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Winnipeg Retail Market Report Q4 2023

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research article

In 2023, the Winnipeg retail market recorded an overall vacancy rate of 3.1%, sustaining a historically low level from the previous year.

  • Leasing activity remained strong, with limited new construction entering the market. While foot traffic increased compared to pre-pandemic levels, rents continue to experience upward pressure due to constrained leasing options and the impact of elevated construction costs.
  • Neighbourhood Centre and Regional mall vacancy exhibited stability, while vacancy rates saw a decline in Community and Convenience Centres.


Winnipeg Retail Market Report Q4 2023

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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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Adam Jacobs

Head of 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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