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Waterloo Office Market Report Q2 2022

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research article

The Second quarter of 2022 showed positive absorption across the region, with the majority of movement in the City of Kitchener.


  • Average asking net rents saw a year-over-year increase of 6% to $15.97 per square foot, with A class space in downtown sub-markets seeing the largest increases.
  • The overall availability dropped by almost 100 basis points quarter-over-quarter to 19.4%, while vacancy dropped by 10 bps year-over-year to 16.9%.


Waterloo Office Market Report Q2 2022

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For More Information, Please Contact:

Adam Jacobs

Senior National Director, Research | Canada

Toronto Downtown

Colliers Canada's head of research, leading a cross-country team of 20 mapping, analytics and research professionals. Formerly head of Canada research at Cushman Wakefield and Director of Analytics at Oxford Properties. Featured in mainstream publications such as the Toronto Star, industry publications and podcasts. Specializing in the big picture and the fundamentals driving real estate - demographics, the macro environment and the global economy. 

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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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