03-05-2024, 04:45 PM
(03-05-2024, 01:30 PM)SF22 Wrote: A Guardian compounding pharmacy has moved into one of the commercial spaces in the DTK tower (not sure if it's open yet). Is it normal for commercial spaces to stay empty for an extended period of time after a building opens? I noticed that the commercial space in Civic 66 at Weber/Scott is still advertising their commercial space on realtor.ca as well.
It usually isn't normal, but we have a big problem with office and retail vacancy downtown. The cost of leasing is one major issue, but also just the dirty, grimy vibe that still exists down there. It isn't entirely desirable - yet. Just take a look at the dollar store that deals with endless, daily theft or the Tim Hortons which basically functions as homeless shelter. For business owners, that's a major annoyance to deal with. Many have told me when discussing buildings and development that that is one major thing that makes them think twice about leasing things down there in addition to often very high costs.