Retail vacancy declined by 40 basis points in the second half of 2011 to reach 2.3 per cent, according to brokerage firm Cushman & Wakefield Ottawa.
The company reported a drop in neighbourhood mall vacancy – retail properties between 10,000 to 110,000 square feet – led the charge, declining by 90 basis points to 4.8 per cent.
The largest drop in vacancy came from the Bell’s Corners submarket, where 20,000 square feet of space came off the market. This caused a substantial change in vacancy due to the submarket’s small inventory size.
(Sponsored)
Family-owned Coke Canada Bottling investing to grow in Ottawa-Gatineau
Have you ever wondered where your favourite Coca-Cola products come from? Few people in know that over 300 popular beverages products, like Coca-Cola, Coke Zero, Fuze, Fanta, Monster Energy, A&W
Family-owned Coke Canada Bottling investing to grow in Ottawa-Gatineau
Have you ever wondered where your favourite Coca-Cola products come from? Few people in know that over 300 popular beverages products, like Coca-Cola, Coke Zero, Fuze, Fanta, Monster Energy, A&W
Close behind was core office tower vacancy at four per cent, a 0.8 percentage point decline.
Vacancy in regional malls and large power centres declined by 0.1 percentage points, reaching 0.6 per cent. Community malls and smaller power centres remained unchanged through 2011 at 2.4 per cent.
