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STEPHEN SHERLOCK, Associate Vice President for Cushman & Wakefield Winnipeg,
and past Chair of the Commercial Division of WinnipegREALTORS. He recently spoke to
BOMA about the industrial buildings sector in Winnipeg.

What were some of the noteworthy Where were industrial vacancy
industrial sector deals done in 2016? rates at in 2016? Any predictions for 2017?

SS: In terms of investment, Sherwin Park of (+/-) 728,038 SS: The year-end vacancy rates (according to Wayne
sq. ft. sold, and there were some smaller investment sales Johnson who prepares the Johnson report) are 7.2% for
like 78 Hutchings of (+/-) 29,979 sq. ft. . multi-tenant investment industrial real estate (down
from 7.3% at year-end 2015) so basically maintained and
In terms of leasing, there were some deals done around the
3.1% overall (again, same as last year).
20,000 – 25,000 sq. ft. mark and the small bay (5,000 sq. ft.
to 10,000 sq. ft.) activity was high. All in all, it was a steady My prediction for 2017 is for these rates to maintain or
2016 for the industrial market in Winnipeg. decrease slightly over the year as there is still lack of
product and no major new construction announced. With
new builds down and low vacancy, the market will likely
stay steady over 2017.

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