- What KingSett Capital acquired 2215 Gladwin Crescent for $36.8m
- Why Canadian Urban sold the Ottawa property
- What next The mixed-use industrial-and-office building is home to five tenants
A large industrial building in Ottawa has traded at a 6.9% capitalization rate, Green Street News can reveal.
KingSett Capital bought 2215 Gladwin Crescent, known as Sheffield Industrial Park, from Canadian Urban on Dec. 19 for $36.8m, or $185/sq ft.
The mixed-use industrial-and-office building spans more than 200,000 sq ft and sits on 13 acres. CBRE had the marketing assignment.
The building is home to five tenants, including the Canada Revenue Agency and DHL Express. Colonnade BridgePort manages the building.
The facility, built in 1982, has a clear height of 32 ft. It is a kilometre from Highway 417, 6 km from downtown Ottawa and 10 km from Ottawa International Airport.
The Ottawa industrial market recorded significant activity in Q4 2024, Colliers said in a recent report. The vacancy rate increased by 38 bps to 2.1%, while net absorption reached 294,000 sq ft.