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Waterloo Industrial Market Report Q4 2023

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research article

The vacancy rate in Waterloo Region’s industrial market has increased by 60% or 54 basis points (bps) quarter-over-quarter resulting in an overall increase of 124 bps from the beginning of the year.

  • The demand for space in the market, however, remains for spaces below 100,000 square feet. This has led developers to demise their upcoming developments down to smaller units to accommodate that demand.
  • On the investment side, the demand for buying opportunities is still robust with investment volume rising from $80 million transacted in Q3 2023 to $94 million.
  • There were three key developments that were completed and delivered during Q4. This resulted in the highest quarter of new supply over the last five years.


Waterloo Industrial Market Report Q4 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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