Saskatoon’s commercial real estate markets demonstrate resiliency

We’ve just released our 2Q21 market surveys and all three sectors are reporting a reduction in vacancy.

Remarkable statistics considering the economic storm we’ve been passing through!

It appears that our resource rich economy is only going to continue to improve with the recent upcycle in commodity markets.

International demand for food, fertilizer and fuel have turned the corner after a slow 2020.

Let’s take a look at each sector individually.

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Vacancy does not equate to desperation

It’s easy to get skeptical about leasing commercial real estate with all the media reporting business doom and gloom during the pandemic.

Well I’m here to tell you, not only is their rising hope on the horizon but things aren’t near as dicey as some think.

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3 tenant tips for renewals

Renewals in commercial leasing can be almost as important as securing a lease in the first place.

There is quite a bit of finesse to this process.

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How smart companies will address work-from-home

Smart companies will look beyond potential cost savings and base their decision on how to best invest in their most important asset…their employees.

I’m often asked what I believe will be the impact of the work from home transition on office occupancy.

I think it’s a matter of planning and investing where the money will be best served.

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Industrial sales close in the blink of an eye

This may sound counterintuitive as we navigate the economic impact of a pandemic.

But I’ve recently reported that our Saskatoon industrial vacancy rate actually dropped in 3Q20 demonstrating the economic resilience of this asset class.

Two industrial properties I recently brought to the market sold within one week. 

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Verbal Offer is No Offer

If in a negotiation you hear the Seller say: “I’ve already been offered $X sum of money,” and that amount seems somewhat unrealistic, ask if it the offer was in writing.

It’s interesting how many times the response is, “no, it was not in writing.”

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How does MY option to renew work?

It was represented to you that you have an option to renew.

There is a specific clause in your lease that spells out details of that option to renew.

However, can that clause effectively achieve what you intend it to?

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