The overall Saskatoon vacancy rate has been trending lower since its peak in 2016. Our Q319 Industrial Market survey reports an overall current vacancy rate of 6.04 per cent.
That one number does not, however, reveal the complete story.
I consider a rate under 5 per cent to reflect a relatively balanced market.
How close are the eight submarkets to regaining balance?
Here’s an overview along with the factors that are important to consider surrounding that question.
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As a commercial real estate broker/advisor, the type of assignments I take varies significantly.
They’re never boring; there’s a different nuance to every deal!
I started my career in real estate sales when I was 20 years old and to this day, still find it immensely rewarding when a client’s goals are met through a closed transaction.
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With commercial mortgage rates at historic lows and good availability of funds, we don’t find occasion where these alternative finance options are often used.
There are however times when an alternative strategy is required for the buyer to fund the deal.
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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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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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I started writing my blog to increase my social media footprint. While it has helped, it’s no longer my purpose.
Rather, I now enjoy expressing my thoughts on issues that pop up in my week. It’s usually something that has happened that inspires me to write about a topic…here’s what’s on my mind.
I want to work with a professional, whether it may be financial, medical or technical, that’s prepared to, at times, tell me what I need to hear.
If I am working with an individual or firm that is always selling me and/or agreeing with my line of thinking, I’m inclined to move on.
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There are many real estate investors who wish they’d just got into a market before a boom.
Appreciation of real estate investments has made many people wealthy over time.
For those willing to take the risk, the reward can be real.
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A focus on deal timelines are a necessary evil in our commercial real estate world.
They are the thread that binds conditional lease and sale transactions.
But what happens when issues arise beyond your control that negate those agreed upon timelines?
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We were recently called in to value and market a single tenant property with an existing lease in place. The tenant had been granted an option to renew during their last renewal negotiation.
I informed the owner that we would have been able to achieve a higher price if we were able to go to the market as a vacant property.
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Oh sure, everyone has ideas about how to get a space leased up.
But when is the last time someone made a list about how not to get a space filled?
Wait no more, landlords, I have a list as such for you.
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