Ottawa industrial market report

Q1 2023

Strong demand over the past year

Many “players” have decided to acquire land and build in the near future. Providing choices in warehousing that has not been as abundant in previous years. This choice is especially true for users in the larger size range between 10,000 to 50,000 square feet (sf). Pressure will be put on owners with existing inventory to either upgrade their properties or become more flexible in their leasing packages.


Total vacancy rate

Up from 0.8% in Q1 2022 the total vacancy rate shows a steadiness in it’s increase from year to date. Displaying a sense of stability.
+29k sf


With new spaces coming on line the slight lower absorption rate, from last year to date, should not be considered as too trending.

Average gross rent

With additional rent averaging to $7.43 per square feet (psf), the industrial sector continues as the investment performer in our market.

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