Regina’s industrial sector remains constricted in terms of balancing supply and demand challenges. Low vacancy has been intensified by minimal construction activity due to high construction costs and shipping delays.
- Vacancy rates are sitting at 1.7% in Regina and the surrounding area, a slight cushion from last quarter, but not nearly enough to satisfy the market conditions.
- We can anticipate the current theme of ‘build it and they will come’ will continue into next year while we wait for economic factors to normalize. There is ample opportunity for growth in the industrial market if and when developers are prepared to face the obstacles around construction, inflation and interest rates.