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Ottawa Industrial Market Report Q4 2023

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research article

In Q4 2023, Ottawa’s industrial market experienced an 80-basis point (bps) increase in its vacancy rate, reaching 2.0%, accompanied by a negative net absorption of 166,455 square feet. This uptick in vacancy does not indicate a market softening but rather the outcome of a necessary infusion of new supply.

  • The rapid rise in rental rates seen in 2022 has subsided in 2023. This quarter, the average net asking rental rates have dropped by $0.32 to $15.61 per square foot, mainly due to the introduction of several blocks of old generation space to the market. This reflects a year-over-year decline of 2.8%.
  • Six industrial projects are under construction totaling 1,199,950 square feet, while another 41 projects totaling 5.6 million square feet are in the planning or pre-leasing stages of development.

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Ottawa Industrial Market Report Q4 2023

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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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