balance in Ottawa’s Industrial market
The vacancy rate rose by 60 basis points (bps) in the fourth quarter to 2.0% (one million sf). This marks the highest rate since Q3 2020, when 2.2% was last recorded. For the first time in many years Ottawa’s Industrial vacancy rate inched up to the 2% mark – a testament to the confidence the development community has in the industrial market segment.
With several new projects, totalling over two million sf, already in pre-leasing we can expect to see a bit more choice for those tenants looking to upgrade their leasehold interests in this market and we start to see an approach to a more balanced industrial market.
Total vacancy rate
Up by 0.6% year-over-year
Available for sale
In 12 buildings across greater Ottawa
Average gross asking rent psf
Includes $7.51 psf average additional rent
Your source for the latest Ottawa industrial market reports
Get in-depth industrial 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 industrial properties.
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