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Waterloo Industrial Market Report Q2 2023

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research article

The industrial market overall in Q2 in Waterloo Region is levelling off in terms of lease rates as well as activity as almost 6 million square feet and although absorption was negative this quarter, the Region’s industrial vacancy rate is still lower than what it was this time last year.

  • Limited availability of smaller parcels in the historically key 2-to-10-acre range, coupled with high construction costs, are contributing to a tight market for industrial space under 100,000 square feet, particularly for traditionally owner-occupied markets such as Cambridge and Brant County.
  • Vacancy rates remain at historically low levels, a trend we see continuing over the next two quarters particularly for both tenants and buyers in the sub 100,000 square foot size range who find the market difficult to navigate.
  • We have yet to see the full impact of interest rates on pricing for owner-occupier opportunities and to date there has been little to no change in achieved per square foot sale prices. As demand continues to outpace supply for acquisition opportunities pricing will remain stable.


Waterloo Industrial Market Report Q2 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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