The Waterloo Region Industrial Market Holds Steady.
As I was reviewing the statistics for our quarterly fall market reports, I couldn’t help but think how fortunate we are to live and work in a market that seems to defy gravity. At this time in 2008, the outlook was questionable and, although we went through a difficult period with very limited activity, the Region seemed to rebound at a quicker pace than other Southwestern Ontario cities.
Our Semi-Annual Waterloo Region Office & Industrial Market Reports released today revealed some interesting trends affecting tenants, developers and owners in the area. Highlights from the report include:
- A region-wide rise in office vacancy – Waterloo’s vacancy rises over 5% from Q2 2011
The last three years have been a whirlwind period for industrial related companies in Waterloo Region. Still reeling from the collapse of the US economy and subsequent ripple effect that reached Canada, the industrial community, and most notably the manufacturing sector, was struggling and developer confidence had been rattled, essentially grinding to a halt any plans for investment in the industrial real estate market.
Recently, one of our clients asked: “Why do I have to pay $6.00/SF when your market report shows an asking rent of under $4.00/SF?” The answer is simple; market reports show average data for all industrial inventory and do not reflect differences in the quality of buildings. Read more
It’s a good investment, I swear!
A new 10,000 square foot office building is beginning to take shape in the Cambridge Business Park on Saltsman Drive. Kitchener and Cambridge aren’t exactly experiencing a shortage of office space, however, demand for this particular “A Class” building is expected to be strong. Read more