COMMERCIAL SPACE INVENTORY REPORT

Transcription

1 COMMERCIAL SPACE INVENTORY REPORT 2016 Planning and Development Department. City of Mount Pearl. 3 Centennial Street Mount Pearl, NL A1N 1G4, (709) Photograph Courtesy of Reddy Kilowatt Credit Union Limited A Strong Sense of Home

2 Table of Contents Executive Summary... 1 Introduction... 2 Commercial Areas ) Commonwealth Avenue ) Glenhill Area ) Pearlgate Area ) Topsail Road ) Kenmount & Beclin Business Parks ) Donovans Business Park ) Other... 4 Descriptions of Commercial Uses... 5 Office... 5 Retail... 5 Warehouse... 5 Commercial Space... 6 Total Commercial Gross Floor Area... 6 Total Commercial Structures Vacant Space Home Based Businesses (HBBs) Conclusion Appendix A Maps Appendix B - Examples of Commercial Uses Appendix C - Top Five Buildings by Gross Floor Area (2016) Appendix D - Vacant Space (2016)

3 Executive Summary The 2016 Commercial Space Inventory Report (CSIR) is a snapshot of commercial activity in the City of Mount Pearl for one year; however trends are analyzed over a five-year period. In order to amend inconsistencies in previous years data, the 2016 CSIR marks the first year in which data and trends are based on a five year gap rather than each consecutive year in the five year period (i.e only). The anticipated outcome is that the 2016 report will provide an accurate and up to date database to function as a base for years to come. The following is a summary of information as outlined in the Report: The total commercial gross floor area (GFA) of the City of Mount Pearl increased from 740,058.80m 2 to m 2 (9% increase) from This 9% increase is mainly the result of new building construction in Kenmount / Beclin Business Parks, as well as new construction, or renovations to existing buildings, on Topsail Road. In terms of GFA, Donovans Business Park remains the centre of commercial activity in the City. The Commercial Gross Floor Area Map (see Appendix A) illustrates the massing of commercial GFA throughout the City. Total commercial GFA is further broken down by main use, which is used to illustrate the percent increase in office, retail, and warehouse uses over a five year period ( ). On the whole, the breakdown of commercial uses for the City for 2016 is: 21 % office, 24 % retail and 55% warehouse uses. The largest percentage increase in gross floor area over the past five years was in the warehouse use sector (increase by 13%) and the office use sector (increase by 10%). The retail use sector increased by 2% over five years. Total number of commercial structures increased from 494 to 515, which marks a 4% increase from The City has a low-rise commercial urban form with the majority (85%) of commercial structures having one floor; none exceed three floors. The office/retail vacancy (leasable space) rate for the City is 7%. The warehouse vacancy (leasable space) rate for the City is 17%. Donovans Business Park contains the bulk of vacant (leasable) warehouse space with 37992m 2. The total vacancy (leasable space) rate within the City is 13%, which constitutes an increase of 10% over the five year period. The past five years mark an incline (net gain of 14) in home based businesses (HBBs). The total assessed value of HBBs for 2016 is $2,728,486, compared to 1,088,741 in In summary, while the last five years marked a very positive trend in commercial growth within the City of Mount Pearl, the accompanying increase in vacancy rate over the last five years may be interpreted as a reflection of the current economic downturn. 1

4 Introduction The Commercial Space Inventory Report (CSIR) was first conducted in Since 2006, the Report has been updated annually to monitor and assess commercial activity in the City of Mount Pearl. The CSIR is a snapshot focusing on one year of commercial growth. Commercial activity is measured in terms of gross floor area (GFA), vacancy (leasable space) rates, and active home based businesses (HBBs). The 2016 report constitutes a 5 year review; comparing commercial trends from The CSIR divides the City into seven commercial areas; they are comparable in terms of GFA and represent distinct geographic areas. (Areas are further discussed in the Commercial Areas section.) The CSIR breaks down commercial activities into three commercial use classes: office, retail, and warehouse (Commercial use classes are further discussed in the Description of Commercial Uses section.) The City follows the Mount Pearl Development Regulations 2010, which state that a home based business can operate from a residential building within a residential zone, as long as the commercial activity is subsidiary to the residential use of the structure, and subject to meeting a number of conditions. Home based businesses are inherently low in GFA. Assessing HBBs using floor space measures would devalue these private ventures in the overall commercial context of the City. Home based businesses are thus assessed using commercial account information. This allows the City to monitor the net change in HBBs from year to year. 2

