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Year in Review

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Abarnath Devaraj

on 18 March 2016

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Transcript of Year in Review

# of sales 10 year comparison
Office Vacancy by Government
Ottawa Industrial Market Overview
Ottawa Office Market Overview
Highest Number of Sales
Highest Total $ Value of Transactions
Difficult to secure strong tenants
Multi-Family Market Overview
Presented by:
Oliver Tighe, B.A. AACI, P.App
New Government
2015 Year in Review
Lack of Product
Strong Demand from Investment Purchasers
New Development?
Industrial Looking Forward
The Bad
The Green
Vacancy = High
Net Effective Rents = Low
Demand for High Quality Space = High
Demand for Low Quality Space = Non Existent
Looking Ahead: Ottawa Office
new Tenants
Strong Demand
High Demand & Low Cap Rates
Spear Street Flips Blackberry Assets
Purchased One Leased Building, One Vacant Building and a vacant Site for $32,539,000

Sold Two Leased Buildings And a Leased To Be Built Building for $72,500,000
Investors Group
$ Per SF:
Cap Rate:
24 Buildings
2 Developments Sites
68 Tenants
Canfirst Portfolio
Managing Director
Valuation & Advisory Services
Bayshore: $200 Million
St. Laurent: $25 Million
Rideau Centre: $360 Million
$22,000,000 / Sub 5.0%
Condo Prices Falling
New Rental Construction Increasing
Upward Trending Rents
Cap Rates Remain Low
$33,979,900 / 3.90%

3750 Carousel Crescent, Ottawa
What impact will new supply have on vacancy & rental rates?
When will Condo market recover?
When are cap rates rising?
Ottawa Retail Market Overview


May 2014
October 2015
Key Points
+/- $630 Million in Transactions in 2015
Down from a high of $2.18 Billion in 2012
Lowest Since 2008 when only $618 Million Traded
10 Year Average: $920 Million
Commercial Real Estate Market Overview
Ottawa Residential Real Estate Market Overview
Average Home Price
Jan 2016
% Change
+ 4.6%
Average Condo Price
-Demand in $300k - $400k Greatest
-Condo Market Faltering
Source: OREB
New Home Construction
2015 starts lowest since 2000
Townhomes in Demand
Barrhaven most active
Condo Market Rent vs. Buy
750 Sq.Ft. 2 Bedroom
$2.20 PSF
Parking $150 Per Month
Total: $1,800 + Utilities
$425 PSF / $320,000
Mortgage: $1,290
Condo Fees: $450
Property Taxes: $275
Total: $2,015 + Utilities
Full transcript