In this report, we have highlighted 2019’s retail transactions as well as a few of the upcoming developments, all of which provide insight into the current state of the market and future of the neighbourhood.
2019 retail transaction recap
Historic Downtown Abbotsford’s retail real estate saw a large range in sale prices per square foot in 2019. This can be dominantly attributed to each property’s unique characteristics, especially lot size and development potential. Now that the Neighborhood Plan has been adopted there is more certainty regarding the development potential of each property and this potential can greatly impact a property’s value.
Below you can find a summary of the retail real estate transactions as well as a detailed report including their location indicated on a map by blue numbers. The green numbers on the map indicate the location of the developments described above.
2019 retail LEASE recap
Retail leasing activity in Historic Downtown Abbotsford has continued to see a steady increase in lease rates. New construction in the area will continue to push up lease rates which will impact all available real estate.
RECENT LEASE TransactionS & Listings
Below we have highlighted a selection of retail lease transactions and listings as examples of current lease rates in Abbotsford’s Historic Downtown.
Update: The below listings are examples to illustrate asking lease rates at the time of publishing, please click here to browse current listings and recent transactions in Abbotsford’s Historic Downtown.
If you have any questions or are curious about the impact of the neighbourhood plan or current market conditions on Abbotsford’s Historic Downtown, please don’t hesitate to reach out.
Sources: City of Abbotsford, Commercial Edge, Frontline Real Estate Services Ltd.