The Winnipeg industrial market was solidly active in the second half of 2017 with substantial sales and leasing transactions taking place before year end.
- Inventory supply remains limited with Winnipeg’s overall vacancy rate for this quarter dropping to its lowest point within the last five years.
- Case in point being two of Winnipeg’s largest landlords (Artis REIT and bcIMC’s QuadReal Property Group) have less than 2% vacancy in their industrial building portfolios.
- Developers have noted the lack of quality inventory and are now in the midst of completing several large, raw land transactions in order to bring various industrial developments to the market in late 2018 and early 2019.
- For now, Winnipeg is firmly in a landlord’s market with quality buildings commanding premium rental rates.
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