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Ottawa Industrial Market Report Q3 2023

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research article

After three consecutive quarters of rising vacancy, the Ottawa industrial market saw a reversal in the trend as vacancy declined by 23 basis points (bps) to reach 1.2%.

  • This quarter, there were 164,219 square feet of net absorption, driven predominantly by robust leasing activities among small-bay tenants occupying spaces under 10,000 square feet.
  • This quarter, net rental rates rose by a mere $0.08, reaching $15.92; this represents a modest quarter-over-quarter gain of 0.5% and a more substantial year-over-year increase of 7.8%.
  • Seven industrial projects are under construction totaling 982,207 square feet, while another 39 projects totaling 6.0 million square feet are in the planned or pre-leasing stages of development.

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Ottawa Industrial Market Report Q3 2023

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Warren Wilkinson

Senior 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

Head of 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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