Avoid commercial real estate roadblocks

Have you ever come across a roadblock, turned to take an alternative route and found yourself up against another obstacle?

During Saskatoon’s construction season (basically anytime not designated Winter), it can be frustrating trying to find a route without some hurdle.

Likewise, commercial real estate buyers and sellers can potentially encounter endless roadblocks during the course of a transaction.

Unlike driving, though, you can anticipate these snags and potentially veer around them.

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More than meets the eye on retail site selections

My short commute route takes me past two nationally branded gas stations.

Both locations seem to be compatible in exposure and traffic count with front elevations that showcase up-to-date versions of their respective brands.

Why then is one site far more successful than the other?

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Trust happens when I’m transparent with clients

No one can pinpoint a precise market number.

Run for the hills If a broker represents that they know exactly what your property is worth.

Doubly so if a commercial real estate broker tours you through property and does not point out the defects, as well as the features.

So who can you trust?

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Can Canada’s oldest retailer hang on?

From fur trading to e-commerce, the oldest and most resilient retailer in Canada has been the Hudson’s Bay Company (HBC) since 1670.

The company’s roots go back so far, they pre-date Confederation by nearly 200 years.

If ever there was an example of reinvention, over and over again, it will never be said that this retailer went down without a fight.

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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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Creepin it real this Halloween

The pandemic is sure to have put a damper on the pop-up Halloween store phenomena of the last few years.

A Value Village survey in 2018 revealed that 40 per cent of customers stated Halloween is their favourite holiday; second only to Christmas, it would seem, when it comes to seasonal spending.

So it should come as no surprise that the Retail Council of Canada is reporting that eight out of ten Canadians still intend to celebrate Halloween this year despite Covid-19 concerns.

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The line is drawn between easements & encroachments

I have a pretty wide range of expertise as a commercial real estate professional.

I’m not an engineer, electrician, or city planner, but I need to understand some working knowledge in all these areas (and others) to properly advise my clients.

An issue that comes up pretty regularly in our world is dealing with easements and encroachments on properties.

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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?

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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.

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