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Ottawa Industrial Market Report Q4 2021

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research article

Scarcity of available industrial space and limited delivery of new buildings have resulted in net asking rental rates increasing to reach historically high levels, and they continue to rise in Ottawa.

  • Ottawa's overall industrial vacancy rate dropped 40 basis points (bps) to 1.0% due to 186,134 square feet of positive net absorption.
  • This quarter net asking rates saw a $0.78 increase in average net rents to $12.27 per square foot, representing an increase of 6.8% from Q3 2021 and a growth rate of 12.9% year-over-year (YoY).
  • Due to the strong market fundamentals, the Ottawa industrial market is also in high demand from an investment perspective, resulting in new benchmark sales figures for existing buildings and vacant industrial land sites.

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Ottawa Industrial Market Report Q4 2021

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Warren Wilkinson

Managing Director, Ottawa


Company Experience

Warren joined Colliers International in January of 2005.  After ten years as a leasing expert in the greater Ottawa area, Warren started the transition from Sale Representative to Managing Director.  Backed by a strong clientele basis and a working knowledge of the brokerage business, Warren has grown the Colliers Ottawa thought experience and mentorship. 

Prior Experience

After an extensive working experience in Sydney, Australia with the Attorney Generals office in the Compensation Courts of New South Wales, Warren returned to Canada to begin his career in Commercial Real Estate.

Professional Accomplishments

Described by his peers as an eager, passionate worker, Warren is concentrating his efforts on continuing to be a purposeful, strong leader in the Ottawa Commercial Real Estate marketplace.  Warren is always looking for new and positive ways to help grow the Ottawa office’s brand and reputation as the city’s leading, fully integrated commercial real estate firm. 


Warren is an Ottawa native who obtained his Bachelor of Arts degree in Law from Carleton University in the year 2000.


Warren is actively involved in several sports leagues, a volunteer with Kanata Minor Hockey Association (KMHA), Kanata Little League Baseball Association (KLLBA) and is a member of BOMA Ottawa and the Ottawa Board of Trade.  In addition Warren is a proud alumni of Fight for the Cure – participant.

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Leo Lee

Director, National Research Operations | Canada

Toronto West

Leo Lee is the Director of National Research Operations | Canada and oversees the strategic direction and operations of Colliers Canada Research. He focuses on developing the capabilities of the national research team that leverages Colliers' best-in-class market intelligence and platforms to provide clients with valuable market insights.

Leo joined Colliers International in 2008 and was most recently the Regional Director of Research for Eastern Canada.

He has over 10 years of experience in the real estate market across Canada and New Zealand and draws on his professional experience as a commercial appraiser and real estate consultant.

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