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Ottawa Industrial Market Report Q4 2022

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research article

Ottawa's industrial market continues to experience strong demand from e-commerce and distribution tenants. However, leasing activity has slowed down somewhat over the past two quarters due to a need for more suitable availabilities and the uncertainty created by rising interest rates.

  • Five new industrial buildings were completed in Q4 2022, totalling 310,152 square feet. This new supply contributed to Ottawa's industrial vacancy rate rising by 37 basis points (bps) to 1.1% in Q4 2022, while the availability rate increased by 44 bps to 1.7%.
  • There was 174,568 square feet of net absorption, with the majority occurring in the Kanata / Deep West submarket.
  • This quarter's average net asking rents increased by $1.28 per square foot to $16.05 per square foot, representing an increase of 8.7% quarter-over-quarter.
  • There are 367,781 square feet of industrial space under construction in six projects (three in East Ottawa and three in Kanata).
  • Due to the strong market fundamentals, the Ottawa industrial market is also in high demand from an investment perspective.

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Ottawa Industrial Market Report Q4 2022

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Pour plus d’informations, veuillez contacter:

Warren Wilkinson

Managing Director, Sales Representative

Ottawa

Company Experience

 

Warren joined Colliers International in January of 2005 after three years in the Commercial Real Estate business. Equipped with experience in research and marketing, Warren obtained his Real Estate license in 2003, and has been concentrating his efforts on establishing a strong clientele basis while gaining knowledgeable experience from his fellow employees, past & present listings and Tenant Representation mandates.

Prior Experience

 

After an extensive working experience in Sydney, Australia with the Compensation Courts of New South Wales, Warren returned to Canada to begin his career in Commercial Real Estate.

Professional Accomplishments

Described by his peers as an eager, passionate worker, Warren is concentrating his efforts in the field of Industrial leasing. Warren is always looking for new and positive ways to help grow his business while maintaining strong relationships with those clients past and present.

Education

 

Warren is an Ottawa native who obtained his Bachelor of Arts degree in Law from Carleton University in the year 2000.

Affiliations

 

Warren is actively involved in several sports leagues, a hockey coach with Kanata Minor Hockey Association (KMHA) and is a member of BOMA Ottawa.

Notable Transactions

 

Clients who have benefited from Warren’s past efforts include the following; Dymon Capital Corporation, Standard Life Investments, Colonnade Developments, Ontario Realty Corporation, PWGSC, Parkin Architects, Merkburn Realty and Baxtec Mechanical, Healthcare of Ontario Pension Plan, G&K Services and Flexmasters.

 

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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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