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Winnipeg Office Market Report Q4 2023

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research article

Winnipeg’s office market showed resiliency in Q4 and in 2023 overall, despite economic headwinds. With over 50,000 square feet of positive absorption experienced in Q4, this marks the second straight quarter with market gains.

  • While the return to office has been gradual, a primary point of discussion amongst companies remains in how to improve the overall employee experience and bolster in-office attendance. While parking and public transit remain highly valued, creating a customized experience that can’t be easily replicated at home may provide advantages when considering the “modern workplace”.
  • Additional factors that tenants have indicated as “highly valued” include meeting rooms, outdoor spaces, ESG-certified buildings, and available food services. When considering ways to attract new interest or retain existing tenancies, landlords and employers can look to improvements in these areas to promote a sense of confidence and longevity in choosing that location.
  • On the development front, the Wawanesa Insurance building at 372-380 Graham Avenue is nearing completion and is expected for occupancy in Q2 2024. Once completed, this development will further enhance the downtown skyline as the 3rd completed tower of True North Square.

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Winnipeg Office Market Report Q4 2023

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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

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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