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Low vacancy rates driving expansion of Saskatoon office space inventory

A Class-A office vacancy rate of less than 1 percent is driving developers to continue expanding the inventory in downtown Saskatoon.

Discovery Plaza is Saskatoon’s latest Class-A project. Completed in 2009 it brought more than 50,000 square feet to the market, all of which was quickly scooped up by BHP Billiton.

The redevelopment of the Capitol 4 site on First Avenue North is currently underway and will bring an additional 31,000 square feet in a building that will be known as the Capitol Centre.

More recently, Pillar Properties Corp. has just released plans for a four-storey office building at 141 Pacific Avenue. Construction will depend on some successful pre-leasing efforts. If sufficient interest exists the new building would bring another 50,000 square feet of Class-A office space to Saskatoon’s downtown core.

I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.

Norm Fisher
Royal LePage Saskatoon Real Estate