Aequitas Developments
Commercial Property Survey
Curated Ottawa opportunities — commercial condominiums for purchase and commercial space for lease — process-focused guidance for a sophisticated buyer/tenant.
Commercial Condos For Sale
The Condos @ Denzil Doyle Court, Kanata South — flexible IP4-zoned business park units. Unit 215 has sold; Unit 213 is available off-market with potential to combine with ground-floor space.
Units 114 + 115 (Combined)
Ground floor · Side-to-side combination · IP4 Business Park Industrial zoning
- Approx. 2,700 SF combined
- Two overhead doors; dividing wall can be partially demolished for one open 2,700 SF unit
- Base building condition; move-in ready within 60 days of a firm contract
- Condo fees approx. $618.75/mo (2 units), inclusive of all utilities
- Suited to warehouse, light manufacturing, or office/showroom use
Unit 213 + Ground-Floor Combination
2nd floor office (Unit 213) · Combinable with unit below · IP4 Business Park Industrial zoning
- Unit 215 has sold — no longer available
- Unit 213 (approx. 1,350 SF, recently renovated office) is available off-market
- Open concept with new kitchenette and roller shades
- Potential to combine Unit 213 with the ground-floor unit below it for a stacked above/below footprint
- Condo fees approx. $618.75/mo, inclusive of all utilities · Contact agent for off-market details and pricing
Commercial Space For Lease
Five industrial/flex buildings across Ottawa's Merivale, St. Laurent, and Innes/Sheffield corridors — ground-floor, grade-loading, and office/warehouse combinations.
Unit 5
Industrial / Office · 7203 – Merivale Industrial Park · K2E 7S4
- 2,316 SF total area
- Additional rent (TMI) approx. $9.10/SF (2026)
- Grade-level loading door, 14' clear height, 3-phase power
- Suited to showroom, office, or light warehouse use
- No automotive uses considered · Available now
56A Cleopatra Drive
Industrial · Merivale corridor · K2G 0B3
- 1,025 SF units, combinable to 2,050 SF (full building)
- Includes dedicated office space within each unit (300–600 SF)
- 1 drive-in bay per unit; secure storage
- Tenant responsible for water, gas, and hydro
- IP Light Industrial zoning · Available now, offered whole or by unit
Unit 102 + Unit 104 (Separate or Combined)
Office / Industrial · East-end Ottawa · IH Heavy Industrial zoning
- Unit 102 — 1,210 SF office; 3 private offices + open workspace
- Unit 104 — 1,314 SF industrial; open warehouse, 1 grade-level door, storage loft
- Combined: approx. 2,524 SF
- Additional rent approx. $8.39/SF (plus utilities) per unit
- Close to HWY 417 via Innes Road/Sheffield Road; on-site parking
2285 St Laurent Blvd, Unit C6
Industrial condo · St. Laurent corridor · K1G 4Z6
- 2,000 SF two-storey unit; 5-year term
- Ground floor: garage door, warehouse, washroom (~1,000 SF)
- Upper floor: 4 offices, boardroom, bonus room, kitchenette, washroom (~1,000 SF)
- Central heat and A/C; close to HWY 417
- Available September 1, 2026
Unit 10
Industrial · IH Industrial Heavy zoning · K1G 3W1
- 2,522 SF; 5–20 year term available
- 18' clear height; 10' x 12' grade-level garage door
- Office space at the front for administrative/customer needs
- Can combine with adjacent unit for up to 5,044 SF total
- No automotive uses; quick access to HWY 417
Combined Opportunity
Two adjacent 2,522 SF units, Hawthorne Industrial Park
- Up to 5,044 SF combined across two adjacent units
- Two 10' x 12' grade-level garage doors (one per unit)
- 600V, 3-phase power (to be verified by tenant)
- Multi-tenant building; centrally located, quick access to HWY 417
- Landlord not accepting automotive use at this time
From Search to Occupancy — Buy or Lease
You already know property and transactions. This is the Ontario path for both a condo purchase and a commercial lease, with your mandate front and centre.
Property Search & Selection
Identify condo units or lease spaces with correct zoning and use (office, industrial, retail as applicable). Shortlist against Aequitas' operational and investment criteria. Wesley Stinson runs the survey, filters inventory (including off-market opportunities), and coordinates access.
