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Winnipeg Industrial Market Report Q1 2022

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research article

Winnipeg’s industrial market started 2022 on a strong note. There was over 380,000 square feet of positive absorption, the third-largest amount in the past sixteen quarters.

  • The industrial average asking net rental rates increased to a new all-time high of $8.33 per square foot, shattering the previously set record of $8.02 from Q3 2021.

  •  As the industrial vacancy rate continues to decrease and average asking net rents continue to increase, new development also continues to be quickly absorbed at rates transacted well above the market average.

  • The City of Winnipeg’s commitment in their recent budget to servicing Centreport South is a positive sign for increased development in the area and to continue to fuel the positive demand for the new, amenity-rich product in the Greater Winnipeg Area.


Winnipeg Industrial Market Report Q1 2022

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Dan Chubey

Managing Director | Winnipeg Brokerage


Dan Chubey is the Managing Director, Winnipeg brokerage responsible for leading the sales advisor team as well as oversees operations, recruitment and strategic business development. Dan played an active role integrating the Colliers Winnipeg office with Colliers International and his focus is on leveraging our strong systems and technology to build for future growth.

Dan joined Colliers International in September 2018 after a 15 year career with global brewing leader ABI where his previous roles saw him as a Director with leadership responsiblity for the commercial business units of British Columbia, Ontario, and Manitoba. His focus was on the development of high performing, engaged teams that grew market share while also prioritizing key financial metrics including top line and EBITDA growth.

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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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