Winnipeg Industrial Market Report Q3 2019

research article

In 2019 Q3, demand for Winnipeg’s industrial properties, both from a sale and leasing standpoint, remains high. The Southwest and East segments of the market made gains by positively absorbing a combined 204,342 square feet of inventory, reducing each sector’s vacancy by 0.4% and 0.5% respectively. Though the Northwest in comparison had a negative absorption during this quarter, its vacancy rose a nominal 0.1%.

Development in the Northwest and Southwest sectors of the city has progressed. The Northwest Business Park is underway with Building A, consisting of 175,000 square feet, to be ready for occupancy in mid-2020. While in the Southwest, The McGillivray Business Park launched Phase 1 of its development, which consists of a planned 160 acres of small to medium size fully serviced lots. Recent development has welcomed several new entrants to the Winnipeg market and has opened the door to future growth from local, national, and international levels.

As growth and development continues in the CentrePort Canada area, Inkster Industrial Park appears to be one of the areas most impacted. Several large tenants and users are relocating from the park to these newer industrial areas into buildings with more capacity and modern amenities such as increased ceiling height and more flexible loading capabilities. Heading into Q4, Inkster Industrial Park will be an area to monitor as several +20,000 square foot vacancies are available on the market with more movement expected in the near future. Landlords may need to be more aggressive to find tenants to occupy their buildings. 

The industrial market is expected to remain active as we head into the final quarter of 2019. With the demand for modern industrial buildings continuing to grow, and many projects currently underway, a natural shift within the market is starting as supply begins to meet demand.

 

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Winnipeg Industrial Market Report Q3 2019

For More Information, Please Contact:
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Murray MacRae

Independent Broker | Vice President

Winnipeg

In 1991, Murray joined Collier International's Winnipeg Industrial Division with a background specializing in industrial development and leasing.  With over 30 years of expereince, Murray has established a substantial network of real estate contacts.  He is a dedicated agent renowned for providing high quality, comprehensive services to his clients and customers.

Murray has worked closely with virtually all of Winnipeg's major industrial developers including: Morguard Investments, Crystal Developers, Sun-X Properties Ltd., Terracon Developments, Artis REIT, and many others.

Murray specializes in Winnipeg's diverse industrial market including: the marketing of storage & distribution facilities and manufacturing buildings, and ultimately the negotiation of leases and purchase/sale agreements. 

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Gary Goodman

Vice President

Winnipeg

Gary joined Colliers in 1994 as an industrial real estate specialist.  For 25 years, he has worked almost exclusively as a leasing and sales agent in the Winnipeg industrial real estate market.  Gary is experienced in the sale and leasing of specific-use properties in unique locations, which may require a distinctive marketing approach.

Gary has worked extensively in the sale of industrial land and buildings throughout Winnipeg and has developed a network of industrial real estate business contacts throughout Canada and the United States.

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Jim Kulik

Independent Broker | Vice President

Winnipeg

Jim joined Colliers International Industrial Division in 1992 with a background in industrial real estate and several years of managerial experience in the manufacturing industry.  With over 25 years of real estate experience, Jim has successfully orchestrated numerous high profile industrial real estate transactions.  He has developed excellent negotiating skills which has made him a leader in his field.
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Tom Derrett

Vice President Industrial Winnipeg

Winnipeg

Tom joined Colliers in June 2008 after spending 10 years in a number of Sales and Marketing roles with Labatt Breweries. Tom’s experience with this global company allowed him to work in multiple markets across Canada gaining an extensive knowledge of the consultative selling process. Tom looks forward to creating value with his clients by meeting their immediate and future real estate needs.

Since joining Colliers, Tom has worked exclusively in the industrial market where he specializes in the sales and the leasing of user and investment properties along with the sale of land.  Servicing both local and global clients, Tom and his industrial team have completed over 15 million square feet in transactions along with over 500 acres in land sales over the past 11 years.

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Troy Buchanan

Senior Sales Representative

Winnipeg

Troy joined Colliers in June of 2015 after spending a number of years as a Financial Advisor. During his time with the Bank of Nova Scotia he excelled by taking a holistic approach to every client’s needs. This approach allows Troy to understand his clients business and what is important to their success to help them achieve their real estate goals.

Since joining Colliers, Troy has focused exclusively on Industrial sales and leasing. While developing relationships with many of Winnipeg’s largest landlords he has quickly building a network that is made to succeed.
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Dan Bushuk

Sales Representative

Winnipeg

Dan is a commercial real estate advisor with the Colliers International Winnipeg Industrial Team, specializing in sale and lease transactions. He’s committed to adding value by combining a strong understanding of the industrial market with a consultative selling strategy focused on understanding client needs and finding solutions that help drive their business.

Since joining Colliers, Dan has leveraged the 70+ years of industry experience the Industrial Team has to  help increase his knowledge of the Winnipeg market while  developing a strong network of investors, users, tenants and landlords. 

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