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?
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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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Christmas is a time to reflect and appreciate all the good things that happened over the past year.
Commercial real estate agents are no different.
And as such, I submit to you the greatest gifts tenants, landlords, buyers and sellers gave me in 2019.
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Canadians have never been more in love with household pets.
According to the latest statistics from the Canadian Animal Health Institute (CAHI), there are 8.2 million dogs and 8.3 million cats in Canadian households.
That’s a ten per cent increase over the past ten years, reports CAHI.
This equates to approximately 41 per cent of all homes having one dog, or 37 per cent having one cat.
It’s no surprise then that the pet business is booming.
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It seems like just yesterday that Justin Trudeau shocked Westerners with a decisive victory in the 2015 federal election.
However, it’s been a brisk four years and now everyone’s hitched back up on the old campaign trail.
As is the season, all parties are setting their plans forward for Canadians should they get a chance to lead.
I may have to read between the lines a little, but is there anything in these election promises for the commercial real estate industry?
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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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You may be in your last year of university and considering your career options or, have just come to the realization that your current professional path is not going to be your lifework.
The idea of a career in commercial real estate sales is appealing. What’s your next step?
Talk to a few different Brokers. There can be significant differences between commercial real estate companies.
It’s beneficial to gain the perspective of more than one Broker to determine if the career is right for you.
If you decide to move forward, you’ll have a good sense of which company you would prefer to work for and the process they go through to decide who and when they hire.
Here are some questions to raise during the interview process.
Have you ever stumbled onto one of those websites that features abandoned spaces?
My favourites are old malls. Once so bustling and now so neglected.
But what if you were looking at a vacant mall that was brand new?
For the purpose of this conversation, let’s assume you are sitting on cash or liquid asset(s) and have decided to invest a portion of your available capital into commercial real estate.
What factors need to be considered to make a prudent investment decision?
I wrote about the advantages of partnerships, but let’s say the idea of a partnership does not interest you.
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