Kamloops' commercial real estate market is red hot

By James Peters
January 6, 2016 - 4:21pm Updated: January 7, 2016 - 10:19am

KAMLOOPS — A new report on the Kamloops commercial real estate market shows our city is bucking the stagnant economic trends being seen across the country.

According to Colliers International, vacancy rates for both industrial and office spaces were down significantly at the end of the 2015, compared to same time in 2014.

The industrial vacancy rate is now only 4.1 per cent, down from 5.2 per cent the year before.

And only 5 per cent of Kamloops office space remains empty - down from 6.3 per cent in 2014.

The vacancy rate in retail space took a big jump year-over-year - from 5.7 per cent to 7.6 per cent.

But Colliers International's Katie Martin says that is solely due to two Sahali stores packing up and leaving: Target and XS Cargo.

Martin says if the former Target space in Sahali Centre Mall had been leased, the vacancy rate would be trending downward as well.

Martin adds low vacancy rates indicate a lot of businesses are happy in Kamloops, and investors are very positive about the prospects the city presents.

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