As of 2022, we have redefined the Saskatoon industrial submarkets to refine our reporting and provide specific data on the industrial areas relevant to our market.
- The Saskatoon industrial market continues to perform well for investors and landlords with the vacancy rate declining from 2.7% in Q4 2021 to 2.5% this quarter.
- Asking net rent has increased 14.2% on a year-over-year comparison.
- Flex space, or those spaces with an emphasis on office or retail and a smaller warehouse component with low clear height, are staying on the market longer than those better suited for tenants requiring warehousing and distribution space.