The office market is continuing to see increased vacancy, going up 4% from last year. A portion of this can be attributed to owner-occupied buildings now offering space for lease, increasing the market’s inventory.
- The future of office work is still up for debate as office tenants determine post-pandemic work requirements and how that will affect their needs for office space. We could expect, depending on the choices of office tenants, to see a slow rotation of workers back into the office with full attendance by end of August.
- The Regina market should not expect to see any new office developments until vacancy rates drop to healthy levels.