In the middle of 2019, Regina has seen a decrease in the vacancy rate due to some natural fluctuation in the market. The lingering economy has continued to ensure that there a few new users to absorb the excess space that hit the market in preceding years
- Downtown 10.77% (1.4% Q4 2018)
- Suburban 8.71% (25.3% Q4 2018)
- Total 10.33% (9.2% Q4 2018)
New development has been muted with the exception of the Conexus Credit Union building which will fully owner-occupied. Other future developments will likely lay dormant until pre-leasing is substantially complete.
It remains a tenant’s and over the next two years Colliers expects a significant amount of new vacant space to hit the market.