Regina’s industrial sector continues to benefit from high demand, sustained by strong economic indicators, reaching a new record-low vacancy rate of 1.5%. The demand for space continues to put pressure on supply with no indication this will change.
- While rental rates have increased year-over-year, they’ve also decreased from $11.70 last quarter due to the quality of available product. Landlords with current vacancies look to entice new tenants with lower asking rates for the quality of product on the market. We expect rates to remain in the $10 to $11 range while inventory remains constrained.