Offer — APS (Purchase) or LOI/Lease (Tenancy)
For purchases, submit an Agreement of Purchase and Sale with standard commercial conditions, typically including a Status Certificate condition. For leasing, negotiate a Letter of Intent and Offer to Lease covering rent, TMI, term, and tenant improvement allowance.
Due Diligence (typically 10–15 business days)
Purchases: review Status Certificate — condo corporation financials, reserve fund, bylaws, special assessments, and unit condition. Leases: confirm zoning permits intended use, review landlord's rules, and inspect the space and building systems.
Financing / Deposit
Owner-occupied purchases commonly require 25–35% equity — engage a commercial mortgage broker early. Leases typically require first/last month's rent as deposit plus a personal or corporate guarantee.
Closing / Lease Commencement
Purchases: legal transfer of title via your lawyer, with adjustments for taxes and condo fees. Leases: execute the final lease, confirm insurance and possession date, and coordinate any tenant fit-out.
Working Under Mandate with Wesley Stinson
As your mandated buyer/tenant representative, Stinson Commercial:
- Sources and screens inventory (on- and off-market) against Aequitas criteria
- Coordinates showings, data rooms, and Status Certificate requests
- Drafts and negotiates APS or lease terms with listing brokers/landlords
- Aligns counsel, lenders, and inspectors through condition waiver and closing
- Provides conflict-free advice whether you ultimately buy, lease, or pass
Lease vs. Own — Quick Reference
General fallback for discussion. Neither path is universally superior; the right answer depends on hold period, capital, and growth trajectory.
Leasing — Advantages
- Capital preservation for core operations
- Flexibility to right-size space
- Predictable operating expense structures
- Landlord carries major repairs and capex
- Access to prime buildings that may be hard to buy
Buying — Advantages
- Equity accumulation and potential appreciation
- Fixed long-term occupancy cost (mortgage)
- Full control over premises and branding
- Balance-sheet asset; tax tools (interest, CCA)
- Possible rental income from excess space
| Dimension | Lease | Buy (Condo / Freehold) |
|---|---|---|
| Upfront capital | Deposit + fit-out (allowances may offset) | 20–35% down + LTT / legal / HST (~3–6%) |
| Flexibility | High — sublease, assignment, renew | Lower — sell or sublet (timeline 3–12 mo) |
| Long-term cost certainty | Moderate — escalations & renewal risk | High — fixed-rate mortgage locks principal cost |
| Asset / equity | None — rent is expense | Full upside + principal paydown |
| Management burden | Minimal (interior only) | Full — taxes, maintenance, capex, fees |
| Ideal hold | ~1–7 years | ~7+ years (break-even often 7–10) |
| Best suited for | Growth / uncertain space needs | Stable operators, wealth-building, long tenure |
Key questions before deciding
- Planned occupancy under 5 years → usually lease; over 10 → model buy
- Is headcount / space need stable?
- Is 25–35% equity available without impairing operations?
- Would you buy this asset if you were not occupying it?
- Holdco vs. opco ownership structure (tax & liability)
Ottawa market snapshot
- Sub-10,000 SF owner-occupier product remains constrained
- Industrial/flex lease rates in this survey range $16.00–$29.26/SF net
- Owner-occupied financing commonly ~5.5–7.0% (5-yr fixed)
- Hybrid work has increased availability of smaller office / flex stock
For general information only — not financial, legal, or tax advice. Stinson Commercial can build a customized lease-vs-buy model for Aequitas' hold period and capital assumptions.
Recommended Next Steps
Clear actions to move from shortlist to executable transaction under mandate — whether buying condo units or securing lease space.
Immediate actions
- Confirm priority options: Denzil Doyle 114+115 or off-market Unit 213 combination (purchase); Concourse Gate, Cleopatra, Blackwell, St. Laurent, or Stevenage (lease)
- Schedule private showings via Stinson Commercial
- Align ownership/tenancy entity (holdco / opco) with counsel and accountant
- Introduce commercial mortgage broker for pre-qualification (if purchasing)
How Stinson Commercial supports
- Buyer/tenant representation under written mandate
- Offer strategy, APS/lease negotiation, and condition management
- Network of lenders, lawyers, and inspectors for owner-occupiers and tenants
- Ongoing inventory alerts before public listing where available, including off-market leads
Contact
Wesley Stinson · Commercial REALTOR · Stinson Commercial
stinsoncommercial.ca · Ottawa, Ontario