The market experienced a significant slowdown driven by uncertainty, causing many investors and tenants to pause major decisions. As conditions stabilize, activity is beginning to return, with limited supply continuing to support values. Despite ongoing constraints, resilient demand is creating opportunities for strategic participants.
The Industrial market as a whole has been resilient and in some sectors of the market, prices have remained competitive even if they’re on the rise.
The office market is seeing steady sales led by owner-occupiers, while investor interest remains limited. Leasing activity is gaining strength, with smaller spaces driving demand and more companies pushing for increased in-office work. Vacancy rates remain elevated, particularly in older downtown buildings, which may require conversion or redevelopment to stay viable.
In Waterloo Region, both the Industrial and Office markets have been driven mostly by Owner-Occupier transactions. Scarcity of land, high development charges and construction costs are fueling industrial re-sales, and A-Class office buildings are proving their resilience with several large notable sales in the area.
The Industrial market has remained resilient overall, however we are starting to see separation between the various sectors. Read the report to learn more about the state of the Industrial market in Waterloo Region, recent transaction highlights and what’s on the market.
Quality office buildings are still commanding strong interest with some notable sale activity, however leases of +20K SF floor plates face a limited Tenant pool. Read the report to learn more about the state of the Office market in Waterloo Region, recent transaction highlights and what’s on the market.
The commercial real estate market showed continued resilience in 2023. The industrial market continues to lead the way in Waterloo Region. Land is selling, buildings are leasing and more are being built. There has been positive movement in the office market for the first time in years and the investment market is surprisingly strong against rising interest rates.
Read our report for more insights on commercial real estate in Waterloo Region.
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