5 Commercial Areas The CSIR divides the City of Mount Pearl into seven commercial areas: 1) Commonwealth Ave 2) Glenhill Area 3) Pearlgate Area 4) Topsail Rd. 5) Kenmount & Beclin Business Parks 6) Donovans Business Park 7) Other Areas are delineated based on zoning, physical geographic boundaries, and distribution of GFA (see Appendix A, Commercial Areas Location Map). Each area is colour coded for consistency in maps and figures. 1) Commonwealth Avenue Commonwealth Avenue extends from Topsail Road southwards and ends at the municipal boundary near Pitt s Memorial Drive. Zoning for Commonwealth Avenue includes Commercial-General (CG), City Centre (CC), Commercial-General (Special) (CG-S) and Commercial Mixed (CM). 2) Glenhill Area Glenhill starts at the Glenhill Plaza on Old Placentia Rd., extends south to include the commercial properties as far as the municipal boundary along Pitt s Memorial Drive, and extends west to include the commercial properties on Cunard Pl. There is a mix of zoning in this area, including Commercial-General (CG), Commercial-General (Special) (CG-S) and Commercial-Regional (CR). 3) Pearlgate Area The Pearlgate Area starts from the corner of Richard Nolan Dr. and Old Placentia Rd., extends south to the City s boundary, and west to the Smallwood Dr. and Old Placentia Rd. intersection. This area contains big-box stores and retail warehouses. It is zoned as Shopping Centre (SC) and General Commercial (GC). 4) Topsail Road The Topsail Rd area begins at the eastern City boundary on Topsail Rd and extends west to the overpass at Kenmount Rd. It is zoned as Commercial - Mixed (CM), which allows for both light industrial and commercial uses. There are also Commercial-General (CG), Commercial Regional (CR) and Commercial- Highway (CH) zones along the corridor. Residential development was once permitted along Topsail Rd and some houses remain. However, the number of residential uses is decreasing as the properties become converted or redeveloped for commercial purposes. 5) Kenmount & Beclin Business Parks The Kenmount & Beclin Business Park area is located at the western end of Topsail Rd. The triangular shaped region is bounded by Kenmount Road to the north, the Anglican Cemetery and Moffatt Road 3

6 Subdivision to the east and to the north (rear) of properties fronting Topsail Road. The area is zoned as Industrial-Light (IL). 6) Donovans Business Park Donovans Business Park is located on the western edge of the City between Powers Pond residential area and the Trans-Canada Highway. The area is zoned as Industrial-Light (IL). 7) Other There are scattered areas of commercial activity around Mount Pearl that do not fall within the eight distinct commercial areas. These areas can be found, for instance, on Park Ave, Richard Nolan Drive and Wyatt Blvd / Kenmount Road. They are predominantly single businesses found in residential areas, or commercial properties abounding Kenmount Road. 4

7 Descriptions of Commercial Uses The following section describes the three main commercial use classes: office, retail, and warehouse. See Appendix B (pg.20), Examples of Commercial Uses for a more detailed overview of specific commercial activities. Office Office space refers to structures where clerical, administrative, or professional activities occur. It includes space used for general business purposes, medical and professional offices, banks, and administrative areas related to warehousing and retail operations. Much of the office spaces in the City of Mount Pearl are subsidiary to a warehouse or retail use that is predominant within the building. Most institutional uses are also included in this category. Retail Retail space includes traditional retail activities (e.g. department, grocery, and convenience stores) as well as automotive and industrial showrooms as well as commercial schools. Generally speaking, retail spaces are accessible to the public and display consumer products and/or services. Warehouse Warehouse activities range from simple storage to light manufacturing. This commercial use class includes such things as storage, workshop, cold storage, and industrial light manufacturing. 5

8 Commercial Space The City of Mount Pearl currently has 515 commercial structures with a total GFA of m 2. This represents an increase of 21 structures and 64,216.48m 2 GFA since An increase in GFA results from construction of new buildings, additions, or conversions from previous non-commercial uses. Total Commercial Gross Floor Area Figure 1 illustrates the distribution of total commercial GFA by area. Donovans Business Park remains the centre of commercial activity making up almost half (47%) of the total commercial GFA for the City. The Glenhill region contains the least amount of GFA making up only 3% of the City s total. 100% Figure 1: Distribution of Total Commercial GFA by Region (2016) 47% Donovans Business Park Topsail Rd. Other 19% Kenmount & Beclin Business Parks Pearlgate Area Commonwealth Ave. 10% Glenhill Area 8% 7% 0% 5% 3%

