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Victoria Industrial Market Report Q1 2022

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research article

The Greater Victoria industrial sector remains strong and undersupplied with a low vacancy rate of 0.2% as demand outpaces supply.

  • Victoria’s industrial vacancy continues to be the lowest in the country as it waits for new inventory to arrive in 2022.
  • Victoria’s average asking rent, $17.07 per square foot, is currently the highest in the country, 0.5% above Vancouver’s ($16.93 per square foot) and approximately 24% higher than in Toronto ($13.75 per square foot).

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Victoria Industrial Market Report Q1 2022

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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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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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