A recently installed sprinkler system is credited with stopping Thursday’s fire at a building at the St. Jacobs Farmers’ Market from being much worse.

Officials with Woolwich Township say the sprinklers effectively kept the fire under control until firefighters arrived at the scene.

“The sprinklers did their work. The fire alarm system did its work,” said Dennis Aldous, the township’s fire prevention officer.

Peddlar's Village fire
Black smoke rises from Peddlar's Village at the St. Jacobs Farmers' Market on Thursday, May 26, 2016. (Rac Loh / MyNews)

As many as 80 vendors have been displaced by the fire, which is believed to have been sparked by workers using a propane torch on the roof of Peddlar’s Village.

Friday, many of those vendors waited outside the building, hoping for any information about the situation inside.

“We basically haven’t been told very much, other than (that) we aren’t allowed to go in the building,” said Jacqueline Vass.

A few items were removed from the building Friday – generally valuables, including cash registers and at least one set of keys.

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Firefighters work to control a fire at the Peddler's Village building at the St. Jacobs Farmers' Market on Thursday, May 26, 2016. (Max Wark / CTV Kitchener)

An initial damage estimate from the fire sits at $150,000, officials said Friday.

That number only applies to the building itself, and not vendors' contents.

Although the fire itself did not cause a lot of damage, it is believed that smoke and water did take a substantial toll on the building and its contents.

Some vendors told CTV Kitchener that they believed they were out tens of thousands of dollars due to lost inventory. All told, the toll could hit $1 million.

While Peddlar’s Village will remain off-limits during Saturday’s market hours, the rest of the complex will be open and operating normally.

It is expected to be at least a few weeks before Peddlar’s Village reopens.