First to close and last to open

It feels like 2020 has been the longest year on record for everyone.

Things are hardly back to normal by any standard, but it has been encouraging to see the buzz of back to school shoppers and the community embracing dining out again.

As we enter the last quarter of the year, it’s important to remember that there are some industries stuck in limbo, such as any facility that hosts crowds.

What does the future hold for entertainment venues?

Continue Reading

Selling is a form of art

Therefore, salespeople could be considered artists. Here’s an example of what I mean.

With a total of seven partners within our brokerage division, we have a bit different business model at ICR. Our new licensed associates are mentored collectively by the partnership.

When they’re seeking solutions for an assignment, an apprentice is encouraged to request input from a few partners.

We then suggest they take that input and craft a solution that they can call their own.

It’s kind of like art and it’s an empowering process!

It’s interesting how we can all have a different strategy to move to the next step.

Continue Reading

Don’t discount retail discounters

Price slashing. Mark downs. Lower prices. Discounted goods.

The word discount conjures up a variety of value for many consumers.

Discount is a deduction from the usual cost of something.

The irony of that rationale is by who’s standard is the cost of something?

Continue Reading

Investors should be parking cash in industrial CRE

In spite of the negative economic impact of COVID-19, the sale and lease activity within our existing industrial market continues.

The vacancy rate has risen marginally by 0.12 per cent to 5.86 per cent, according to our recent Q2 market report.

Continue Reading

The mall needs to be okay

I’ve not been shy about my love affair with the traditional interior mall as a retail institution.

While skeptics have been predicting their inevitable death, the interior mall seems to innovate and survive in spite of its critics.

But could the disruption of the Covid-19 pandemic finally have done them in?

Continue Reading

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.

Continue Reading

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?

Continue Reading

Fair is fair

Fair is a pretty relative term in the commercial real estate universe.

It depends entirely on which side of the transaction you are as to what your perception of fair may be.

In regard to commercial leasing, does fair apply to the landlord or tenant?

Continue Reading

Don’t miss this critical element in CRE investment purchase

If you’ve purchased a commercial or residential condo, you would have encountered an estoppel certificate. 

There are many reasons for obtaining a condominium estoppel. They provide insight into the project reserve fund, illustrate if there are any unpaid contributions or arrears and determine if its bylaws and policies are in good standing.

Estoppels are just one of many due diligence items I encourage buyers to ask for.

The information I’m discussing here is applicable only to single and multi-tenant investments (excluding multi-family rentals).

Let’s look at the importance of obtaining estoppel certificate(s) during your investigation of an investment property.

Continue Reading

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.

Continue Reading