Saskatoon Industrial Market Report Q3 2019

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research article

The Saskatoon industrial market has moved into balance over the past 12 months, with declining vacancy and rising absorption. Vacancy within the city has risen modestly to 5.2%, which, while low, is expected to rise again next quarter as more new supply reaches the market.

  • Vacancy within the city has risen modestly to 5.2%.
  • Rental rates have also fallen to an average asking rate of $9.64.
  • Investors have dominated the sales market in the last two quarters, in contrast to the high number of owner-user sales noted at the close of 2018.
  • In total, just under 270,000 square feet of space has transacted for an average price of $145 per square foot.
  • There is currently 241,547 square feet of space under development in the city.

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Saskatoon Industrial Market Report Q3 2019

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Richard Jankowski

Managing Director | Saskatchewan Brokerage

Saskatoon

As Managing Director of Saskatchewan Brokerage operations, Richard's focus is on creating and executing growth strategies through business development and service excellence. In this role, he provides leadership and professional development to the Saskatchewan brokerage teams located in Saskatoon and Regina. Richard has extensive experience in various aspects of commercial and industrial development, commercial real estate operations, project and asset management, and human resource administration. He joined Colliers International after prior roles as a General Manager at Viterra, Chief Operating Officer at FarmPure Foods and most recently, as Managing Director at Avison Young where he spent the past 11 years.

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