View Single Post
  #56  
Old Posted Sep 16, 2011, 11:52 PM
Nathan's Avatar
Nathan Nathan is offline
Hmm....
 
Join Date: Mar 2007
Location: Regina
Posts: 3,505
Quote:
Originally Posted by PoscStudent View Post
St. John's vacancy rate is 3.84%, by far the lowest rate in Atlantic Canada. Since last year our class A vacancy rate has been at 0%, I bet no other city has a lower rate then that.

https://www.turnerdrake.com/survey/attachments/102.pdf
Well considering you can't have negative vacancy rates...

And it's not healthy for a market to have a rate that low anyway, so it's not something that should be striven for.

http://www.avisonyoung.com/library/p...ter.Spring.pdf

Regina has a Class A vacancy rate for its competitive office market of 0.86% (not healthy), and an overall rate of 1.8% in the competitive office market. If you include the non-competitive market (company owned buildings, Government occupied, long-term leases), the overall rate drops down to 1.01% out of about 6.3 million sq ft of office space.

This is why there is a tower currently under construction, one in the final planning/proposal stages, another one or two rumoured to be in the works, and a shorter building downtown currently in the prepping stages to provide some Class B spaces for smaller companies.

With all of these developments, the market might finally approach a vacancy rate that's healthy... but who knows, with the way the economy is, it's anyone's guess as to how quickly it will be absorbed.
Reply With Quote