Ottawa Industrial Figures Q1 2025

–       The availability rate remained stable at 3.0%, corresponding to a minimal negative net absorption of 1,300 sq. ft.

–       Average asking rents continued their upward trajectory albeit at a slower rate of growth, pushing to an all-time high of $16.99 per sq. ft. Rates have increased 0.5% quarter-over-quarter and 9.0% year-over-year.

–       Outside of 453,000 sq. ft. currently under construction, 6.9 million sq. ft. of industrial space remains in the planning pipeline, consisting primarily of large bay speculative builds.

–       Protectionist policies between Canada and the U.S. would pressure Ottawa’s manufacturing sector, which exports 76.1% of all goods and services to the U.S. While any imposed tariffs would affect businesses and consumers alike, negotiations between Canada and the U.S. remain ongoing.