As a vital part of the National Capital Region, the tides of Gatineau, Québec’s fortunes are in many ways linked to the economic performance of the city of Ottawa. As such, Gatineau has a relatively stable economy and presents a variety of attractive business and investment opportunities. Our experienced brokers at Primecorp Québec, are finely tuned to the pulse of commercial real estate markets in the city, including multi-residential, commercial, office, retail and land development.
The National Capital Region – A Tale of Two Cities
Gatineau is the fourth largest city in Québec (pop. 301, 416) and is situated on the north bank of the Ottawa River. The city of Gatineau combines with the city of Ottawa to form the National Capital Region, with a population well over one point two million people.
As part of Canada’s capital region, the main employer in Gatineau is the Government of Canada. The policy of the federal government is to distribute federal jobs on both sides of the Ottawa River. Some government agencies and ministries headquartered in Gatineau are the Canadian International Development Agency, Public Works and Government Services Canada, and the Transportation Safety Board of Canada.
In recent years, Gatineau has experienced an increase in residential and commercial development but like its Ontario counterpart, Ottawa, the tourism industry remains an important part of Gatineau’s economy. Two important tourist attractions located in Gatineau are the Canadian Museum of History and Casino du Lac Leamy. Gatineau Park is a popular spot for cottagers, hikers, and outdoor enthusiasts, and is maintained by the National Capital Commission.
A Revitalized Public Service Boosts the Capital Region
The election of a new Liberal Government, in the fall of 2015, saw renewed investment in the federal public service and increased jobs and economic prosperity for the National Capital Region:
The public administration sector saw the largest gains in November , adding approximately 4,900 jobs in the Ottawa- Gatineau region. Nearly all of these jobs were within the federal government and employment now sits at 139,200 - the highest level since mid-2012. The Conference Board of Canada is projecting GDP growth of 1.7% in 2016; accelerating to 2.2% in 2017. – Cushman & Wakefield
Gatineau Outperforming Ottawa Going into 2017
Although closely linked, the economic fortunes of Gatineau and Ottawa do not always correlate. Going into 2017, Gatineau has experienced a much faster rate of job growth and creation, than its counterpart across the river:
Gatineau registered a strong gain of 2,800 jobs while in Ottawa the number employed dropped 3,600, with weaknesses reported in sectors that include media and restaurants. As a result, Gatineau’s jobless rate fell below that of Ottawa for the first time since January. Gatineau’s unemployment rate improved to 5.6 per cent in May compared to 5.7 per cent in April while in Ottawa the jobless rate deteriorated to 5.8 per cent from 5.1 per cent over the same period. – Ottawa Citizen
Demand for prime commercial real estate and office space in Gatineau is also quite healthy, compared to the National Capital Region as a whole. According to JLL Canada Office Statistics Q1 2017: Gatineau stacks up very well within the overall market in the National Capital Region at 6.6% vacancy compared to 11.2% for the region and asking price per square foot is on par with the rest of the NCR.
Whether you’re a commercial real estate investor, or a business owner seeking the ideal office or commercial location, Primecorp Québec will help you sell or acquire the right type of property to suit your specific business requirements across the province, or specifically in the city of Gatineau.
Primecorp’s Québec Team is a specialized group of brokers - Dave Thomson, Pierre Charron and Martine Boisvert - analysts, marketers, and administrators. With over 65 years of experience between them, they are making a difference by representing the French language community and providing exceptional market knowledge of the region’s unique commercial opportunities. The Québec Team has represented the nation’s best owners and developers and brings that experience to each subsequent business relationship. Primecorp’s leading approach brings talented owners together with experienced professionals to create the most advantageous real estate agreements possible.
A Sample of Current Primecorp Québec Listings in Gatineau
Note: the first three listings are retail leasing opportunities in high-profile and well-situated Gatineau shopping plazas, on behalf of First Capital Real Estate who have entrusted the Primecorp Québec Team with exclusive representation in the Gatineau market.
Retail Plaza: 455 Gréber Boulevard, Gatineau, Québec
Place Nelligan is a LEED Silver Certified retail plaza located in close proximity to HWY 50. This site enjoys strong visibility and is grocery-anchored by IGA. There are six points of access to the plaza; two from Rue Nelligan, two from Boulevard St-René and two from Boulevard Gréber, one of which is signalized. Other anchor tenants include Subway, Brunet Pharmacy, and Citi Financial.
Retail Plaza: 25 De La Savane Road, Gatineau, Québec
La Porte de Gatineau is a LEED Silver Certified retail plaza located in the heart of an affluent community. This site is strategically situated close to Highway 50 and Highway 148, providing the centre with significant surrounding traffic. The site has three points of access; one point of full access from Boulevard Gréber and two from Chemin de la Savane.
Retail Plaza: 710-750, Montée Paiement, Gatineau, Québec
Carrefour du Versant Est is a LEED Silver Certified retail plaza in close proximity to HWY 50. The centre offers ample parking and is well placed to serve the everyday essential needs of its densely populated neighbourhood. The site enjoys strong visibility from Montée Paiement and Boulevard Gréber with full, signalized, access from Boulevard Gréber.
Development Site: 210 Champlain, Gatineau, Québec
Former retail building on ± 28,803 SF of land with a ground floor area of ± 21,178 SF, basement area of ± 21,283, and a mezzanine area of ± 5,354 SF. The total building area is ± 47,815 SF with a ceiling height of 19 feet and ± 199.5 feet of frontage along Champlain. Includes retail selling areas, storage rooms, offices, and a loading ramp on the south side of the building for truck deliveries. The potential for a high rise residential tower, a specialty retail store, a full-service hotel, or a mixed-use commercial/residential building.
69.24 Acres of Vacant Land: Cook Road & Vanier Road, Aylmer, Québec
The subject property is situated at the southwest corner of the intersection of Vanier and Cook Road in the Aylmer Sector of the City of Gatineau. The future route of Highway 50 passes along the southern boundary of the site, and will eventually link up with the finished parts of the highway that go all the way to Mirabel, north of Montreal. Vanier Road is a major north-south arterial, while Cook Road is a well-traveled east-west concession road that links rural Aylmer to the heavily densified Plateau sector of Hull. Asking Price for this property: $1,050,000.
Retail/Office Development: 7-9 Montclair Blvd., Gatineau, Québec
Located at a busy intersection in a popular retail/entertainment hub, this property is a well-situated development at the busy commercial intersection of Carrière & Montclair Boulevards. The property is fully leased to strong retailers L'Aubainerie, Houston's Restaurant and the Federal Government (PWGSC). The offering includes two commercial buildings with a total GLA of ±74,941 SF, Site Area is ±3.74 acres with ample onsite parking (±259 stalls).
Shopping Mall (Retail Stores and Professional Office Space): 975 Saint-Joseph Boulevard, Gatineau, Québec
Available Space is located on the main floor of the building; this property comprises more than 198,109 SF of leasable space of which 35,106 SF is vacant. The property includes three floors fully occupied by the federal government. Royal Bank Investment Division and a Coffee Shop occupy part of the main floor. Many nearby amenities include restaurants, La Sporthèque, financial institutions, SAQ and grocery stores.
Interested in Commercial Real Estate Investment or Sales Opportunities in Gatineau, Québec?
Contact our experienced and highly qualified team at Primecorp Commercial Québec Inc. and we would be pleased to assist with any commercial real estate sales or investment opportunities you may be considering, in this vibrant and growing area of the National Capital Region.