9 Table 1 Shows the total commercial GFA by area and the percent change from , confirming a 9% overall increase in total commercial GFA over the past 5 years. The Pearlgate Area is the only area not to experience growth in the five year period, although it did not decrease in GFA. The Kenmount & Beclin Business Park area experienced the highest increase in GFA in the five year period gaining a total of 38422m 2. Please refer to Appendix A(pg. 18), Commercial Gross Floor Area Location Map for a representation of GFA by commercial parcel. Please note that GFA density is overrepresented in some areas, because the structures total GFA is the same as the parcel area. The map illustrates the high GFA density in areas such as Donovans Business Park; Beclin Business Park; Pearlgate Area and Glenhill Areas; and the east end of Topsail Rd. (e.g. Mount Pearl Square). Table 1 Total Commercial GFA Percentage Change over Five Year ( ) Percent Change of Commercial GFA by area ( ) Commercial Area 2011 GFA 2016 GFA % Change from Commonwealth Ave % Glenhill Area % Pearlgate Area % Topsail Rd % Kenmount & Beclin Business Parks % Donovans Business Park % Other % Total % Figure 2 breaks down total commercial GFA by use, and shows the percent increase in GFA over the last five years within the office, retail, and warehouse sectors. As illustrated in the graph, warehouse and office uses have experienced the greatest increase over the last five years. 7

10 Figure 2: Percent increase in Commercial GFA Over Five Year Period ( ) Office Retail Warehouse % Gross Floor Area (m 2 ) % 10% Figure 3 Illustrates the overall breakdown of commercial uses within the City. As shown in the chart below, warehouse activities make up the bulk of commercial GFA constituting 55% of the total GFA in the City. Figure 3: Percent Breakdown of Main Use 55% 21% 24% Office Retail Warehouse 8

11 Figure 4 breaks down commercial GFA by area and use. Donovans Business Park makes up the bulk (85%) of warehouse activities in the City. Topsail Rd represents a diverse commercial area with a roughly equal proportion of office (26%), retail (36%), and warehouse (38%) uses. Commonwealth Ave., Topsail Rd., and Other, make up the majority of office uses in the City. With the exception of Kenmount & Beclin Business Park and Donovans Business Park, retail activities are prominent in each commercial area. Figure 4: Commercial GFA Broken Down by Area & Use Figure 4: Commercial GFA Broken Down by Area & Use continued on page 10 9

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13 Total Commercial Structures There are approximately 515 commercial structures in the City of Mount Pearl (see Figure 5). This marks an 4% increase from Note that a commercial structure need not contain 100% commercial uses. For example, a structure with retail shops on the ground floor with condominiums above constitutes a commercial structure. For ease of analysis and presentation of data, a structure with any commercial activity, aside from HBBs, is classified as commercial. Total Commercial Structures Figure 5: Increase in Total Commercial Structures The City has a low-rise commercial urban form. The total number of floors within a structure can include a mezzanine floor, but does not include basement or below ground space. The majority (84%) of commercial structures are one floor (see Figure 6). There are only 17 commercial structures with three floors; none exceed three floors. Please refer to Appendix C (pg. 21), Top Five Buildings by Gross Floor Area (2016), Tables 1 to 9, for detailed structure statistics. Figure 6: Structures Broken Down by Number of Floors One Floor Two Floors Three Floors 1% 15% 84% 11

14 Vacant Space Vacancy (leasable space) rates are calculated from the total leasable GFA for each commercial area. Note that the commercial lease market is extremely dynamic; therefore vacancy rates will likely have changed substantially since the release of this report. The office/retail vacancy rate for the entire City of Mount Pearl is 7%. Figure 7 and the accompanying table; illustrate the vacant retail and office space rates for each commercial area within the City. The Commonwealth Ave area has the highest office /retail vacancy rate in percentage of the overall commercial area with 16% (6,248.02m 2 ). The Topsail Rd region contains the highest vacancy rate in GFA with 11,844 m2 (while constituting 12% of the overall Topsail Rd area). The Kenmount & Beclin Business Parks area contains the least amount of vacant office /retail space making up only 1% of the total for the City. Table 2 Office/Retail Vacant GFA by Area for 2016 Office/Retail Vacant GFA By Area (2016) Commercial Area Commonwealth Ave Glenhill Area Pearlgate Area Topsail Rd. Kenmount & Beclin Business Parks Donovans Business Park Other Vacant GFA in m2 6, m m2 919 m2 11,844 m m m m2 12

