https://renx.ca/saskatchewan-office-update
This has been reported earlier on the page
Major Regina office lease buoys Saskatchewan market
Government agency commits to 100,000 square feet at Canada Life Place
Saskatchewan’s office market has received a major boost with the lease of nearly 100,000 square feet at Canada Life Place in Regina, one of the largest commercial real estate transactions in the province in years.
The deal, announced by D'Arcy Skwara, vice-president with Colliers, marks a significant moment for a market that has faced headwinds in recent years due to remote work trends and shifting tenant demands. The lease signals renewed confidence in Saskatchewan’s urban office sectors, particularly in Saskatoon and Regina.
“It’s quite a big deal for Regina,” said Skwara, who was a panelist discussing the office market at the Oct. 16 Saskatchewan Real Estate Forum in Saskatoon. “It’s almost 100,000 square feet which in that market is quite large . . . which will be good for the downtown, keep more jobs downtown. Good for everybody.”
The tenant is eHealth Saskatchewan, a Crown corporation. Colliers represented the landlord side of the transaction for property manager GWL Realty Advisors. The total space leased was 99,220 square feet in the building located at 1901 Scarth Street.
“[
COLOR="Lime"]There’s potentially more. We’re working on potentially another deal there, but we’ll know probably in the next couple of weeks,” Skwara said, noting the Regina office market has stabilized.
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“It’s going to take a while for it to recover but it’s slow progress. Starting to see some properties lease up and a little bit of growth which is great. In Saskatoon, I think it’s the same too,” he said. “A lot of tenants downsized with work from home (during COVID) but people are coming back to work and they need the space. There’s a trend that way.”