The retail market in Saskatoon remains the city’s most in demand commercial real estate asset class. While vacancy has increased and rents have decreased in both the industrial and office leasing markets, retail Landlords in the city are experiencing low vacancies and stable rental rates.
- Large footprint buildings contribute a vast portion of the 3.21% retail vacancy.
- Retail development should remain strong as new neighbourhoods throughout the City fill in.
- Asking rental rates remain unchanged since the beginning of 2017 with new retail developments commanding $32/SF while the City average holds at $25/SF.
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