One of many benefits to setting up shop in SK

Altus Group has recently released its 2022 “Canadian Property Tax Rate Benchmark Report,” which provides some interesting stats.

Although Saskatoon and Regina both raised commercial tax rates, with Saskatoon increasing by 3.3% to $16.15 and Regina by 2.74% to $17.14, Saskatchewan’s costs are far below the national average.

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Debunking CRE real estate myths

Myths are described as either traditional stories of phenomenon or more commonly a widely held but false belief or idea.

I’ve tackled commercial real estate myths before but I think it’s due time to add a few more to the list.

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Every Saskatoon CRE vacancy rate drops

The raw data for our 3Q22 market reports have been compiled, and the findings are fascinating.

The four main categories, downtown and suburban office, retail and industrial sectors, have seen positive absorption since the last quarter.

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YXE downtown metamorphosis

Build it and they will come, at least Saskatoon’s City Council hopes so.

As they endeavour to bring a new downtown arena to fruition it’s worth noting the changes that have already taken place in the core.

And how the new arena will only thrive in it.

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Carrying the Mission, Vision & Values Message through corporate leadership

I firmly believe that the most crucial job a leadership team has is to design and implement strategies to see the organization grow and flourish in the long term.

About four years ago, we completed the soft rebrand of ICR.

We didn’t set out to significantly alter our corporate image and logo, but we knew we needed a refresh.

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Where do Saskatoon industrial lease rates go from here?

Oil and gas prices will continue to drive economic growth in Saskatchewan and Alberta through 2024, according to the Conference Board. Saskatchewan will also benefit from higher prices for commodities such as wheat and potash.

Saskatchewan is reported to lead our country in 2022 with a growth of 7.6 per cent.

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Slow but steady road towards sales proceeds

Patience is a virtue for multi-tenant investment sales final adjustments

All parties to a sale (brokers, property managers, buyers, sellers, and lawyers) must be prepared for the process necessary to calculate occupancy cost adjustments at sale closing.

If you’re selling multi-tenant commercial real estate, the final statement of adjustments that your lawyer provides could take a couple of months to complete.

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Well worth the price of admission

You can’t beat the smell of fresh popcorn or the big screen presentation of a movie in a cinema.

Movie theatres like all entertainment venues have struggled to hang on during the unending global turmoil of the pandemic.

Will they ever get back to business as usual?

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Big divide between YXE downtown & suburban office vacancy

This Saskatoon office vacancy graph illustrates it well.

We see the relative similarity between downtown and suburban office vacancy trends for the 12 years between 2008 and 2020; then, suddenly, in 2020, the divide begins to swell.

We currently have over a 10 per cent vacancy spread between the two submarkets.

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