The prominence of the retail nodes within emerging neighbourhoods has fueled development activity since 2014 and 2019 was no different. Over the past 6 years, the retail sector has grown by nearly 12.8% as a result of new inventory introduced throughout the City. Much of this inventory has been developed within emerging neighbourhoods such as Brighton, Kensington, The Hamptons, and The Meadows.
- Year-over-year Vacancy declined by 19 basis points to 4.61%
- 370,325 square feet of new inventory introduced throughout the year
- Asking rates for new inventory hold steady; existing rates witness a modest softening