Accelerating success.

Ottawa Real Estate Forum

Ottawa Office Submarkets

1

Ottawa’s Core Office Inventory by Class – 1980-2023

2

Ottawa Core Office Rent By Class – 1983-2023

3

Unweighted Office Classification Criteria

Downtown Ottawa, Class A, Physical Building

Lease Criteria (Excluding Lease Attributes)

Clas

s C

Cla

ss B

Clas

s A

Class

A+

Floor Size, Above 15,000 SF √ √ Floor Configuration, Minimum distance from corridor demising wall to

windows – 35 feet

√ √

Window Access 2, Views of minimum 2 city blocks for 25% of the floor

space

√ √

Lobby Presentation 2, Access from two (2) street directions √

Column Spacing, Minimum 25 foot centres on longest wall √ √ √

Street Profile 1, Full Block √

Street Profile 2: Corner location above 18 floors √ √ √ Loading Dock, Dock level loading covered or protected environment for

major truck sizes

√ √

Ceiling Height, at or above 9 foot clear to T- Bar √ Window Access 1, minimum height 6 feet & maxim width to grid line

dimension (5 feet)

√ √

Lobby Presentation 1, Minimum 1.5 floors in height √ √ √

Manned Security, Minimum 18 hours per day √ √ √ Amenities, Minimum any number of providers at or above 4 (food, gym ,

banking, retail, car wash)

√

Passenger Elevator Service, Minimum 0-25 second wait times √ √ √ √ Freight Elevator Service, separated from passenger traffic – Minimum

3,500 LBS capacity

√

Unweighted Office Classification Criteria

12

Downtown Ottawa, Class A, Physical Building Lease

Criteria (Excluding Lease Attributes)

Cla

ss

C

Clas

s B

Clas

s A

Clas

s A+

Interior Floor Doors, Provision for elevator exposure to main office entry of

at least one tenant

√ √ √ √

Parking 1, Minimum executive parking at a ratio of 1 spot for each 2,200 SF –

guaranteed for term

√ √ √ √

Parking 2, Provision for visitor parking on site √

Washroom Configuration, To Bldg Code with barrier free access √ √ √ √

HVAC 1, capacity to zone minimum 4,000 SF √ √ √ HVAC 2, LEED Certification – Silver of equivalent or ASHRAE standard

achievement

√ √ √

Interior Common Areas 1, Contemporary color, lighting, design & materials in

evidence

√ √ √ √

Interior Common Areas 2, Ceiling of drywall with customized lighting and

artwork

√ √ √

Interior Common Areas 3, Corridor width exceeding code standards √ √ Interior Common Areas 4, Minimum quality & standards for all tenant entry ways

and signage

√ √ √

Property Management 1, Stable Management - personnel on site for minimum of 5

years

√ √ √ √

Property Management 2, Min half day reply to tenant requests – no direct

invoicing for services

√ √

LEED Certification, minimum Silver √ √ √

Exterior Signage 1, Penthouse or other exterior curtain wall √

Exterior signage 2, Pylon Availability Neighborhood Advantages, Bus public transit and retail shopping options

within 1 block of lobby entry

√ √ √ √

Total Score out 30 (25 minimum) 11 16 22 27

CBD Development Sites

6

Downtown Ottawa Class A Forecast to 2020

7

$0.00

$5.00

$10.00

$15.00

$20.00

$25.00

$30.00

$35.00

$40.00

$45.00

-600,000

-400,000

-200,000

0

200,000

400,000

600,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

New Supply

Unrealized Absorption

Realized Absorption

Vacant Space

Rent ($)

3%

2%

1.5% 1% 1% 1%

2% 1.5%

2%

Class B Recently Vacated – 275 Slater Street

9

275 Slater Street – Historical Capital Improvements

10