The Regina industrial market is heating up. Warehousing and distribution are key sectors that have profited despite the pandemic. Increases in online shopping have also increased trade activity. With Regina’s ample land inventory and a positive first quarter in provincial goods exports, growing industrial parks have many opportunities to thrive in the coming year.
- Vacancy has dropped just over 1% from Q1 2020 to 4.2%, showing high demand for industrial space. Regina land inventory is primed to supply additional space.
- A major caveat is the demand for construction materials that hasn’t been matched by supply chains recently. An increase in residential renovations has created a shortage in materials, the costs for such materials has climbed due to demand and has delayed some commercial developments.
- One of the major transactions of the first quarter is a sale at the Translink Logistics Centre to Avena Foods at the Global Transportation Hub.