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Victoria Industrial Market Report Q3 2023

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research article
  • Greater Victoria's industrial vacancy rate received a modest increase to 0.9% due to new supply entering the market. This Vacancy is the second lowest in the country behind Toronto.
  • Victoria's market fundamentals continued to drive rental rates higher. For Q3, the asking net rent increased to an average of $20.05 per square foot.
  • West Shore Business Park completed phase 1 adding 57,108 square feet of new industrial product to the market. As the first project to completion this should set expectations for other projects coming to market soon.


Victoria Industrial Market Report Q3 2023

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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

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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