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Winnipeg Industrial Market Report Q3 2023

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research article

After experiencing historically low vacancy in Q4 2022, Winnipeg’s industrial vacancy rate increased for the third quarter in a row. 

  • With this increase in vacancy, the weighted average asking rate has declined slightly year-over-year as a result of new availability in older, lower priced product. 
  • Product under construction remains high with over 700,000 square feet of industrial supply under construction, with close to half of it scheduled to be completed before the end of the year.
  • Absorption of new supply has slowed as all asset classes across Winnipeg, including industrial, are increasingly feeling the effects of inflationary and interest rate pressures


Winnipeg Industrial Market Report Q3 2023

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Pour plus d’informations, veuillez contacter:

Dan Chubey

Managing Director | Winnipeg Brokerage


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

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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