Paywalled so I don't know what the rest of the article says. I can say Metcalfe Realty has done a few major rebuilds of their office portfolio, with partial or full reclads. I hope that's the plan here, but also hope they keep the overall look of 116 Albert St. because I really love the windows and pre-cast colouring. The ground floor was renovated within the last 20 years and looks really good from a pedestrian perspectives, one of the better office ground floors in Ottawa.
No idea what second building was pulled off the market.
Quote:
Downtown office vacancy rate falls in Q2 after two highrises dropped from leasing inventory
David Sali, OBJ
July 20, 2026
Metcalfe Realty has taken its 10-storey, 97,000-square-foot highrise at 116 Albert St. off the office leasing market.
Ottawa’s downtown office vacancy rate dropped more than a full percentage point in the second quarter as deals picked up and two highrises were taken off the leasing market, Colliers said in its most recent market report. The vacancy rate of office buildings in the core fell to 12.4 per cent at the end of […]
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