Page 58 - BOMA Manitoba 2021 Commercial Building Directory
P. 58

We expect continued strong demand for
                                                                              industrial space going forward with the
                                                                              largest demand for new space being driven
                                                                              by e-commerce. While there are a number
                                                                              of projects under way, we do expect to see
                                                                              a slow down in new speculative projects
                                                                              while the market looks to absorb the
                                                                              existing new development space that is
                                                                              currently available.

                                                                              End user buildings continue to be in high
                                                                              demand on a sale basis due to historically
                                                                              low interest rates.

                                                                              The COVID-19 pandemic has had a net
                                                                              positive impact on the market with the
                                                                              Province leasing over 200,000 square feet
                                                                              for storage of PPE on short to medium
                                                                              term leases.
                                                                              More competition is coming in terms of
                                                                              additional land development opportunities
                                                                              is soon forthcoming with over 600 acres in a
                                                                              rail focused park within CentrePort expected
                                                                              to formally come to market shortly.



















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