Ottawa Office Real Estate Market
Q1 2026 Ottawa office market reported vacancy rate at 13.3%. Avg asking gross rent (all classes) at $36.99/sf and downtown office cap rate (Class AA & A) at 7.0%. Additional indicators included availability rate at 15.1% (+146 bps YoY), net absorption (YTD) at -618K sf, and under construction at 72K sf.
Vacancy, net asking rents, cap rates, absorption, submarket detail and public-REIT exposure across Ottawa, drawn from broker research. Q1 2026 · Updated July 15, 2026.
Sources: CBRE caprates capital markets Q1 2026; Colliers office Q1 2026; Cushman & Wakefield office Q1 2026 · Q1 2026 broker research
Vacancy rate
13.3%
1 broker source
Availability rate
15.1%
1 broker source
Avg asking gross rent (all classes)
$36.99/sf
1 broker source
Net absorption (YTD)
-618K sf
1 broker source
Under construction
72K sf
1 broker source
Downtown office cap rate (Class AA & A)
7.0%
1 broker source
Average gross asking rent
Gross asking rent · $/psf
Net absorption
Square feet absorbed by period