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Victoria Retail Market Report Q4 2021

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research article

The Victoria retail sector fared well during the ongoing trials of the pandemic in 2021.

  • Shopping centre vacancy in Q4 2021 decreased compared to Q4 2020, and we saw 82,000 SF of absorption.
  • Downtown street-front vacancy increased from 6.0% in 2020 to 7.9% in 2021. Of this 7.9% vacancy, 1.9% is slated for redevelopment.
  • Investment was at a high point for the market at $425 million. This was number was inflated by the sales of Mayfair Mall and Eagle Creek Village.


Victoria Retail Market Report Q4 2021

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Tyler Dolan

Managing Director, Vancouver Island and Okanagan


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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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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