Five hottest Saskatchewan and Manitoba news stories of 2016

Western Investor's most-read stories, from retail vacancies to retail makeovers

By
Western Investor
December 20, 2016





In July, we reported that Winnipeg's St. Vital Centre had half a dozen empty retail spaces.
Tuxedo Park Shopping Centre was slated for a $4 million makeover, in order to entice tenants to remain at the strip mall.
A new addition to Preston Crossing was well-received in Saskatoon.
Three new Save-on-Foods opened in Winnipeg this fall.

This year, the retail sector appeared to be the primary area of interest for Western Investor readers looking for news on the Saskatchewan and Manitoba commercial real estate markets. The oil recession affected the two Prairie provinces’ markets as it did Alberta, but consumer support and some new additions to the retail arena bolstered market conversation.

Here is our first annual countdown of our five most-read Saskatchewan and Manitoba stories in 2016.

 

5. Winnipeg retail vacancies soar


A series of store closures in Winnipeg caused the city’s retail vacancy rate to rise to its highest level since the early 2000s, Western Investor contributor Geoff Kirbyson reported in July. Despite glaring vacancies at Winnipeg’s second biggest mall, there were two large retail developments underway in the city at press time.

4. Tuxedo Park Shopping Centre getting a $4M makeover


A high vacancy rate didn’t stop owners of a Winnipeg shopping mall from scheduling a full-scale makeover. Landlords are preemptively avoiding a potential loss of tenants but upgrading existing spaces as vacancies rates in the city expected to grow.

3. Saskatoon shoppers defy a downturn


In contrast to Winnipeg, this article out of Saskatoon reported a boom in Saskatoon’s retail sector. A new addition to a shopping centre in the city was 97 per cent leased when the article was published and the market was doing well as compared to office and industrial sectors.

2. Saskatoon's Scotiabank office tower draws multiple bids


In November, the Scotiabank building sold for $18 million after being on the market just three weeks. Investor interest from across the country showed readers that Saskatoon’s real estate market is on solid ground.

1. Save-On-Foods to open trio of Winnipeg stores


Manitoba takes the top story in our duel-province category with the opening of another supermarket chain. This fall, three Save-on-Foods stores opened in the city, giving Winnipeg consumers a new choice in grocery shopping.


Tanya is a recent graduate of Langara College's journalism program and spent a summer freelancing for The Burnaby NOW and The Record, following a reporting internship with the publications. She joins Western Investor as an editorial assistant. Very much a millennial, she sees the irony in writing about real estate she will likely never be able to afford.
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