The Greater Victoria Retail market segment maintained positive momentum throughout 2019. Vacancy rates for both street front and shopping centres declined this year.
- Downtown street front vacancy declined to 3.1% while the shopping centre vacancy rate declines to 5.0%
- New supply for the year includes the completion of Belmont Markets in City of Langford adding a total of 160,000 square feet.
- Major transactions include the sale of Tillicum Centre and the news of Walmart's expansion with its third location in Victoria.