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Waterloo Industrial Market Report Q2 2021

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research article

The Waterloo Industrial market has now hit a historic low vacancy rate with reaching an all time low of 1.3% with no signs of demand slowing in the Region.

  • Industrial supply has not been able to keep up to the high demand, leading to an imbalance. This is pushing lease rates and sales prices up.  Sales prices have risen 58% year over year.
  • Average Asking Lease rates are continuing to increase but are being held in check by sub-lease space, which now makes up 23% of all vacant space in the region.
  • Construction projects in the Cambridge and Kitchener sub-markets are set to increase the Region’s overall supply by over 2 million square feet, which should help answer the imbalance between supply and demand. However this space will be for large users, over 100,00 square feet and likely command asking rates over $10.00 per square foot.

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Waterloo Industrial Market Report Q2 2021

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For More Information, Please Contact:

Karl Innanen

Managing Director, Broker

Waterloo Region

Karl Innanen quickly became a “spokesman” for the investment real estate market in Southwestern Ontario. He was able to dovetail his economics education from the University of Western Ontario with the practical experiences working in the real estate brokerage field since 1990.

Karl’s expertise is in understanding and analyzing clients' needs in relation to the dynamics of the market, and formulating strategies that will enable the client to attain their business goals.

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Roelof van Dijk

Senior Director, National Research & Analytics | Canada

Toronto Downtown

As Senior Director, Research & Analytics | Canada, Roelof leads the strategy and operation of Colliers Canada Research, delivering market intelligence initiatives that give Colliers and its clients a competitive advantage. He focuses on developing a high-performance national research team that leverages Colliers’ best-in-class market intelligence to produce relevant insights on local and national market and industry trends that inform client decisions, address market needs and support Colliers’ growth strategies.

Roelof has 15 years of experience covering the Canadian commercial real estate market. Prior to his career in commercial real estate, he also worked as a project manager and urban planning consultant for residential developers across the Greater Toronto Area.

Roelof is regularly cited in national publications, such as The Globe & Mail, CBC News, Bloomberg, Reuters, Maclean’s Magazine and the National Post, as well as in local outlets across Canada.

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