Regina’s industrial vacancy rate has fallen to 3.4%, marking its lowest point in almost four years, says a new Avison Young report.

The market’s industrial vacancy stood at about 3.8% in fourth quarter of 2020 but has not dipped below that point since then.

The drop in vacancy comes despite an increase in total inventory from 23.9 million square feet to 25.2 msf, indicating strong demand and healthy absorption of new space. The firm said this trend signals investor confidence and a resilient industrial market poised for continued growth.

Between 2020 and 2024, Regina’s industrial inventory grew by 5% as developers responded to tenant needs. Avison Young noted that this development wave has supported expanding businesses and contributed to the region’s economic vitality.

Avison Young also highlighted the upcoming opening of Cargill’s new canola-processing plant at the Global Transportation Hub (GTH), which is expected to further drive industrial demand. The plant, set to process one million metric tonnes of canola annually, has already prompted the sale of more than 400 acres near the hub and improvements to rail and road infrastructure.

Pictured: New Cargill canola-crushing plant located just outside Regina’s city limits.

Photo: Cargill