15 Figure 7: Percentage of Vacant Office/Retail Space by Area (2016) 4% Commonwealth Ave. 6% 16% Glenhill Area Pearlgate Area 1% Topsail Rd. Kenmount & Beclin Business Parks Donovans Business Park 12% 2% 2% Other The warehouse vacancy rate for the City is 17%. Figure 8 and the accompanying table; illustrate the vacant (leasable) warehouse space for each commercial area within the City. The Donovans area has the highest warehouse vacancy (leasable) rate according to GFA in the City with m 2 (constituting 12%). Please note that although the Donovans area makes up only 12% of the chart total this breakdown is calculated from the total warehouse GFA for the area. Although Donovans 12% is less than Kenmount/Beclin s 45%, Donovans has a much larger warehouse GFA and therefore its total percentage is less. For example, Donovans total warehouse GFA is m2, the total vacant (leasable) warehouse space is 37991m2, which equals 12% of the total GFA, whereas the total warehouse GFA for Kenmount & Beclin Business Parks is 57233m2, the total vacant space is 25588m2, which equals 45% of the smaller GFA total. The Glenhill and Pearlgate Areas contain no vacant warehouse space. Please refer to Appendix D (pg. 24), Vacancy Rates (2012), Tables 7 and 8, for specific vacant space GFA breakdown. 13

16 Table 3 Warehouse Vacant GFA by Area for 2016 Warehouse Vacant GFA By Area (2016) Commercial Area Commonwealth Ave Glenhill Area Pearlgate Area Topsail Rd. Kenmount & Beclin Business Parks Donovans Business Park Other Vacant GFA in m m2 0 m2 0 m m m m m2 Figure 8: Percentage of Vacant Warehouse Space by Area (2016) 30% 12% 0% Commonwealth Ave. Glenhill Area 19% Pearlgate Area Topsail Rd. 12% Kenmount & Beclin Business Parks Donovans Business Park 45% Other 14

17 Over the past five years the vacancy rate within the city has increased significantly. Figure 9 illustrates the percent increase in office/retail and warehouse vacancies for the last five years. Warehouse use has seen the greatest increase in vacancy going from 3% in 2011 to 17% in 2016 for an overall increase of 14%. Office/retail use has seen a less drastic increase going from 2% to 7% over the last five years for an overall increase of 5%. Figure 9: Percent Change in Vacancy Rate by Use ( ) Office/Retail Vacancy Rate Warehouse Vacancy Rate Percent Vacancy Rate 18% 16% 14% 12% 10% 8% 6% 4% 3% 17% 7% 2% 0% 2% Years 15

18 Home Based Businesses (HBBs) The City of Mount Pearl currently has 119 registered HBBs that cover a wide range of office and retail ventures. The increase represents a net gain of 14 since the 2011 CSIR (see Figure 10). HBBs continue to be an integral part of commercial activity in the City. The total assessed value of HBBs for 2016 is $2,728,486, compared to 1,088,741$ assessed value in Figure 10: Net Change in Home Based Businesses ( ) Total Home Based Businesses 16

19 Conclusion Though commercial Greenfield development remains popular in the City of Mount Pearl, as evident by the 9% increase in commercial GFA being the result of new building construction in the Kenmount / Beclin Business Parks, growth was also evident in the remaining areas (e.g. Topsail Rd.). Additional Greenfield sites will become available in the Kenmount Hill area above the 190 metre contour as the rezoning process continues, however, as other Greenfield development potential plateaus as displayed by Donovans Business Park and Glenhill and Pearlgate Areas the City will increasingly have to consider infill, intensification, redevelopment, mixed use, and Brownfield development options. Small-scale commercial development can be accommodated in the Commonwealth Ave area; however, growth potential is limited due to existing residential development and geographic zoning constraints. The City has a low-rise commercial urban form. Low density forms of commercial development do not represent the optimal use of commercial land. This is particularly of concern as Greenfield sites are becoming increasingly scarce. The City will have to explore ways in which dense forms of commercial development (e.g. mixed use high rise buildings) can be attracted to the municipality. Mixed-use forms of growth have the potential to increase the quality of life for residents in the City by reducing reliance on private automobiles and encouraging active modes of transportation. Mixed-use growth may require an increased focus on urban design and the types of commercial uses to encourage high quality mixed-use neighborhoods. On the whole, vacant (leasable) space rates appear to be increasing in office/retail and warehouse uses. As highlighted in the Economic Development, Tourism and Communications Strategy ( ), Commonwealth Ave. and Centennial Square offer much growth potential for urban intensification. All of the above necessitates a strategy to continue to retain and attract high quality businesses in the area. 17

