Ottawa's first truly multi-tenant LEED building was completed in 2009, and Cushman & Wakefield unveiled Ottawa's first Green Real Estate Practice for the commercial sector. The inaugural Ottawa Green Office Report found that 20 buildings accounting for nearly 4 million square feet had obtained green certifications like BOMA BESt Level 2 or higher and LEED. Looking ahead, a new 18-storey LEED Gold office tower was planned and there were whispers of other LEED projects, indicating Ottawa was seeing the rise of a new class of green buildings.

1. OTTAWA GREEN OFFICE REPORT YEAR-END 2009
GREEN CHRISTMAS
While many wish for a white Christmas, it seems that Ottawa’s office community
will be getting a green one, regardless of what Environment Canada has to say
about it. Ottawa has finally gotten it’s very first truly multi-tenant LEED building
with the completion of 180 Kent, Cushman & Wakefield Ottawa unveiled
Ottawa’s first Green Real Estate Practice for the commercial sector, and as an
added stocking stuffer, you are reading Ottawa’s first Green Office Report. This
report, which going forward will be an addendum to our quarterly Marketbeat
report, looks back on a year gone by and assesses just how Green Ottawa really
is.
The inaugural Ottawa Green Office Report is a year-end review of just how Green Ottawa’s office landscape is as we close out the first
decade of the millennium. To be honest, the results are surprising. When looking at competitive buildings (government owned and single
tenant properties removed from the equation) with a Green certification where measures have been implemented to create a Green
workplace (BOMA BESt Level 2 and above or LEED), Ottawa has 20 buildings accounting for nearly 4 million square feet of Green
inventory. Looking forward, with the introduction of LEED Canada for Existing Buildings: Operations and Maintenance, Morguard has filed
plans on an 18-storey LEED Gold office tower project at Bank and Slater Streets ahead of a government tender, and whispers of various
other LEED projects in the works, it seems that we are seeing the advent of a whole new building class in Ottawa, the Green Class.
GREEN MARKET STATISTICS
Overall Direct YTD
No. of Vacancy Vacancy Leasing
Certification Level Buildings Inventory (sf) Rate** Rate** Activity (sf) Net Rental Rate* Gross Rental Rate*
LEED Gold 1 355,000 29.42% 29.42% 250,559 $26.00 $44.24
BESt 4 1 152,918 8.95% 0% 1,122 $26.00 $46.51
BESt 3 6 1,462,757 0% 0% 0 - -
BESt 2 12 1,795,677 9.84% 8.67% 116,321 $15.92 $32.46
Total Green Market 20 3,766,352 7.83% 6.90% 368,002
* Rental rates reflect psf/year
** Weighted Average
For more information on Green Commercial Building Certifications visit;
The Canada Green Building Council: http://www.cagbc.org
The Building Owners and Managers Association: http://www.bomacanada.ca
For industry-leading intelligence to support your real estate and This report contains information available to the public and has been relied upon by
business decisions, go to Cushman & Wakefield’s Knowledge Cushman & Wakefield Ottawa on the basis that it is accurate and complete. Cushman &
Center at www.cushmanwakefield.com/knowledge Wakefield Ottawa accepts no responsibility if this should prove not to be the case. No
warranty or representation, express or implied, is made to the accuracy or completeness
of the information contained herein, and same is submitted subject to errors, omissions,
Cushman & Wakefield Ottawa change of price, rental or other conditions, withdrawal without notice, and to any special
Brokerage, Independently Owned and Operated listing conditions imposed by our principals.
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