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Ottawa Industrial Market Report Q2 2022

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research article

Ottawa’s industrial market continues to see strong demand, while supply levels remain dangerously low, threatening to pull interest away from the Greater Ottawa Area.

  • The overall vacancy rate increased by 29 basis points (bps) to 1.1% in Q2 2022, due to several large blocks of space coming onto the market in the Kanata / Deep West and with the completion of a new industrial building in East Ottawa.
  • The overall availability rate rose by 8 bps this quarter to 1.3%.
  • Average net asking rental rates continue to reach historically high levels. This quarter’s average net asking rents increased by $0.80 per square foot to a new record high $13.27 per square foot, representing an increase of 6.4% from Q1 2022 and a growth rate of 13.3% year-over-year (YoY).
  • There are currently eight buildings under construction which will add 585,596 square feet to the market by Q4 2022.
  • Competitive offers for the purchase of industrial buildings persist despite rising interest rates.

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Ottawa Industrial Market Report Q2 2022

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Warren Wilkinson

Managing Director, Ottawa

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. 

Education

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

Affiliations

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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Adam Jacobs

Senior National Director, Research | Canada

Toronto Downtown

Colliers Canada's head of research, leading a cross-country team of 20 mapping, analytics and research professionals. Formerly head of Canada research at Cushman Wakefield and Director of Analytics at Oxford Properties. Featured in mainstream publications such as the Toronto Star, industry publications and podcasts. Specializing in the big picture and the fundamentals driving real estate - demographics, the macro environment and the global economy. 

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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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