Q3 2023 Ottawa Office Market Report

In the current Ottawa office landscape, opportunities abound for tenants. Vacancies and availabilities are rising, prompting landlords to sweeten the pot with attractive incentives like rent abatements, free rent periods, and generous improvement allowances – there has never been a more opportune moment to re-evaluate and action your real estate decisions.

Here's how Cresa can guide you in capitalizing on this window of opportunity:

Downsizing: Looking to reduce your office footprint? It’s not just the most straightforward option logistically; we can assist in dissecting your lease terms and bolstering your negotiation leverage for renewals , or support with subleasing or early terminations.

Upgrade Your Location: The move towards premium office spaces continues to gain momentum. With the softening leasing fundamentals, particularly in the downtown submarket, that sought-after Class A office space might now fit perfectly within your budget.

Relocation Advantages: Consider moving out of downtown. Relocating closer to the 417 not only enhances commute times but also offers perks such as complimentary parking. Moreover, stepping away from the downtown core offers both fiscal and environmental benefits that shouldn’t be overlooked.

The market is ripe with possibilities, and now is the time to act. Let Cresa be your trusted partner in making informed and beneficial real estate choices.