The shopping centre vacancy rate in Langford is the third highest in the Capital Regional District, according to a Colliers retail market report in 2022.
Langford has eight vacancies, according to the report, with a total square-foot vacancy of 40,738.
Saanich and Victoria topped the vacancy list with 83,698 and 25,192 square feet, respectively.
View Royal had 7,224 square feet of vacancy, while Colwood had 3,415 square feet, with a vacancy rate of just over two and three per cent.
Langford, Saanich and Victoria had the most shopping centre vacancy, with Saanich having 49.5 per cent, Langford 24.1 per cent and Victoria 14.9 per cent.
View Royal had 4.3 per cent of shopping centre vacancy and Colwood had two per cent.
According to the market report, it was a positive year for shopping centre vacancies, down 1.2 per cent from the previous year, and increased rental rates.
Colwood had significant lease transactions with Quality Foods, Acekids Daycare, and Next Level Childcare Society Inc. Quality Foods and Acekids Daycare each leased over 30,000 square feet of space.
Colwood Corners will also provide approximately 140,000 square feet of additional retail space for the market.
The Common at Royal Bay has added 80,000 square feet of commercial space.
Retail investment peaked in 2022 at $109 million, with 2021 being a record year, which peaked at $425 million. Two shopping centre sales represented $357 million of the $425 million.
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