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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The sudden, real impact of COVID-19 can be seen in supply chain disruptions, lower consumer confidence and reduced consumer spending.
Trying to measure the macro picture, the scope and duration of the economic stoppage is not easy.
For those corporations who are currently sitting on surplus capital, waiting for the bargains to surface, it is still to early to assess how property values will be affected.
It is however, becoming clear which sector will emerge as strongest asset class.
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There is no question about the effects of the Covoid-19 pandemic on Canada’s economy.
This sudden misfortune has tested the strength of the commercial real estate industry in ways we’ve never encountered before.
So what does the future hold for tenants when this is all over?
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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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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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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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Did you know when you’re buying or leasing that you can engage a commercial broker to search listings, organize viewings, and write offers, among other duties, for the low cost of… ZERO?
This relationship is referred to as a Buyer’s broker and as the name suggests, they work for you and you alone.
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This question that was asked of me yesterday triggered the notion that there was a need to write about it.
Each of these three valuation processes have different end goals. It’s important to understand which value can be relied upon to represent fair market value.
When either a real estate broker or accredited appraiser is gathering information to determine a value, neither the insurance nor assessed tax values are taken into consideration.
It’s not what everyone wants to hear. If you’re hoping for a high value, you’re more likely to quote the number stated on your insurance policy. Let me explain.
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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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There are times in life where I’ve failed or hit the wall. In those moments, it’s easy to become engulfed with negativity.
However, reflecting objectively on those grim times, they’ve consistently happened for a reason.
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