While both the industrial and office sectors have displayed somewhat volatile vacancy rates over the past five years, the retail sector has consistently performed well.
Aside from Regina straying slightly over 4 per cent in 2017, both cities have otherwise achieved a number below 4 per cent since 2013.
Let’s take a closer look at each city.
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Our Lady of Paris, the literal translation for Notre-Dame de Paris, has received an outpouring of public sympathy following a devastating fire last week.
Having seen Notre-Dame in person I can tell you it’s something to marvel.
The full cost of the fire is still being tallied but I’m not sure you can put a price on something that is nearly irreplaceable.
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There are times when it is not wise to invest in commercial real estate.
Alternatively, many potential investors don’t take the plunge out of fear of the unknown and years later regret it.
Let’s look at some examples of when you’d be advised not to purchase.
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In a city projecting another deficit year, it might seem strange that Mayor Charlie Clark has decided to lay down a mandate for a new downtown rink.
But Clark has recently declared that a site for the new arena will need to be chosen before the end of 2019.
What’s the big rush?
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There are three significant numbers I’m looking at to determine the sentiment of the industrial real estate market.
One of those numbers is positive, and two illustrate we have yet a way to go before we’ve fully recovered.
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Last week, Saskatchewan’s Minister of Finance Donna Harpauer released her second budget, which projects a $34.4-million surplus for 2019.
Thinking selfishly, I wondered: how does this budget impact commercial real estate sale investment in our province?
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I purchased my second single family home in 1979. It was located at the end of a quiet cul-de-sac in a good neighborhood.
The downside was it backed onto a retail strip mall. That wasn’t a concern for me however because everything within that retail corridor was one storey.
Within a year of owning the home, it was announced that a five-storey office building would be constructed overlooking my rear yard.
I immediately sold the property.
Even though the project was public knowledge, I believed it would be easier to sell before it could be seen that the windows in that towering structure would have a full view of my yard.
From that early, first hand experience I can relate to homeowners that are suddenly faced with a project that significantly impacts the value of their home.
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The Regina Leader-Post published an article in 2008 with Stu Rathwell, a franchise partner in the new Regina’s Chili’s Grill and & Bar.
Stu shared that his Saskatoon location would be open by that year’s end.
His optimism about the Chili’s brand was hopeful; if things took off as he was hoping, he predicted people could expect to see several more open across the province.
Fast forward to 2019.
If you happened upon Saskatoon’s Preston Crossing the last week of February, you may have caught sight of Stu’s dream deflating right before your eyes.
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Entrepreneurs Louis and Shaol Pozez could not anticipate 63 years ago that the demise of their discount shoe business would be taken down by a network of computers
This isn’t a story from the rejected piles of Terminator franchise spinoffs; this is a reality.
The Pozez’ conception that grew into Payless ShoeSource brick and mortar stores across the U.S. and Canada are officially shuttering.
Their disregard for advancing online sales, in addition to highly leveraged assets, proved fatal.
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