Options for Lighthouse need to be explored

The Lighthouse, which provides support to Saskatoon’s homeless and mentally ill, is vital to our community but it can’t come at the expense of our vibrant Downtown as a whole.

Prior to the global pandemic, Saskatoon’s Downtown businesses were already feeling the impact of reduced foot traffic due to safety concerns of the Lighthouse.

Now, the reported national statistics for tenant relief requests from the retail sector mirror close to what we’ve seen in Saskatoon.

As a result of economy shutting down to Covid-19, on average, 70 per cent of requests have come from retail tenants; only 30 per cent have come from the office and industrial sectors.

A game plan to invigorate our downtown retail business before it’s too late is urgent.

It’s time for the City, local businesses, and the Lighthouse to examine a Plan B if we hope to save this core neighbourhood.

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Coronavirus claims another victim: SK economy

Reporting to you live from Saskatchewan, stay tuned for more economic spinoff from the Covid-19 pandemic!

And by spinoff, I mean spinning off the tracks or wheels or whatever analogy you’d like to lend.

The Saskatchewan government delivered their budget three months late mid-June, with a big fat $2.4 billion deficit ribbon on top.

It’s a gift no one wanted, and we can’t return to sender.

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The oxymoron of office culture for remote workers

The dialogue is starting around this latest experiment in the office sector.

We’ve seen other experiments in recent years such as the open office concept and co-working concept. COVID-19 has accelerated a work-from-home (WFH) trial that might otherwise have taken years to duplicate.

Will WFH emerge as the disruptor that some are suggesting?  

Will organizations be able to maintain culture within, while the experiment is underway?

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New challenges await social distancing office users

Despite patting ourselves on the back for flattening the curve in Saskatchewan, we flatlanders are not out of the woods yet.

In the anticipated build up to employees returning to their traditional workspaces, stringent protocols will be in place for office users in particular.

A return to our previous normal practice seems a long time away and some speculators predict the Covid-19 pandemic will change office interaction permanently.

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May the Fourth be with you

Last week Saskatchewan Premier Scott Moe announced a phased in plan to reopen the province for business in the wake of Covid-19.

While some people are saying it is too soon, most agree that it has been long enough.

So how will this unfold for commercial real estate tenants?

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My “Negative Attitude” cure for the CRE Professional

I’m grateful that despite the new challenges many of us are currently encountering in this remarkable new world, I’m doing well. 

However, that would not always have been the case in my past.

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4 ways to show your support for local business

It is certainly weird times out there right now.

With no one able to predict how long this will last, it is imperative that we remember to support local business as they’ll be struggling along with the rest of us.

But how can I support local business if I can’t leave my house?

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Note to all Brokerage and Property Management clients and tenants

ICR Strategy RE: COVID-19

As the impact of COVID-19 is felt across this country and continues to evolve, we want you to know that ICR’s Emergency Response Team is focusing on prevention strategies, ensuring appropriate responses as the situation develops. The current risk to the individual may appear to be low, however the risk to society is immeasurable. We are discussing preventative measures to limit the exposure of our staff to the virus and business continuity plans.

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Is there mega concern for megatrends?

Megatrends are often described as powerful and transformational forces that can change economy, business and society over the course of centuries.

Obvious examples of this would be the use of electricity, the creation of the automobile and in the most recent past, the adoption of the Internet.

We follow quarterly and annual trends in our markets, but what are some of the megatrends being predicted for our economy as they may affect commercial real estate specifically?

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Saskatoon retail continues market expansion

Ongoing expansion in our Saskatoon commercial retail sector has resulted in the overall supply exceeding demand.

Our 3Q19 retail market update reports the average vacancy rate has edged up to 4.6 per cent.

Let’s look at where that expansion is taking place and the market locations where the most interesting vacancy story can be told.

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