20 Appendix A Maps 18

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22 Appendix B - Examples of Commercial Uses Office Uses Retail Uses Retail Uses Cont. Warehouse Uses Government - Municipal - Provincial - Federal - Postal Commercial - Insurance - Real Estate - Technical Services - Law - General Business - Other Medical - Medical / Dental Clinic - Optometrist - Chiropractor - Veterinary Clinic Financial - Bank - Trust Company - Finance Company - Credit Union Other - Union / Professional Organization - Religious - Other Car Dealership - Showrooms - Used Car - Service Areas Gas Bar - Car Wash -Self Serve Card Lock Commercial Garage - Auto Repair Shop - Car / Truck Shop Commercial School - Driving School - Model School - Dance School - Karate School - Other Custom Work Shop - Sign Manufacturing/Painting - Picture Framer - Denturist - Sign and Stamp Maker - Upholsterer - Marble Works - Other Supermarket / Convenience Store - Liquor / Beer - Food / Beverage - Supermarket - Deli - Meat Market - Fish Market - Fruit Market - Bakery - Donut Shop - Specialty Food General Merchandise - Department Store - Variety Store Medical Dispensary - Pharmacy - Optical Dispensary Eating Establishment - Restaurant - Cafeteria - Take Out Commercial Residential - Hotel - Motel Retail Store - Clothing - Shoes - Household Goods - Hardware - Furniture - Appliances - Fixtures - Cosmetic - Photographic - Garden - Sporting Goods - Florist - Books - Pet - Hobby - Recorded Music - Musical Instruments - Gift - Toy - Jewelry Service Shop - Shoe Repair - Tailor - Radio / TV Repair - Sun Solarium - Travel - Business Equipment - Barber / Hairstylist - Computer Sales/Service - Interior Design - Video Rental - Equipment Rental - Costume Rental - Clothing Rental - Catering - Laundromat - Other Bar / Lounge Wholesalers and Distributors - Food / Beverage - Dry Goods - Furniture / Appliances - Carpet and Flooring - Health and Pharmaceutical Supplies - Paper Products - Construction Equipment - Marine Equipment - Transportation Equipment - Electrical Goods - Other Light Industrial Manufacturing and Fabrication - Paper Products - Metals - Plastics - Food Processing (Bakery, Dairy, Fish, etc.) Transportation - Truck Terminals and Freight Depots - Courier Storage - Indoor Storage - Freezer Storage Other Place of Amusement - Bowling Alley - Amusement Arcade - Theatre - Cinema Taxi Undertaker Dry Cleaning Establishment 20

23 Appendix C - Top Five Buildings by Gross Floor Area (2016) Table 1: TOP 5 STRUCTURES WITH HIGHEST GFA - MOUNT PEARL NAME CIVIC # STREET GROSS FLOOR AREA (m 2 ) MOUNT PEARL SQUARE TOPSAIL RD. 19, LOBLAWS INC. 35 CLYDE AVE. 13, TRA WHOLESALE 63 GLENCOE DR. WAL-MART 60 MERCHANT DR. CANADIAN TIRE 26 MERCHANT DR. 13, , , Table 2: TOP 5 STRUCTURES WITH HIGHEST GFA - COMMONWEALTH AVE. NAME CIVIC # STREET GROSS FLOOR AREA (m 2 ) COLEMANS/LAWTONS STRIP MALL 2-16 CENTENNIAL ST. 4, DELANCO ENTERPRISES LTD COMMONWEALTH AVE. 2, COMMONWEALTH COURT 50 COMMONWEALTH AVE. 2, MOUNT PEARL PLAZA 7A COMMONWEALTH AVE. 1, PEARL PLACE COMMONWEALTH AVE. 1,

