'It’s just very exciting': Vacancy rates for Lethbridge office and business spaces trending in right direction
Offices in Lethbridge, sitting vacant for years thanks to the pandemic and a sputtering economy, are starting to fill up.
A new report finds more leases being renewed with longer commitments, which is leading to a busier downtown.
Cookie Crimes Ice Creamery says opening downtown at the end of May has been fantastic for the company's bottom line.
"We've developed relationships with other businesses here on Sixth Street," said Cookie Crimes owner Diana Walburger.
"This is the best street for businesses, that's everyone’s opinion, so we're just happy to be part of a great community."
It appears more business want to be part of that community.
A new report from Avison Young says the office vacancy rate is under 14 per cent across the city and tenants are signing longer term commitments, especially in newer buildings.
A new report from Avison Young says the office vacancy rate is under 14 per cent across the city and tenants are signing longer term commitments, especially in newer buildings.
“Moving forward, highly differentiated, and best-in-class properties are seeing the most demand - a trend that we think will continue," said Shane Garner, of Avison Young in Lethbridge.
"Amenities have an increased importance to office users as company’s source out space to lease that offers more for their employees,”
Vacancy is higher downtown than in the suburbs, sitting at 17 per cent compared to 9.56 per cent, but new businesses are still popping up
"In the last couple of months we have seen almost nine or 10 businesses opening up, so we're seeing more people opening up and staying in the downtown than we're seeing people leaving," said Sarah Amies, community director for Downtown Lethbridge BRZ.
"I think it's a huge improvement over the last couple of years where things seemed to be looking fairly grim for the downtown."
Meanwhile, Walburger said she's looking forward to getting more neighbours, which includes Blanco, a new tequila and tacos cantina opening up just a few doors down.
"It's just very exciting and I wish everybody all the success," she said.
To learn more on the vacancy rates in Lethbridge, you can view the full Avison Young ‘Lethbridge Market Insights Report’ on their website.
CTVNews.ca Top Stories
Young people 'tortured' if stolen vehicle operations fail, Montreal police tell MPs
One day after a Montreal police officer fired gunshots at a suspect in a stolen vehicle, senior officers were telling parliamentarians that organized crime groups are recruiting people as young as 15 in the city to steal cars so that they can be shipped overseas.
Mandisa, Grammy award-winning 'American Idol' alum, dead at 47
Soulful gospel artist Mandisa, a Grammy-winning singer who got her start as a contestant on 'American Idol' in 2006, has died, according to a statement on her verified social media. She was 47.
Man sets self on fire outside New York court where Trump trial underway
A man set himself on fire on Friday outside the New York courthouse where Donald Trump's historic hush-money trial was taking place as jury selection wrapped up, but officials said he did not appear to have been targeting Trump.
Sask. father found guilty of withholding daughter to prevent her from getting COVID-19 vaccine
Michael Gordon Jackson, a Saskatchewan man accused of abducting his daughter to prevent her from getting a COVID-19 vaccine, has been found guilty for contravention of a custody order.
She set out to find a husband in a year. Then she matched with a guy on a dating app on the other side of the world
Scottish comedian Samantha Hannah was working on a comedy show about finding a husband when Toby Hunter came into her life. What happened next surprised them both.
Shivering for health: The myths and truths of ice baths explained
In a climate of social media-endorsed wellness rituals, plunging into cold water has promised to aid muscle recovery, enhance mental health and support immune system function. But the evidence of such benefits sits on thin ice, according to researchers.
'It could be catastrophic': Woman says natural supplement contained hidden painkiller drug
A Manitoba woman thought she found a miracle natural supplement, but said a hidden ingredient wreaked havoc on her health.
'It was joy': Trapped B.C. orca calf eats seal meat, putting rescue on hold
A rescue operation for an orca calf trapped in a remote tidal lagoon off Vancouver Island has been put on hold after it started eating seal meat thrown in the water for what is believed to be the first time.
Manitoba mom praises quick-thinking fire department for freeing daughter stuck in playground equipment
A Manitoba mother is praising firefighters for their quick work in helping her daughter who got stuck at a playground in Lorette, Man.