Friendly faces at school
Our series on inspirational Saanich teens introduces a 16-year-old keen on building friendships Page A3
NEWS: Tax agency cuts lead to spike in local aid demand /A5 SPORTS: Spectrum grad named best university athlete in B.C. /A18
SAANICHNEWS Wednesday, March 19, 2014
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Don Denton/News staff
Retail leasing at Uptown gains little ground News staff
Despite high-profile new tenants like the Greater Victoria Public Library, plus another big retail opening to be announced in the spring, leasing numbers at Uptown have gained little ground in the past year. Leasing numbers at the Saanich complex indicate that growth has been minimal since February 2013, especially on the retail front. Currently Uptown sits at approximately 75 per cent capacity, with 83 to 85 per cent of retail space leased out and 53 to 55 per cent of office space occupied. These
that space. There’s appetite and discussions numbers are only up slightly from last year, underway. We’re working with them to help when retail space was at 82 per cent and office secure replacement tenants.” space was at 40 per cent. Nagle said an announcement for another “That means about 120,000 square feet of 30,000 square feet of retail space on the space (left) to fill up in office. The good news is upper level will be made in the coming deals are offering and there seems to be improvmonths. ing demand from the medical and equipment “The deal’s done, the tenant just has to fit side,” said Geoff Nagle, Morguard Investment’s out their space,” Nagle said. director of development for Western Canada. He said Uptown’s leasing rates are compet“We’re doing more than our fair share of deals. We’re working our way through the existing itive, and what they can offer to businesses office space.” – LEED gold buildings in a prime location – is Unleased space doesn’t include the 38,000 Geoff Nagle desirable, but the demand just isn’t there. square feet left vacant when Best Buy, atop the Plans for a Phase 3 of Uptown development Blanshard Street level, closed its doors. on the land adjacent to Ravine Way, originally planned as “There is still a lease in place (there),” Nagle said. two residential towers, are still in the works. “They are actively in discussions with tenants to fill reporter@saanichnews.com
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While tomorrow may be the official start of spring, Saanich residents were treated to spring-like weather for much of winter. Flowers and trees, like these along a path next to the Cedar Hill Golf Course near Queensbury Avenue, have been budding and blooming for weeks.
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The signs of spring
25% of Saanich centre’s office and retail space remains vacant
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