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Victoria Industrial Market Report Q1 2021

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research article

The industrial market has seen continued strength in Greater Victoria. Average overall vacancy decreased from 1.0% in Q4 2020 to 0.7% in Q1 2021, the second lowest in all of Canada.

  • The average net rental rate is the highest in the country, currently sitting at $15.61 per square foot.
  • The Westshore region continues to lead the way in new construction. Over 375,000 SF of industrial space will be added to the Westshore in the coming years.

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Victoria Industrial Market Report Q1 2021

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For More Information, Please Contact:

Tyler Dolan

Managing Director, Vancouver Island and Okanagan

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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