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Ottawa industrial rents rise to rank among highest in Canada: Colliers

With the rate of available space once again approaching historic lows, Ottawa has become Canada’s most expensive industrial real estate market east of Vancouver, according to a leading brokerage firm.
Colliers says Ottawa continues to see strong leasing demand from e-commerce and distribution companies. Amazon’s 2.8-million-square-foot fulfillment centre was recently completed by developer Broccolini at 222 Citigate Dr. in Barrhaven, and the e-commerce giant also leased nearly 105,000 square feet at 1000 Legacy Road, just off Hawthorne Road, that it will occupy in the fourth quarter, according to Colliers.
While the citywide availability rate was flat at 2.3 per cent, rental rates continued to rise and reached $11.41 per square foot. That’s up four per cent over the first quarter and 8.6 per cent year over year, putting Ottawa behind only Victoria and Vancouver for the most expensive industrial market in Canada. ....

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Orléans developer looks to construct residential complex near Cyrville LRT station

An Orléans-based developer wants to build a six-storey apartment complex near the Cyrville LRT station.
In an application recently filed with the city, a numbered corporation represented by east-end resident Carina Guzman is proposing a 45-unit building at 1368 Labrie Ave., south of the intersection of Highway 417 and Cyrville Road. The property is currently occupied by a detached dwelling and a storage building.
According to planning documents, the development would contain a mix of one- and two-bedroom units as well as amenity space, an indoor activity room and a rooftop terrace. An underground parking lot would have space for 31 vehicles, including three spots reserved for visitors. ....

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Toronto's Marlin Spring acquires three Ottawa retirement homes from Revera

Deals are part of real estate firm's bid to expand its portfolio of retirement residences across North America. ....

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Toronto's Marlin Spring acquires three Ottawa retirement homes from Revera

A Toronto-based real estate investment firm has acquired several Ottawa properties as part of a bid to expand its portfolio of retirement residences across North America.
Marlin Spring said Monday it’s purchased eight retirement homes from Mississauga-based Revera, including three in the National Capital Region. Financial terms of the transaction were not disclosed.
In addition to the Ottawa properties, Marlin Spring also acquired retirement homes in Kitchener, Mississauga, Oshawa and Richmond Hill. The facilities will be operated by the company’s new Spring Living Retirement Communities arm, which also includes a property in Burlington that Marlin Spring purchased in 2019 and another in nearby Waterdown it acquired last year. ....

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Sunday shopping bans, the opening of the Rideau Centre and the pandemic's toll: Richard Getz reflects on 40 years of retail real estate

When industry leader Richard Getz turned to online platform LinkedIn to publicly announce his recent retirement as vice-president of retail for Colonnade BridgePort, the best wishes and congratulations started pouring in.
“I was overwhelmed by the response,” said Getz, adding with a laugh: “Even people that I thought didn’t like me were writing nice things.
He had decided to pack it in after 40 years in the Ottawa retail real estate industry, having worked in management, development, leasing, marketing and brokerage sales. He wasted no time updating his online professional profile to reflect his endearing new role: special assistant to his wife, daughters and grandchildren. ....

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