•The Ottawa office market vacancy rate compressed 25 basis points in Q2 2018 to 9.8%.

•Vacancy continues to decrease in CBD Class A, down 60 bps to 3.9%.

•The CBD Class A market is starting to hit rates observed in early 2000’s and 2010’s, following the decision taken by the federal government to decrease its occupancy n the CBD.

•Kanata Class A vacancy decreased 56 bps to close the quarter at 8.1%. Year-over-year, the submarket has decreased 466 basis points. Kanata has been an engine of growth in Ottawa and we anticipate new development in this submarket over the next 18 months.

•Development activity increased in Q2, with 71,763 sq. ft. under construction at Zibi. The multi-phase project will have close to 600,000 sq. ft. of office space built by 2023 during its first phase of development.