Regina industrial market report

Q2 2024

Availability remains desirable
At a time when the announced disincentivizing increase in the capital gains tax permeates unforeseen consequences across all asset classes, the availability of Regina’s industrial sector experienced an increase to 1.94% in Q2-2024 compared to 1.88% in Q2-2023 year-over-year.

Although a marginal bump, Regina’s availability remains desirable as companies are relocating to upgraded premises and expanding their footprints amidst rising construction costs.

Lease rates rising
Average lease rates nudged slightly to $11.67 psf in Q2-2024 from $11.51 psf in Q2-2023 due to growing demand, exacerbating limited supply.

This is prompting some tenants to reduce their square footage requirements, ultimately resulting in lower ceiling heights, as smaller square footage spaces generally have lower ceilings.

On the horizon
Looking on the horizon, elevated commodity prices continue to be driven by the increasing global demands of a growing population, which needs more food, fuel, and fertilizer.

There is strong optimism for future growth in Regina’s industrial sector due to Saskatchewan's abundance of food, fuel, and fertilizer.
1.94%

Total availability

Up from 1.88% in Q2 2023

$11.67

Average asking net rent

24.6M

Square feet of inventory available

$550K

Average in-city industrial land asking price per acre

$180

Average sale price psf

580K

Square feet under construction

Your source for the latest Regina industrial market reports

Get in-depth industrial market reports and insights from commercial real estate experts in the Regina, SK area. Avison Young advisors look at Regina commercial real estate activities and the latest Regina statistics to provide you expert market research on Regina's industrial properties.

Explore different topics like the latest industrial market pricing trends and analysis of Regina's current industrial real estate market conditions. Gain a better understanding of Regina’s industrial real estate outlook and stay ahead of current industrial space trends. Make smart decisions when it comes to investing in industrial properties in Regina's competitive industrial real estate market. Avison Young is your trusted source for commercial real estate industrial market insights in Regina.

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