The Star Phoenix June 7, 2013 - A rise in vacancies in Saskatoon office space over the past year can be attributed to an increase in available space within the downtown core, according to a report from ICR Commercial Real Estate.
Vacancy increased to 5.91 per cent as of June 2013, from 4.74 per cent in June 2012.
Available Class A space downtown has increased, but suburban vacancy decreased to 6.66 per cent.
Industrial vacancy has remained stable, decreasing slightly to 7.32 per cent from 7.42 per cent. Although absorption remains positive, demand for industrial condominiums has slightly cooled - only 30 per cent of the available inventory has been sold or leased, leaving approximately 150,000 square feet of industrial condominiums still available for sale or lease in the Marquis sector.
Industrial land continues to be in high demand, with no land available for purchase. Retail vacancy has also stayed low, at 2.19 per cent. It was slightly lower last year, at 1.93 per cent.