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Victoria Office Market Report Q3 2023

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research article
  • The Victoria office market experienced another quarter of consistent leasing activity. The overall vacancy rate increased to 6.5%.
  • Sublease volumes decreased by 23.9% from the previous quarter, returning to levels seen at the beginning of the year. Sublease space amounted to 50,414 square feet, which represents 8.6% of the total vacancy.
  • Plexxis Tower completed construction in Q3, with occupancy scheduled for late this quarter. This new six-storey Class A suburban office building offers 67,074 square feet of brand-new office space, and 9,075 square feet of mainly ground floor retail opportunities. The building will be partially tenanted by Plexxis itself.


Victoria Office Market Report Q3 2023

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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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