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Winnipeg Industrial Market Report Q2 2022

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research article

The Winnipeg Industrial market continues to see strong demand throughout Q2 2022. Absorption remains high with over 520,000 square feet positive this quarter, the largest total in over 4 years.

  • Industrial average asking net rental rates continue to rise, reaching an all-time high of $8.95 shattering the previous record of $8.33 from the first quarter of 2022.
  • Overall total vacancy for the Winnipeg market decreased to 2.3% compared to 3.0% the previous quarter.
  • With the high demand for industrial space and a scarcity of serviced land in the Greater Winnipeg Area, investors are taking a more proactive approach in off-market transactions to find opportunities
  • Inflationary pressures are contributing to increased construction costs that could become a prohibitive headwind, but this has not yet slowed down developers from building up more industrial space with over 699,000 square feet of industrial product under construction.

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Winnipeg Industrial Market Report Q2 2022

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Dan Chubey

Managing Director | Winnipeg Brokerage

Winnipeg

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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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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