Value is in the eye of the CRE beholder

There is one thing universal to commercial real estate transactions when it comes to investment buyers and sellers.

Buyers want the highest cap rate they can find; and sellers want to challenge the market with the lowest cap rate it will withstand.

Often the value of the property lies somewhere in between.

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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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My digital detox in a wired world

What’s my definition of a digital detox? To me it means no screen time.

Screens include my computers, laptop, smart phone and televisions. I happened to grow up before the video game craze so that one’s not on my list.

Studies show that much of society today is addicted to digital. I could very well be included in that group!

I’ve experimented with withdrawing from use of electronics for a day in the past; I decided to make it a once a week, permanent habit early this year.

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The oxymoron of office culture for remote workers

The dialogue is starting around this latest experiment in the office sector.

We’ve seen other experiments in recent years such as the open office concept and co-working concept. COVID-19 has accelerated a work-from-home (WFH) trial that might otherwise have taken years to duplicate.

Will WFH emerge as the disruptor that some are suggesting?  

Will organizations be able to maintain culture within, while the experiment is underway?

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Fair is fair

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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New challenges await social distancing office users

Despite patting ourselves on the back for flattening the curve in Saskatchewan, we flatlanders are not out of the woods yet.

In the anticipated build up to employees returning to their traditional workspaces, stringent protocols will be in place for office users in particular.

A return to our previous normal practice seems a long time away and some speculators predict the Covid-19 pandemic will change office interaction permanently.

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May the Fourth be with you

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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Industrial will evolve as the preferred CRE asset class

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 too 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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What might CRE look like after Covid-19?

There is no question about the effects of the Covoid-19 pandemic on Canada’s economy.

This sudden misfortune has tested the strength of the commercial real estate industry in ways we’ve never encountered before.

So what does the future hold for tenants when this is all over?

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Note to all Brokerage and Property Management clients and tenants

ICR Strategy RE: COVID-19

As the impact of COVID-19 is felt across this country and continues to evolve, we want you to know that ICR’s Emergency Response Team is focusing on prevention strategies, ensuring appropriate responses as the situation develops. The current risk to the individual may appear to be low, however the risk to society is immeasurable. We are discussing preventative measures to limit the exposure of our staff to the virus and business continuity plans.

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