Good news stories during pandemic

I can’t handle reading any more news on how the pandemic has decimated the economy.

If you know my background, you aren’t surprised that I have a lot opinions about how media is operating these days.

Overstating the obvious isn’t making anything better, I liken it to reporting on the umpteenth snowstorm this winter.

So I am on a personal mission (at least this week) to report only on the uplifting stories despite the pandemic!

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Saskatoon industrial market far exceeds my 2021 prediction

I was a bit off the mark!

One year ago, I predicted that the Saskatoon Industrial vacancy rate would slip under 5 per cent by year end.  It was sitting at 5.32 per cent at that time. 

We’re just about to release our 4Q 2021 market reports which will show that the average industrial vacancy rate declined by 1.33 per cent to 3.99 per cent.

With a positive net absorption of 42,147 SF quarter over quarter, that rate of decline accelerated after a 1.23 per cent drop that took place over the two previous years.

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Owners and Tenants beware: Airbnb vs. Vrbo

Navigating the differences between Vrbo and Airbnb can be confusing for both guests and owners.

Often owners will list their property on both sites and if the two platforms are not analyzed, guests can unknowingly pay more for a property on one site compared to the other.

Conversely, owners will realize less net proceeds from their bookings unless they know the numbers and structure their listings to account for those differences.

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Why you should sell your Commercial Real Estate now

There has never been a better time to cash-out of your Saskatchewan industrial and retail commercial real estate.

While there is currently demand from owner occupants for office buildings, that demand however is not the same for multi-tenant office due to typically higher vacancy in that particular asset class.

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Don’t let Tenant insurance fall through the cracks

Insurance is a difficult line item to justify sometimes until you need it.

Do I have enough? Can I actually access it if I need to?

What happens if I just don’t have any?

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Lowest SK industrial vacancy in over a decade

It’s interesting to see the similarity that has been revealed between Regina and Saskatoon through ICR’s latest Market Update.

The difference in vacancy rates between the two cities, in this sector are less than 10 basis points.

You must go back to 2010 to find similar strength in absorption of vacant industrial property.

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Hard to place CRE tenants

Commercial real estate landlords, regardless of their vacancy, don’t have to be excited to rent to just anybody.

Sophisticated landlords can get downright picky.

This isn’t necessarily a reflection of discrimination towards any type of tenant, however.

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Should you hire a broker to negotiate your lease renewal?

Some Landlords believe they can renew their Tenants at the same rental rate that a Broker is able to negotiate.

Alternatively, Tenants often believe they can do a good job representing themselves in their renewal.

Whether a Landlord or a Tenant, your commercial real estate representative can make a solid case why you should contract an experienced broker to represent you.

I am not referring to dual agency but rather single agency where a Broker would represent either a Tenant or a Landlord.

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