Marcus & Millichap Expands Canadian Presence

Brokerage firm Marcus & Millichap has opened its fourth location in Canada.
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Ottawa, Canada—Brokerage firm Marcus & Millichap has opened its fourth location in Canada.

The company now occupies the 11th floor of the Adobe Tower at 343 Preston St. in Ottawa, just minutes away from the city center. According to Gary Lucas, regional manager and senior vice president with Marcus & Millichap, the new location will be focused on office, retail, mixed-use and multifamily real estate investment sales.

The 242,000-square-foot office building known as the Adobe Tower—the tower serves as Adobe Systems’ Ottawa headquarters since its completion in 2006—is located in Little Italy and is currently 100 percent leased. With this new lease, Marcus & Millichap now has offices in Ottawa, Toronto, Calgary and Vancouver.

“With the most highly educated workforce in the country, very low unemployment relative to the rest of the country, and one of the most affordable large cities to live in, the Ottawa real estate market is an attractive investment location for local and international investors,” said Lucas in a prepared statement.

According to Mark Paterson, Marcus & Millichap’s Ottawa broker of record, the city boasts one of the most vibrant and in-demand multifamily markets in the country, due to its stability. This attractive market is expected to also be impacted by the upcoming federal election and the city’s new light rail development coming in 2018.

Image courtesy of Sakto Corporation