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Victoria Industrial Market Report Q1 2021

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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

yler Dolan is the Managing Director, Vancouver Island and Okanagan responsible for the execution of Colliers business strategy in the region. He is also the National Debt Advisory Lead for Canada.

Tyler 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.

Tyler joined Colliers’ Leadership Team in May 2018 working with advisors and operations staff on the success of their clients’ real estate needs. His priorities include business development, employee engagement, professional development, recruiting, market identity, financial management and performance.

Tyler is an alumnus of Royal Roads University with a Bachelor of Commerce, Camosun College with a Diploma in Business Administration, and UBC Sauder School of Business in Mortgage Brokerage Brokerage and Real Estate Trading Services in British Columbia.

Tyler is a past Board Member of the Downtown Victoria Business Association, Peninsula Minor Hockey Association, the Urban Development Institute, and the Victoria Brain Injury Society.

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