Figures
Winnipeg Office Figures Q3 2026
Suburban resurgence fuels broad-based office recovery
October 7, 2026 5 Minute Read
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- Winnipeg’s office market gained momentum this quarter, recording 107,000 sq. ft. of positive net absorption and a vacancy rate of 15.1%. This performance, the strongest since Q1 2024, reflects broad-based demand and a renewed push for occupancy across both downtown and suburban sectors.
- The suburban market significantly tightened, with vacancy dropping to 9.7%, while the downtown core remained stable. Market-wide rental rates held steady at $16.09 per sq. ft., though suburban assets saw a $1.25 per sq. ft. year-over-year increase, signaling strong demand for high-quality, modern workspace.
- Development remains measured, with 28,000 sq. ft. currently under construction. Future supply remains focused on high-quality suburban flex-office, with major projects like Waters Business Park and The Refinery District in the pipeline, reflecting long-term developer confidence in the region’s evolving workspace needs.