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Winnipeg Industrial Market Report Q3 2022

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research article

The Greater Winnipeg industrial market remains strong with a positive sentiment despite the increase in interest rates. Coupled with low vacancy and high demand, building values and rental rates continue to rise fueled by the new supply coming on the market with higher asking rentals rates and a low supply in older inventory.

  • Industrial average asking net rental rates continue to rise, reaching another all-time high of $9.75 shattering the previous record of $8.95 from the second quarter of 2022.
  • Overall total vacancy for the Winnipeg market decreased to 1.5% compared to 2.3% in the previous quarter.
  • The rising construction costs and interest rates have not significantly impacted or slowed down new construction mainly for well-capitalized developers as they continue to move forward with new construction projects.
  • Lack of service compound land has resulted in many trucking companies moving outside of the Winnipeg catchment area with many rural municipals such as St Andrews gaining major attraction despite not having the same services as the city of Winnipeg offers.

Winnipeg Industrial Market Report Q3 2022

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Pour plus d’informations, veuillez contacter:

Dan Chubey

Managing Director | Winnipeg Brokerage

Winnipeg

Dan Chubey is the Managing Director, Winnipeg brokerage responsible for leading the sales advisor team as well as oversees operations, recruitment and strategic business development. Dan played an active role integrating the Colliers Winnipeg office with Colliers International and his focus is on leveraging our strong systems and technology to build for future growth.

Dan joined Colliers International in September 2018 after a 15 year career with global brewing leader ABI where his previous roles saw him as a Director with leadership responsiblity for the commercial business units of British Columbia, Ontario, and Manitoba. Recognized on numerous occassions as a top performer, his focus was on the development of high performing teams that grew market share while also prioritizing key financial metrics including top line and EBITDA growth.

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Adam Jacobs

Senior National Director, 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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