Business & Development
Moose Jaw Office Market For the first time in decades, Moose Jaw has a significant inventory of premium office space available. The stunning restoration of historic Ross School located at 350 Oak Street has added 34,416 square feet of prime office space for lease (pictured).
Moose Jaw Commercial In Moose Jaw commercial lease rates are more affordable. Vacancy rates are a good indication of slowing commercial/industrial market and expect both price reductions and incentives to attract tenants.
Thatcher Drive is a major traffic thoroughfare serving a growing commercial district and home to several large multi-nationals and box-stores, such as Walmart, Superstore, Staples, Peavey Mart, and Mark’s Work Warehouse. Commercial developments include Harvard Developments’ “Thatcher Crossing” and Century West’s strip mall. The former Sobey’s grocery store (6,000 square feet) is the site of the new Rona Store, creating almost 70 new jobs.
Main Street Construction of the $27 million Civic Centre Plaza is completing phase 2 adding 70,000 square feet of leased space to inventory. A new Sobey’s liquor store has opened and anchors Phase 2 development. The Town ’N’ Country Mall has been purchased by the StrathAllen property development company of Toronto. Its intention is to bring the property back to life.
Like Regina, Moose Jaw will feel upward influence on commercial vacancy rates until the provincial economy improves. The table below compares Moose Jaw commercial economic indicators with seven (of 12) other secondary markets in the province:
MOOSE JAW COMMERCIAL RETAIL LEASE RATES Commercial lease rates vary considerably based on the property’s location, age and size of the space. Lease rates for new properties located along the busier streets (i.e. Main Street, Thatcher Drive) are in the $18-27 net lease per square foot range. Older down town office space will be in the range of $8-$12 per square foot. The downtown area has enjoyed more than a decade of low vacancy rates especially along Main Street. Storefront retail lease rates ranging from $10 to $18 per square foot triple net.