Vacancy rate drops as business booms
Wendy Stephenson, Business Editor
Winnipeg Sun, Volume 17 Number 346, Saturday December 13, 1997
Winnipeg is open for business, but its inventory of warehouse and manufacturing space is shrinking, real estate and industry experts say. "It's happened quite quickly," said Sandy Shindleman, president of Shindico Realty. "Where there was a buyer's market as late as one year ago, it's moving toward a seller's market. Vacancy rates are dropping." Ken Krotch, a real estate broker with Stevenson & Co., said the warehouse and manufacturing vacancy rate currently stands at about six per cent, compared to 4 ½ percent for the past couple of years. "While the number appears to be up, several very large buildings came available this year - Eaton's warehouse and Livingston, which account for one-million square feet of existing space between the two. "If you factor those out, the vacancy rate is probably under three per cent."