Regina’s office market remains a tenant’s market. In the middle of 2019, Regina has seen a decrease in the vacancy rate due to some natural fluctuation in the market. The lingering economy has continued to ensure that there are few new users to absorb the excess space that hit the market in preceding years.
- New development has been muted with the exception of the Conexus Credit Union building which will fully owner-occupied.
- Other future developments will likely lay dormant until pre-leasing is substantially complete.
- Over the next two years Colliers expects a significant amount of new vacant space to hit the market.