2020 BOMA RETAIL REVIEW - BOMA Edmontonbomaedm.ca/uploaded/Retail CWEDM Brokers Forum 2020.pdf ·...

2020 BOMA

RETAIL REVIEW

John Shamey, B.Comm

Associate Partner

Retail Leasing & Sales

BOMA RETAIL THEMES

Cushman & Wakefield Edmonton | BOMA Retail Review 2020

2018 - ONSTRUCTION

2019 - ANNABIS

2020 - OVID-19

2021 - _ _ _ _ _ _ _ _

LOSURES

ONSUMER BEHAVIOR

OVENANT

URB SIDE PICK UP

CAA

AUTIOUSLY OPTIMISTIC

EWS

ECRA

EBA

ERS

ERB

RSB

RB

WHERE ARE WE AT??


VACANCY RATE


3.5%

4.0%

4.5%

5.0%

5.5%

6.0%

6.5%

7.0%

YTD2020201920182017

VACANCY RATE

Edmonton Calgary

Sub Market Vacancy Rate

Kingsway Area 1.4%

Southwest 2.4%

St. Albert 5.5%

Sherwood Park 6.1%

Government District 6.6%

Financial District 8.9%

Whyte Avenue 9.3%

• COVID-19 has created a

SHADOW VACANCY, where the

figures are unknown

SUPPLY AND DEMAND


INVENTORY NET ABSORPTIONYEAR Total SF Annual Growth Annual Growth SF % of Inventory

YTD 35,096,682 470,678 0.5% (-410,616) -0.2%

2019 34,926,004 712,520 2.1% 584,719 1.7%

2018 34,213,484 956,137 2.9% 1,088,136 3.2%

2017 33,257,347 525,246 1.6% 568,179 1.7%

2016 32,732,101 231,946 0.7% 295,742 0.9%

2015 32,500,125

RETAIL SALES


WARNING:Historically JANUARY & FEBRUARY

are the slowest months in retail.

Shadow Vacancies may appear

shortly thereafter.

RETAIL CATEGORIES


Retails Sales

Year Over Year

(July)

Edmonton Alberta

Cannabis stores 141.7% 142.7%

Liquor Stores 29.2% 32.6%

Hardware Stores 15.0% 10.1%

Grocery Stores 14.9% 11.3%

General Retail 11.8% 14.8%

Health and Personal Services 2.2% 5.9%

Electronics and Appliance 1.3% 11.2%

Gas Stations -2.1% -11.5%

Motor Vehicle and Vehicle Parts -2.5% -1.1%

Furniture and Home Decor -3.0% -4.2%

Fashion -17.9% -16.5%

TRENDS


COVID-19 and emerging retail trends

• Decreasing demand for Full-Service Restaurants

• Delivery Apps

• Curb Side Pick Up

• Patio Areas

• Drive thru are more valuable then ever

• A Boom in E-Commerce

• Downsizing for most categories

LEASING ACTIVITY


EXISTING

VACANCIES

PRE-LEASE

NEW DEVELOPMENTS

LEASING

ACTIVITY

NET LEASE

RATES

LEASE

INCENTIVES

NOTABLE DEVELOPMENTS


Sunwapta Shopping Centre Ph II

~125,000 SF COSTCO BUSINESS CENTRE

By Cameron Developments

SOUTHPARK (Whyte Ave)

~25,529 SF of Retail Space

By One Properties



RABBIT HILL Phase II

~35,000 SF FRESON BROS

By Allard Developments

JAGARE RIDGE

~35,000 SF SAVE ON FOODS



ICE DISTRICT (Block B/G)

~98,000 SF of Retail Space

By One Properties

HARVEST HILLS (50 St & Ellerslie Road)

~95,000 SF SUPERSTORE




WINDERMERE SOUTH

~75,000 SF Movati (Fitness)


EMERALD HILLS (Sherwood Park)

~25,000 SF ITALIAN CENTRE SHOP


2021 –RETAIL THEME PREDICTION


2021 -

THANK YOU

John Shamey

Associate Partner

Retail Leasing & Sales

780-702-8079

[email protected]

2020 BOMA RETAIL REVIEW - BOMA Edmontonbomaedm.ca/uploaded/Retail CWEDM Brokers Forum 2020.pdf ·...

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