Commercial Real Estate Market Analysis Services

The Vendor is required to provide professional advice, including market analysis and mapping of the commercial real estate market and built form in the regions of the municipality.
- Through public engagement and work with the development community, the municipality has heard some common challenges facing commercial businesses today which should be considered in the development of land use policies.
- Objective
•    Support the creation of complete communities that are walkable and provide a mix of uses for residents;
•    Encourage the development of commercial spaces that are attractive and meet regional and local demand including in neighborhoods, and on commercial main streets;
•    Align commercial space policies in planning documents with the changing demand for commercial and retail spaces and functional needs of commercial tenants;
•    Encourage the development as well as the preservation of affordable commercial spaces for small businesses;
•    Help to address the current gaps and demands in agency commercial market; and
•    Use key indicators to gage the health of commercial markets in the study area.
•    Creating primarily commercial zones;
•    Requiring ground floor commercial spaces in mixed use buildings;
•    Varying the types of commercial uses permitted in different areas;
•    Built form regulations for commercial and retail uses;
•    Establishing maximum/minimum size requirements and other regulations for commercial spaces; and
•    Considering impacts or urban infill and redevelopments on affordable commercial buildings.
- Market Analysis
•    Gap analysis: analysis of existing businesses and market demand to show which sectors are over/underrepresented in the regional and local markets.
•    Cost of development: model of recent redevelopment in existing commercial areas to understand the impact on the commercial real estate market (ex. Loss of certain types of spaces, changes in the types of businesses in the area, impacts on affordability, etc.). Provide an analysis on the extent to which existing low-grade commercial properties are being redeveloped within a relevant timeframe.
•    Commercial real estate market analysis: provide an analysis on the existing supply of retail/commercial spaces, current demand for each type of space and how long different type’s retail/commercial spaces are vacant. This analysis should include forecasted supply and demand figures for each community, as well as historical analysis.
- Commercial Market Data and Mapping
•    Data points for each class of commercial property;
•    Vacant commercial spaces;
•    Heat map, tables and data sets of asking price per square foot;
•    Heat map, tables and data sets of capitalization rates;
•    Data points based on the market sector of each commercial business; and
•    Any other data that may be useful to the study.

- Contract Period/Term: 1 year
- Questions/Inquires Deadline: October 20, 2025