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Waterloo Industrial Market Report Q4 2022

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research article

The industrial leasing market remains very strong in Waterloo Region, as 2022 ends. The market has gone up and stayed up for the entirety of the year. Vacancy rates are still quite low across the board and asking net rental rates continue to increase.

  • The advanced manufacturing sector is seeing increased activity as it looks to acquire more industrial space. In relation to that, Eclipse Automation subleased approximately 150,000 square feet in Cambridge.
  • The investment market has taken a bit of a hit in some respects but remains strong in others. Due to the perpetually rising interest rates, the number of transactions in Q4 2022 compared to Q4 2021, decreased by 50%. However, in terms of transactional value, the average sale price per square foot increased by nearly 60% YoY to $220 per square foot.
  • The year-over-year (YoY) growth in net rental rates is 43.2%, the third highest in Canada but the Region’s leasing market remains stronger than its investment market because financing continues to be more difficult to achieve.


Waterloo Industrial Market Report Q4 2022

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Pour plus d’informations, veuillez contacter:

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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Bobby MacDonald

Managing Director, Brokerage | Southwestern Ontario

Waterloo Region

Bobby MacDonald serves as the Managing Director, Brokerage for Southwest Ontario.  In this role, he leads the Kitchener/Waterloo  and Burlington teams in setting the strategic plan to grow revenue, market share, and serve our clients to the highest possbile standards. 

Bobby is an experienced leader with over 20 years managing operations, sales, and client relationships. Prior to joining Colliers in 2022, he was the Director, Operations for NTT’s Millennium 1 Solutions. In his role, he managed frontline customer service in core verticals of Financial Services, Retail, eCommerce, Telecommunications and Government. He was responsible for site launches and recruitment in Thunder Bay, Sudbury, Quebec, and various teams throughout Manila and South Africa.

Bobby's ability to create strong relationships with key landlords, tenants, and brokers has been a great accelerator in his day to day activities and career.

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