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Saskatoon Office Market Report Q4 2021

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research article

Overall vacancy in the Saskatoon office market increased from 15.8% in Q4 2020 to 16.3% in Q4 2021 due to downtown market conditions albeit offset by a strong suburban office market. The downtown office market, on the other hand, has experienced a slight increase in vacancy this quarter.

The development at River Landing has been tenanting much more quickly than expected with the East Tower being 87% leased, while only two floors of available space remain at Nutrien Tower. Once River Landing is fully tenanted, we expect to see movement within the remaining buildings as tenants can upgrade their current space to an appropriate quality building with updated amenities in the Central Business District.



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Saskatoon Office Market Report Q4 2021

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Richard Jankowski

Managing Director | Saskatchewan Brokerage

Saskatoon

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.

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Leo Lee

Director, National Research Operations | Canada

Toronto West

Leo Lee is the Director of National Research Operations | Canada and oversees the strategic direction and operations of Colliers Canada Research. He focuses on developing the capabilities of the national research team that leverages Colliers' best-in-class market intelligence and platforms to provide clients with valuable market insights.

Leo joined Colliers International in 2008 and was most recently the Regional Director of Research for Eastern Canada.

He has over 10 years of experience in the real estate market across Canada and New Zealand and draws on his professional experience as a commercial appraiser and real estate consultant.

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