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.
Continue Reading3 tenant tips for renewals
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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.
Continue ReadingVerbal 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.”
Continue ReadingIs there mega concern for megatrends?
Megatrends are often described as powerful and transformational forces that can change economy, business and society over the course of centuries.
Obvious examples of this would be the use of electricity, the creation of the automobile and in the most recent past, the adoption of the Internet.
We follow quarterly and annual trends in our markets, but what are some of the megatrends being predicted for our economy as they may affect commercial real estate specifically?
Continue ReadingHow 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?
Continue ReadingWhen not to buy commercial real estate
There are times when it is not wise to invest in commercial real estate.
Alternatively, many potential investors don’t take the plunge out of fear of the unknown and years later regret it.
Let’s look at some examples of when you’d be advised not to purchase.
Continue ReadingAnother retail bricks & mortar obituary
Entrepreneurs Louis and Shaol Pozez could not anticipate 63 years ago that the demise of their discount shoe business would be taken down by a network of computers
This isn’t a story from the rejected piles of Terminator franchise spinoffs; this is a reality.
The Pozez’ conception that grew into Payless ShoeSource brick and mortar stores across the U.S. and Canada are officially shuttering.
Their disregard for advancing online sales, in addition to highly leveraged assets, proved fatal.
Does Saskatoon want or need Farmers’ Market six days a week?
The City of Saskatoon has officially put out a tender to lease the Farmers’ Market building in Riversdale.
At current, the facility is leased to and operated by the Saskatoon Farmers’ Market Co-operative Ltd.
In their original agreement to lease the property, they outlined their plans to expand the market hours over time.
That vision has only grown to three advertised full market days. The City is ready to let someone else take a run at it.
Continue Reading
Saskatchewan cities enjoy lowest commercial to residential tax ratio
There is lots of chatter on the street with the recently released preliminary budget from the City of Saskatoon which proposes a 4.5 per cent property tax hike in 2019.
That chatter is incomplete without stepping back and looking at a couple of key issues.
Those two issues are residential and commercial tax ratios and the ongoing cost of city infrastructure growth.
Saskatoon industrial vacancy drops
Our quarterly market reports have just been released and we’re pleased to report that the overall industrial vacancy rate is heading in the right direction!
The increase in absorption over the last quarter has resulted in just over a 50-basis point decrease in vacancy from 7.5 per cent to 6.9 per cent.
We have, however, seen the average asking net rental rate decrease from $10.61 PSF to $10.20 PSF.
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