With COVID restrictions easing across Manitoba, businesses continue to prioritize their spatial requirement decisions that have been on pause through the pandemic.
- Average asking net rental rates increased across the board, climbing to just over $16 per square foot. This represents a 13.4% growth rate increase year-over-year.
- Winnipeg’s office vacancy declined by about 40 basis points in Q1, dropping to 12.9%. Optimism is on the rise for the sector, as vacancy decreased across Class A, B, and C buildings.