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Waterloo Industrial Market Report Q1 2023

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research article

The coming years in Waterloo Region’s industrial market will see an unprecedented level of speculative development. With close to 20 million square feet either planned or currently under construction, largely driven by Panattoni, Orlando, and HOOPP, there will be a shift in market dynamics.

  • Historically, the demand for industrial buildings that are below 100,000 square feet has been consistent while supple has dwindled, which has led to perpetual rises in asking net rental rates. For properties over 100,000 square feet, there is greater variability, which will be heightened with much of the new developments, most of which are large bay.
  • Industrial land prices have skyrocketed due to the lack of availability for smaller 2–10-acre parcels leading to a further lack of supply in the sub 100,000 square feet industrial spaces.
  • The development will lead to a ripple effect on multiple other sectors of the region leading to a potential explosion in economic activity.


Waterloo Industrial Market Report Q1 2023

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Pour plus d’informations, veuillez contacter:

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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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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