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Winnipeg Retail Market Report Q4 2022

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research article

The Winnipeg retail market’s overall vacancy rate in 2022 was 3.1%, yet another record low. According to the Colliers Retail Market Survey, leasing activity was very strong, while new construction projects were limited to a select few sites. The industry has seen increased foot traffic and recovered sales activity, but some sectors are still struggling to recover to pre-pandemic volumes. There has been upward pressure on rent due to limited options and high construction costs.

  • Power Center vacancy was down 180 basis points (bps). The significant drop in vacant space was largely due to adding alternative uses to the tenant mix, including fitness/recreation, restaurants, discount retailers, furniture, and medical/professional.
  • Neighborhood Centres vacancy dropped by 100 bps. Longstanding neighborhood centres in quality suburban markets had temporary vacancies in 2022 that were quickly filled with substitute tenants.
  • The Winnipeg retail market’s strong leasing activity was consistent in other categories in 2022.
 

Winnipeg Retail Market Report Q4 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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John Prall

Independent Broker | Vice President

Winnipeg

As Vice President of Colliers International in Winnipeg, John has been involved with all aspects of real estate management and brokerage. John has comprehensive experience and extensive knowledge of retail/shopping centre leasing, land sale and acquisition, new development feasibility, free-standing building sales and leasing, and tenant and landlord representation.


John has been specializing in retail exclusively for the past 32 years. He was a partner in Pratt McGarry Inc., holder of the license agreement with Colliers International in Manitoba, until its recent sale in 2018.

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Kris Mutcher

Vice President

Winnipeg

Kris joined Colliers in 2003 as an agent in the retail division specializing in retail landlord and tenant representation in Winnipeg and the surrounding areas.  Since then Kris has worked on a variety of retail projects ranging from new developments, free-standing buildings,  malls and strip centres throughout Manitoba and north-western Ontario. Kris focuses on providing comprehensive expert advice and  building strong long term relationships with all of his clients.

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