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Victoria Industrial Market Report Q1 2020

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research article
By Tyler Dolan

Although this quarter’s industrial market statistics do not show any significant impacts of COVID-19, based on economic projections the Victoria industrial market will not remain unscathed. However, the Victoria industrial market is proving to be resilient – April and the beginning of May saw a limited number of tenants requesting rent relief, and we predict the industrial market is poised to rebound quickly from COVID-19.

  • The fundamentals of the Victoria industrial real estate market have been very strong leading into the COVID-19 situation. Vacancy is hovering near record lows.
  • Weighted average asking net rental rates are hovering at records highs.
  • The statistics reflect the entire quarter and there is a lag between real estate markets and economic impacts - as the COVID-19 situation is still in early stages and very dynamic, we at Colliers are monitoring the market very closely.
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Victoria Industrial Market Report Q1 2020

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For More Information, Please Contact:
Tyler Dolan | Colliers | Victoria

Tyler Dolan

Managing Director, Vancouver Island and Okanagan

Victoria

 Call now  +1 250 414 8388
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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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