Commercial and Office Vacancy Rates
Soderquist Appraisals (www.soderquist.ca) has put out their most recent survey on the commercial and office vacancy rates in Red Deer. These have built on previous reports conducted in 2012 and 2013. For commercial, the resulting vacancy rate has increased 0.98% year-over-year to the current rate of 5.06%. This is based on: Enclosed Malls; Strip Malls; and Power Centres. For office, the vacancy rate has decreased 1.82% year-over-year to 10.22%. This is based on: Class 1, Class 2, Class 3, and Class 4 office space.
Below is a summary of the report:
Commercial
| 2014 | 2013 | 2012 | |||
| Total Area (sf) | Vacant Area (sf) | Vacancy Rate (%) | Vacancy Rate (%) | Vacancy Rate (%) | |
| 1,053,611 | 87,602 | 8.31% | 8.42% | 5.56% | |
| Strip Malls | 2,275,721 | 114,713 | 5.04% | 3.52% | 4.16% |
| Power Centres | 926,240 | 13,188 | 1.42% | 0.49% | 0.62% |
| Total: | 4,255,572 | 215,503 | 5.06% | 4.08% | 3.73% |
Office
| 2014 | 2013 | |||
| Total Area (sf) | Vacant Area (sf) | Vacancy Rate (%) | Vacancy Rate (%) | |
| Class 1 | 964,205 | 92,946 | 9.64% | 13.40% |
| Class 2 | 739,092 | 98,526 | 13.33% | 12.90% |
| Class 3 | 234,891 | 12,296 | 5.23% | 6.55% |
| Class 4 | 55,014 | 0 | 0.00% | 0.00% |
| Total: | 1,993,202 | 203,768 | 10.22% | 12.04% |