News / Ottawa

Struggling to fill office space, east Ottawa landlords await LRT completion

Office vacancy rates east of the Rideau River could drop as the completion date of Ottawa’s Confederation LRT Line draws closer.

Blair Station.

Courtesy City of Ottawa

Blair Station.

Office vacancy rates east of the Rideau River could drop as the completion date of Ottawa’s Confederation LRT Line draws closer, according to a local commercial real estate services firm.

The Ottawa East submarket contains slightly less than 10 per cent of the city’s supply of office space and has historically posted some of the area’s highest vacancy rates.

In a report released Monday, the Ottawa office of Colliers International said the area had a challenging third quarter as the vacancy rate rose from 13.6 per cent at mid-year to 15.2 per cent at the end of September.

“The region continues to struggle in attracting new tenants to the area, especially with competitive rents downtown,” Colliers said.

However, the real estate firm said that may change in the coming months as tenants consider how the completion of the Confederation Line, which will run as far east as Blair Station at the Gloucester Centre, will improve transit services.

The citywide office vacancy rate continues to creep upwards and ended the third quarter at 12.7 per cent, Colliers reported. That’s up from 12.4 per cent at mid-year and 11.9 per cent a year earlier.

This story originally appeared in the Ottawa Business Journal.

Metro Savers