The Regina retail market has held its own over the last year. While local retailers have dealt with the struggles of health restrictions and their ever-changing landscape, there has also been growth in retail niches across the city.
- Vacancy has dropped by more than 100 basis points to 4.4%. Much of this is the result of expansion by existing retailers, particularly in grocery, liquor and cannabis.
- Rental rates have decreased in almost all areas of the city, with the overall average of $16.50 per square foot, as landlords attempt to fill vacant space. The highest weighted rates, at $22.00 per square foot, are in the northwest and east submarkets. While new space is being added to the market, it is at a slow pace in order to manage construction costs and prevent inflation on asking rental rates.
