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?
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.
The lack of inventory in Saskatoon’s industrial sector is further stymied by the type of properties that are available.
Many industrial users have needs that simply can’t be met by older product.
I’ve had two requests this month to enter a discussion around the price and terms of a transaction.
I declined both requests. Let me explain why.
The pandemic wreaked havoc on many industries, but farmland still remains a hot commodity.
Canadian farmland has steadily increased in price since 2012 and Saskatchewan values are no exception.
My colleague, Eugene Hritzuk recently completed an interesting study of property taxes in 16 Saskatchewan cities.
In each case, the estimate was calculated based on a $4 million commercial property assessment from 2021.
The variance was substantial depending on where he looked.
The current Saskatoon downtown population is 3,106 individuals according to eHealth Saskatchewan which is down from a high of 3,331 in 2020.
With this limited population base, Saskatoon has struggled to attract a downtown grocery store.
Saskatoon’s beleaguered former Continental Hotel has met with the wrecking ball.
The Continental Hotel had been in in operation since 1967 before they officially closed their tavern in 2007.
It only took a few hours to erase the storied history of the building.
That was advice I received from a client many years ago when I was considering investing in my first commercial real estate property.
I took his advice, partnered with a colleague, bought the apartment building, and had no regrets.
It was the right message, delivered at the right time and have since repeated that same message to clients when the time was appropriate.
What if you have a vision but no money to implement it?
This a common thread points of all start-ups.
There is a spate of miniseries on streaming services right now regarding high profile business struggles that I think are worth checking out.