Figures

Ottawa Industrial Figures Q2 2026

Lack of viable space proves to be a challenge for new deals as availability dips

July 8, 2026 5 Minute Read

Ottawa’s industrial market oversaw a continued decrease in availability rate, dropping 30 basis points (bps) from 4.4% to 4.1% and equating to 156,000 sq. ft. of positive net absorption. A significant portion of the space being taken off the market this quarter were owners choosing to retain their space rather than standard leasing activity.
Finding viable space remained a challenge in Q2 2026 as more leasing activity continued, with many submarkets seeing availability rates below 1.0%. The shortage of space has resulted in net asking rents seeing an increase from $16.35 to $16.71 per sq. ft., returning to the similar levels seen at the end of 2025.
The construction pipeline has seen some progress with the completion of the 57,000 sq. ft. facility at 145 Thad Johnson Private, serving as the Canadian North headquarters. Other projects currently underway are mostly design builds, with the lack of spec builds under construction putting a strain on the supply of leasable space.
Recent government investments in sectors such as defense and AI could see an increase in demand for large-scale industrial spaces, particularly in tech hubs across the city.