- What A downtown Ottawa office and retail building is on the block for $18m
- Why Scotiabank occupies the entire building with a lease running until December
- What next Marcus & Millichap has the marketing assignment
Canderel is looking to sell 118 Sparks Street, a six-storey mixed-use building in Ottawa’s downtown core, with an asking price of $18m, Green Street News can reveal.
The listing values the property at $277/sq ft. The building last traded in September 2024 for $278/sq ft, according to Green Street’s Sales Comps Database.
Marcus & Millichap has the marketing assignment for the 65,000 sq ft building that fronts both Sparks and Queen Streets.
Constructed in 1909 and reconstructed in 1984, the office and retail complex sits on a 13,000 sq ft site. Scotiabank is the sole tenant, fully leasing the property until Dec. 31, 2025.
The ground and second floors are used for retail banking purposes, with the remaining 44,000 sq ft across floors three to six configured as office space.
Close to City Hall, the property is also 100m from the Parliament LRT station and Parliament Hill.
Canderel is a privately held real estate company headquartered in Montréal. The firm owns, develops and manages office, retail, industrial and residential assets across major Canadian markets.
