New data from CBRE indicated that Ottawa’s commercial market enjoyed its best first-half-of-the-year in a decade, with overall investment from January to June 2018 increasing by 10.2% year-over-year to reach $718.5 million.
In Q2 2018 alone, the market saw $339.5 million worth of transactions, up 10.5% compared to the same time last year.
These performance levels placed the market on track to a very strong 2018 finish, approaching or even exceeding $2 billion.
A number of significant transactions during the period propelled this volume. Most notable was the the Mierins Auto Group’s portfolio sale of eight dealership and service centres, along with a pair of land parcels. The deal, which was valued at $80.2 million, was completed with the Alpha Auto Group.
Another large exchange was Investors Group’s sale of a $68.15-million industrial portfolio to Desjardins. The transaction – involving approximately 550,000 square feet within properties on Leeds Avenue, Walkley Road, Hawthorne Road, St. Laurent Boulevard, and Parisien Street – was Desjardins’ first significant move into Ottawa’s industrial property market.
“Investment demand for all asset types [in Ottawa] remains high and tempered only by the availability of product,” CBRE stated in its report, as quoted by the Ottawa Business Journal.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate