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Stock impact report

Ottawa office market experts left in the dark over feds' return-to-work needs [Yahoo! Finance Canada]

CoStar Group, Inc. (CSGP) 
Last costar group, inc. earnings: 4/28 04:02 pm Check Earnings Report
US:NASDAQ Investor Relations: costargroup.com/investors/stock-info
Landlords and office brokers want to know whether the federal government is going to need more space to accommodate ramped-up return-to-office plans after years of stated plans to consolidate its office footprint. "To speak very frankly, if there's a plan, no one knows what it is," said Shawn Hamilton, principal at Proveras Commercial Realty. The federal government made a splash in the downtown Ottawa office market last month with the purchase of a 14-storey building at 131 Queen St., two blocks south of Parliament Hill. Morguard Corp., the seller, pegged the value of the transaction at $148.2 million in a press release. The deal is expected to close at the end of August. The property in question has been home to House of Commons staff since it was built two decades ago, but a spokeswoman for Public Services and Procurement Canada — steward of the federal office portfolio — said the acquisition was about "prudent financial management." "By transitioning from tenant to owner Show less Read more
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