Downtown Winnipeg businesses moving to newer office buildings

A CBRE report says downtown Winnipeg office vacancy rose slightly to 18.6 per cent in Q4 2025, and many firms are relocating from older Exchange District buildings to newer spaces between Norte Dame Avenue and Broadway.

Downtown Winnipeg is seeing businesses move from older office buildings into newer spaces, according to a CBRE report covering the fourth quarter of 2025. The report found downtown office vacancy rose slightly to 18.6 per cent in Q4 2025. Many businesses are relocating from lower, older buildings such as in the Exchange District to newer offices between Norte Dame Avenue and Broadway. Local officials and real estate professionals note amenities and building features are influencing those moves. Key details: - CBRE reported downtown office vacancy increased to 18.6 per cent in Q4 2025. - Office vacancy across the city rose by less than one percentage point to 16.5 per cent in Q4 2025. - The report found movement mainly from older, lower-ranked buildings in the Exchange District to newer spaces between Norte Dame Avenue and Broadway. - Paul Kornelsen, CBRE Winnipeg managing director, said features such as skywalk connections, 24-7 security and modern elevator dispatch systems are increasingly appealing to tenants. - Loren Remillard, president of the Winnipeg Chamber of Commerce, said more businesses are opening than closing downtown and emphasized the importance of filling the spaces that have been vacated because downtown office workers support hospitality, restaurants, arts and culture, and sporting venues. Summary: The tenant shift toward newer buildings may change which downtown locations host workers and the businesses that serve them, while vacancy rates remain somewhat elevated. Undetermined at this time.