Ottawa developer Colonnade BridgePort has sold an office building near the Blair LRT station to a group of local investors, the latest sign of movement in the city's office real estate market.
The deal
The property at 1900 City Park Dr., a five-storey, 93,200-square-foot office complex, sold for $12 million in a deal that closed on September 4, 2026. The buyer is a numbered entity, 1900 City Park GP Inc., described as a group of local buyers. Avison Young represented Colonnade BridgePort as broker on the sale.
At the time of sale, the building was 81.4% occupied, with an average weighted lease term of 6.8 years remaining across its tenants. Co-working space provider TCC Canada is one of the building's key tenants, occupying a full floor.
Bought for more, sold for less
Colonnade BridgePort originally acquired the building along with 4 acres of adjacent land in 2023 for $20 million, buying from QuadReal Property Group.
Colonnade BridgePort CEO Hugh Gorman struck a note of cautious optimism about where the market stands. "It feels like we're at the bottom of the office market trough and working our way out of the other side," he said.
What it means for the Blair Station area
The sale puts the office building in the hands of local investors just as the surrounding stretch of Ottawa's east end continues to see development interest.
What led here
Colonnade BridgePort has been active nearby in recent weeks. The developer is pushing ahead with a five-tower residential project near Blair Station in the east end, and separately said it's targeting 2027 construction starts on its City Park and Scott Street tower developments. Read ottown's earlier report on the five-tower plan, and the City Park and Scott Street coverage for more on what else the developer has planned in the neighbourhood.
With the office sale now complete, Colonnade BridgePort's remaining plans for the surrounding land, including the residential towers, appear to still be moving forward on their own timeline.
Sources: Ottawa Business Journal
