The retail market in Regina has evolved in 2020 due to the pandemic. Reduced capacity guidelines have pushed retailers to leap into services like curb-side pickup and independent ecommerce websites.
- Vacancy has stayed relatively steady at 6% overall, a slight increase from the last quarterly report.
- In the last quarter of 2020, there was an upsurge in in-store traffic as residents were encouraged to avoid private gatherings and go out to public venues. This has encouraged the arrival of new merchants like Charmed Aroma and Scorteus Leather in the Cornwall Centre.
- At the close of 2020, average rental rates were at $17.72 PSF; the federal government continues to offer rent relief programs for commercial tenants to help them keep their doors open.