Saskatoon Office Market Report Q2 2019

research article
The new development at River Landing is causing a ripple effect throughout the office market, increasing vacancy and average asking net rental rates. Vacancy has risen to 16.5% citywide and a further 653,00 square feet of space is under construction. Colliers predicts a further increase in vacancy over the coming years, especially in older B and C class buildings.

  • City-wide vacancy stands at 16.5%.
  • Asking net rate rises to $23.08 as River Landing creates a new level of premium rates.
  • There remains over 600,000 square feet of office space under construction.
  • Co-working space is becoming more popular with an estimated 66,000 square feet of flexible working space available.

 

Saskatoon Office

Saskatoon Office Market Report Q2 2019