The Winnipeg industrial sector closed 2020 with strong fundamentals and a diverse economic base that continues to show signs of strength despite the effects of the pandemic.
- The fourth quarter ended with low vacancy (3.9%), positive absorption (494,252 SF), and strong asking rental rates with a stable 2% annual growth.
- Continuing its strong momentum, the Northwest market absorbed 552,588 SF of inventory this quarter while vacancy decreased to 4.3 % compared to 5% in the previous quarter.
- The Southwest market reflected a relatively low absorption of 23,657 SF and a decline in vacancy compared to last quarter.
- The largest lease in the quarter was notable as e-Commerce giant Amazon entered Winnipeg leasing 113,310 SF.