Saskatoon Retail Market Report 2018

Despite remaining one of the strongest performing commercial real estate assets, Saskatoon’s retail market is not immune to prevalent economic factors in the province and Saskatoon is now experiencing a modest rise in retail vacancy. 

 

  • In 2017, 250,000 square feet of inventory completed development; more than half of which accounts for Phase V of Preston Crossing.
  • Despite significant leasing activity in new retail developments, the closure of Sears and Wholesale Sport increased the vacancy rate from 4.3 percent in 2016 to 4.55 percent in 2017.
  • The impeding legalization of marijuana has encouraged a variety of distributors ranging from small start-ups to major national organizations to establish locations throughout the City.
  • Saskatoon and area has garnered national attention in recent years for its phenomenal growth, but this growth is tapering substantially over the short-term as new residential areas are slower to sell.

Saskatoon Retail Market Report 2018