• Year-over-year asking net rental rates increased by $1.07 to $16.69 per sq. ft., the largest year-over-year increase since Q1 2014. These rents are untested in current market conditions as they reach the highest rates in almost 20 years.

• Ottawa’s vacancy rate decreased 90 basis points (bps) year-over-year to 6.6% in Q1 2020, due to strong office demand and 490,056 sq. ft. of direct vacant space absorbed throughout 2019.

• Moving into 2020, Kanata is seeing interest from several landlords who have proposed multiple office developments totaling  approximately 900,000 sq. ft. This includes a notable development by Fiera Properties of 100,000 sq. ft. that is pushing forward on spec during this global crisis.