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Victoria Industrial Market Report Q3 2022

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research article

The Greater Victoria industrial sector remains strong and undersupplied with an all-time low vacancy rate of 0.1% as demand continues to outpace supply.

  • Greater Victoria’s industrial vacancy continues to be amongst lowest in the country as it waits for new inventory to be delivered in 2023 and 2024, with 557,000 square feet under construction.
  • Greater Victoria’s industrial rental rates are up 11% YoY, averaging $17.79 per square foot. This is the second highest in the country after Vancouver which averages at $20.44 per square foot.

Victoria Industrial Market Report Q3 2022

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Pour plus d’informations, veuillez contacter:

Tyler Dolan

Managing Director | Vancouver Island


As Managing Director, Tyler is responsible for execution of Colliers business strategy on Vancouver Island.  Tyler has and has been active in the commercial real estate industry since 2001, and spent the majority of his career in both real estate and commercial finance with major financial institutions. In May 2018, Tyler assumed the role of Managing Director for the Colliers Vancouver Island office.

Tyler's priorities include business development, employee engagement, professional development, recruiting, financial management and performance, market identity and public relations. Tyler also takes an active role to ensure that all services offered by Colliers are offered to our clients.

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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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