Winnipeg industrial vacancy rate increases as activity surges
Developers remain confident despite return of space by some users
Peter Mitham, Jul 29, 2026
Winnipeg bucked a downward trend in industrial vacancies nationwide in the second quarter, but a host of new development proposals underscores confidence among developers.
The city’s industrial availability rate rose to 3.8 per cent in the quarter, according to CBRE Ltd., up from 3.4 per cent in the previous quarter and 3.2 per cent a year earlier. The increase ran counter to the national market, where availability fell for the first time since the end of 2022.
Rising vacancies in Winnipeg were punctuated by the return of 278,000 square feet in the second quarter – the largest return of any market CBRE tracks in Canada except for London, Ont.
Yet the apparent weakness didn’t tell the whole story.
“Despite recent large new listings resulting in negative absorption for the city this quarter, underlying industrial demand remains robust,” CBRE reported. “This strong performance, combined with consistent construction growth, is indicative of developers’ confidence in future occupancy, suggesting a quick absorption of new inventory as we advance through 2026.”
Hundreds of new acres of development were announced during the quarter, underscoring the confidence among developers. Recently announced projects include Catalyst Park, a 700-acre development at CentrePort Canada announced by the Jessiman family, and Sturgeon Business Park, a project by MMI Group Inc. totalling 400 acres. The latter complements recent announcements by the Winnipeg Airports Authority and tri-modal transportation opportunities.
Moreover, buyers are showing a willingness to pay for space. Winnipeg saw the greatest increase in industrial prices of any market in Canada at 16.3 per cent, for an average of $200 per square foot. This compares to $172 per square foot a year ago, itself an 18.6 per cent increase versus 2024.
By contrast, London not only saw occupiers return more 324,000 square feet in the second quarter but also saw sale prices decline 16.2 per cent, faster than anywhere else in Canada.
www.westerninvestor.com/british-columbia/winnipeg-industrial-vacancy-rate-increases-as-activity-surges-12585425
