Ottawa’s office market recorded its smallest vacancy rate increase last quarter since the start of the COVID-19 pandemic, according to data from commercial real estate services firm CBRE.
The citywide vacancy rate rose 20 basis points in the second quarter of the year, climbing to 9.8 per cent from 9.6 per cent in the first quarter.
Downtown, the central business district office market broke a string of five consecutive quarters of rising vacancy rates by dropping to 9.6 per cent at the midyear mark, a decrease of 10 basis points. CBRE attributes the tightening to the National Dental Examining Board of Canada leasing 18,000 square feet inside Constitution Square as well as two subleases in Performance Court at 150 Elgin St. The building is the former headquarters of Shopify, which vacated several floors and put its space on the sublease market roughly a year ago.
Ottawa office market shows signs of stabilization following pandemic shock obj.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from obj.ca Daily Mail and Mail on Sunday newspapers.
February 15th, 2021 comments
Is your profession licensed in Canada? It can be a challenging journey to get back to your field
Even though Canada is known worldwide as a country that welcomes newcomers, many skilled immigrants are surprised by the career challenges they face after arriving. Despite being accepted to immigrate based on their experience in in-demand professions like health care and engineering, they face costly and time-consuming barriers, such as retraining and qualifying examinations, to practise in their fields.
Things have improved over the last decade or so, with licensing organizations recognizing the need to make the process more straightforward. Many regulatory bodies and post-secondary institutions have also created bridging programs tailored to help immigrants transition their experience to the Canadian environment. Still, the road to career success in licensed professions can be full of unexpected costs and wrong turns.