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Waterloo Office Market Report Q1 2021

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research article

Availability in the Waterloo office market continues to rise, with historic levels of available sublet space in the Region.

  • Negative absorption was recorded for the third consecutive quarter, leading to one of the longest periods of negative absorption since 2017.
  • Despite increases in available sublease and direct lease space, face rates are continuing to hold steady and have even seen an increase of 0.9% year over year.
  • Sublease availability has seen its slowest growth in the past 3 quarters, showing signs that the office market could start to recover and rebuild by the end of 2021 or beginning of 2022.

Waterloo Office Market Report Q1 2021

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Pour plus d’informations, veuillez contacter:

Karl Innanen

Managing Director, Kitchener | Broker

Waterloo Region

Karl Innanen quickly became a “spokesman” for the investment real estate market in Southwestern Ontario. He was able to dovetail his economics education from the University of Western Ontario with the practical experiences working in the real estate brokerage field since 1990.

Karl’s expertise is in understanding and analyzing clients' needs in relation to the dynamics of the market, and formulating strategies that will enable the client to attain their business goals.

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Roelof van Dijk

Senior Director, National Research & Analytics | Canada

Toronto Downtown

As Senior Director, Research & Analytics | Canada, Roelof leads the strategy and operation of Colliers Canada Research, delivering market intelligence initiatives that give Colliers and its clients a competitive advantage. He focuses on developing a high-performance national research team that leverages Colliers’ best-in-class market intelligence to produce relevant insights on local and national market and industry trends that inform client decisions, address market needs and support Colliers’ growth strategies.

Roelof has 15 years of experience covering the Canadian commercial real estate market. Prior to his career in commercial real estate, he also worked as a project manager and urban planning consultant for residential developers across the Greater Toronto Area.

Roelof is regularly cited in national publications, such as The Globe & Mail, CBC News, Bloomberg, Reuters, Maclean’s Magazine and the National Post, as well as in local outlets across Canada.

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