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Saskatoon Retail Market Report Q4 2020

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research article

The most significant impact of the pandemic so far has been felt by small business owners. Increased costs and operating restrictions that resulted in revenue losses is forcing many retailers to pivot their business models in efforts to stay afloat. Fitness, food users and restaurants with footprints larger than 1,500 SF with minimal to no take out revenue are expected to be hit the hardest by the present pandemic.

  • Retail vacancy has experienced an increase of 105 basis points since Q4 2019.
  • Average asking net rates have remained relatively stable at $28.37 PSF for newer developments and $20.87 PSF for existing developments.
  • The longer the pandemic endures, the more businesses will continue to struggle. It is projected that the amount of available space within the market may double or triple once government funding programs cease.

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Saskatoon Retail Market Report Q4 2020

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For More Information, Please Contact:

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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