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Winnipeg Office Market Report Q2 2021

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research article

The second quarter of the year began with Manitoba in its most strict lockdown orders of the last 18 months. However, as the weather warmed and vaccine rollouts increased, the province shifted into a staged re-opening plan.

  • Despite recent health orders from the provincial government allowing companies to call employees back to the office overall vacancy still increased by 40 basis points to 13.3%.
  • The Suburban market experienced an overall negative absorption of 32,000 SF with significant consolidation occurring in the Class B market.
  • As interest rates remain at historic lows, several office occupants made a shift in their real estate planning from leasing to owning.
  • The similarities in asking rates, along with market inducement packages offered by downtown Landlords, are compelling for tenants to conduct a full market analysis versus solely sourcing one area of the city.

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Winnipeg Office Market Report Q2 2021

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For More Information, Please Contact:

Dan Chubey

Managing Director

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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