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Victoria Retail Market Report Q4 2020

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research article

The Greater Victoria's retail market segment slowed throughout 2020 and vacancy rates increased due to the impacts of COVID-19.

  • Downtown street-front vacancy increased from 3.1% in Q4 2019 to 6.0% in Q4 2020. This can be accredited to the transition to the work-from-home dynamic and a reduction in tourism in the Victoria market.
  • Retail centre vacancy increased from 5.0% in Q4 2019 to 5.8% in Q4 2020. Many tenants survived the pandemic because of essential anchor tenants (grocery, liquor, etc.) and government subsidies.

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Victoria Retail Market Report Q4 2020

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For More Information, Please Contact:

Tyler Dolan

Managing Director, Vancouver Island and Okanagan

Victoria

As Managing Director, Tyler is responsible for execution of Colliers business strategy on Vancouver Island.  Tyler has and has been active in the commercial real estate industry since 2001, and spent the majority of his career in both real estate and commercial finance with major financial institutions. In May 2018, Tyler assumed the role of Managing Director for the Colliers Vancouver Island office.

Tyler's priorities include business development, employee engagement, professional development, recruiting, financial management and performance, market identity and public relations. Tyler also takes an active role to ensure that all services offered by Colliers are offered to our clients.

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