Office Vacancy Rates fall in city
Bob Andjelic, president of Sun-X Properties, is arguably positioned best to take advantage of the lack of supply in industrial space. Sun-X has recently acquired more than 100 acres of serviced industrial land, including the 26-acre Labatt property. "That 2.9 per cent (vacancy rate) may even be a little low," Andjelic said, "because there is lots of dysfunctional space on the market. There is no doubt there is a shortage of supply, especially quality space." Sun-X is about to commence construction on two 40,000-square-foot multi-tenant industrial buildings and Andjelic said he is looking to get early possession of the Labatt property so he can start first-phase development on that site -a 90,000-square-foot building.
Vacancy rate drops as business booms
Winnipeg is open for business, but its inventory of warehouse and manufacturing space is shrinking, real estate and industry experts say.
Industrial real estate market