24 Table 3: TOP 5 STRUCTURES WITH HIGHEST GFA - GLENHILL AREA NAME CIVIC # STREET ADDRESS GROSS FLOOR AREA (m 2 ) KENT BUILDING SUPPLIES SOBEYS LAND HOLDINGS LIMITED LOCAL OF THE UNITED ASSOCIATION OF PLUMBERS CITYSTARS RIXCO HOLDINGS INC OLD PLACENTIA RD. 10, OLD PLACENTIA RD. 5, SAGONA AVE. 2, OLYMPIC DR. 1, OLYMPIC DR. 1, Table 4: TOP 5 STRUCTURES WITH HIGHEST GFA PEARLGATE NAME CIVIC # STREET ADDRESS WAL-MART CANADA CORP. 60 MERCHANT DR. CANADIAN TIRE REAL ESTATE LTD. 26 MERCHANT DR. GROSS FLOOR AREA (m 2 ) 12, , LOBLAWS INC. (DOMINION) 150 OLD PLACENTIA RD. 9, WORKS SERVICE & TRANSPORTATION 149 SMALLWOOD DR. 5, STAPLES, THE BUSINESS DEPOT 160 OLD PLACENTIA RD. 5, Table 5: TOP 5 STRUCTURES WITH HIGHEST GFA - TOPSAIL ROAD NAME CIVIC # STREET ADDRESS GROSS FLOOR AREA (m 2 ) CANADIAN SHOPPING CENTRES LTD. (MOUNT PEARL SQUARE) GROUP HOLDINGS LIMITED TOPSAIL RD. 19, TOPSAIL RD. 7, ROMAN CATHOLIC SCHOOL BOARD 785 TOPSAIL RD. 4, SANDAY HOLDING LTD 1444 TOPSAIL RD. 4, ROYAL GARAGE LIMITED 709 TOPSAIL RD. 3,

25 Table 6: TOP 5 STRUCTURES WITH HIGHEST GFA - KENMOUNT & BECLIN BUSINESS PARKS NAME CIVIC # STREET GROSS FLOOR AREA (m 2 ) BECLIN EQUITIES BECLIN EQUITIES BECLIN RD. 4, BECLIN RD BECLIN EQUITIES WOLSELEY INDUSTRIAL PRODUCTS GROUP INC. 30 BECLIN RD COREY KING DR BECLIN EQUITIES 38 BECLIN RD. 3, Table 7: TOP 5 STRUCTURES WITH HIGHEST GFA - DONOVANS BUSINESS PARK LOBLAWS INC. T.R.A. NAME CIVIC # STREET GROSS FLOOR AREA (m 2 ) 35 CLYDE AVE. 13, GLENCOE DR. 13, N.C.H. HOLDINGS LIMITED 60 CLYDE AVE. 10, N.C.H. HOLDINGS LIMITED 14 CLYDE AVE. 9, SYSCO FOOD SERVICE OF ATLANTIC CANADA 10 OLD PLACENTIA RD. 7, Table 8: TOP 5 STRUCTURES WITH HIGHEST GFA - OTHER AREAS KENT BUILDING SUPPLIES NAME CIVIC # STREET ADDRESS GROSS FLOOR AREA (m 2 ) 56 RUTH AVE. 10, MOUNT PEARL JUNIOR HIGH AVALON FORD SALES LTD. HOTEL MOUNT PEARL SJF INVESTMENTS & DCM INVESTMENTS INC. 46 RUTH AVE. 9, WYATT BLVD PARK AVE. 2, RIVERVIEW AVE. 1,

26 Appendix D - Vacant Space (2016) Table 9: OFFICE/RETAIL VACANT SPACE COMMERCIAL AREA TOTAL SPACE (m 2 ) TOTAL VACANT SPACE (m 2 ) VACANCY RATE COMMONWEALTH AVE. GLENHILL AREA PEARLGATE AREA TOPSAIL RD. KENMOUNT & BECLIN BUSINESS PARKS DONOVANS BUSINESS PARK OTHER % % % % % % % TOTAL % Table 10: WAREHOUSE VACANT SPACE COMMERCIAL AREA TOTAL SPACE (m 2 ) TOTAL VACANT SPACE (m 2 ) VACANCY RATE COMMONWEALTH AVE. GLENHILL AREA PEARLGATE AREA TOPSAIL RD. KENMOUNT & BECLIN BUSINESS PARKS DONOVANS BUSINESS PARK OTHER % % % % % % % TOTAL % 24