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Longer leases reflect more confidence in Ottawa’s office market

Tenants lock in terms in sign of further stability
In March, high-speed train company ALTO signed a 10-year lease for nearly 11,000 square feet at 160 Elgin Street in downtown Ottawa. Office lease terms in Ottawa are lengthening compared with recent years. (CoStar)
In March, high-speed train company ALTO signed a 10-year lease for nearly 11,000 square feet at 160 Elgin Street in downtown Ottawa. Office lease terms in Ottawa are lengthening compared with recent years. (CoStar)
CoStar Analytics
August 18, 2026 | 11:55 P.M.

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After several years of uncertainty and shrinking lease commitments, Ottawa's office market is showing signs of renewed stability, characterized by a sharp increase in the length of leases signed in 2026.

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