Victoria Industrial Market Report Q4 2019

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research article

Greater Victoria industrial vacancy remains below 1%. Major business parks are at capacity as tenants find limited options for relocation and expansion limiting growth opportunities.

  • Demand and supply imbalances exert upward pressure on rental rates to unprecedented levels.
  • Vacancy will remain stable at below 1% until new supply reaches the market. 
  • The Allandale Lands are a landmark development in the Westshore region providing 225,000 sf of industrial strata space for lease and sale over a number of phases. This is expected to temporarily ease the downward pressure on the vacancy rate. 

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Victoria Industrial Market Report Q4 2019

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Tyler Dolan

Managing Director, Vancouver Island

Victoria

As Managing Director, Tyler is responsible for execution of Colliers business strategy on Vancouver Island.  Tyler has and has been active in the commercial real estate industry since 2001, and spent the majority of his career in both real estate and commercial finance with major financial institutions. In May 2018, Tyler assumed the role of Managing Director for the Colliers Vancouver Island office.

Tyler's priorities include business development, employee engagement, professional development, recruiting, financial management and performance, market identity and public relations. Tyler also takes an active role to ensure that all services offered by Colliers are offered to our clients.

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Sim Waraich

Research Coordinator

Victoria

Sim graduated from the University of Victoria with a Bachelor of Commerce with a focus in Finance and Accounting. Prior experience includes working with Colliers in the Valuation and Advisory Services department in 2017. In 2018 Sim worked with the  British Columbia Investment Management Corporation  with the Investment Valuation team. 

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