Regina’s office sector has shown resilience while experiencing post-COVID effects that have continued to cool market activity. The combination of hybrid and return to work office policies have brought some people back to the office but has done little to increase demand for new or expansion space.
- Vacancy rates have hovered around 17.9% for much of the year, the Suburban market has increased from 16.9% in Q2 to 19.2% in Q4.
- There’s a growing sense of optimism in Regina, with a strong economy, increasing investments to provincial sectors, and the city that includes infrastructure projects and The Regina Revitalization Initiative.
- For landlords the question is, what effect if any, will the economic spillover of these projects have on office space demand by attracting new activity to the market or expanding tenants?