The current Saskatoon downtown population is 3,106 individuals according to eHealth Saskatchewan which is down from a high of 3,331 in 2020.
With this limited population base, Saskatoon has struggled to attract a downtown grocery store.
That was advice I received from a client many years ago when I was considering investing in my first commercial real estate property.
I took his advice, partnered with a colleague, bought the apartment building, and had no regrets.
It was the right message, delivered at the right time and have since repeated that same message to clients when the time was appropriate.
What if you have a vision but no money to implement it?
This a common thread points of all start-ups.
There is a spate of miniseries on streaming services right now regarding high profile business struggles that I think are worth checking out.
As brokers, landowners engage us to provide an opinion of value on development land.
At the same time, those landowners often offer, what is believed to be, comparable land sales within close proximity to the subject property.
What they may not realize is that there could be a whole back story to that supposed comparable land sale that render it incompatible as a sale comp.
The markets are pricing in five, quarter point interest rate increases in 2022 which will result in commercial mortgage rates ranging between 4 to over 5 per cent.
What will be the consequences of this increase to the commercial real estate investment market?
There are many working parts in offering to purchase or lease a commercial real estate property.
Determining the strategy you will employ in a negotiation, however, can have a big bearing on the outcome.
I can’t handle reading any more news on how the pandemic has decimated the economy.
If you know my background, you aren’t surprised that I have a lot opinions about how media is operating these days.
Overstating the obvious isn’t making anything better, I liken it to reporting on the umpteenth snowstorm this winter.
So I am on a personal mission (at least this week) to report only on the uplifting stories despite the pandemic!
There has never been a better time to cash-out of your Saskatchewan industrial and retail commercial real estate.
While there is currently demand from owner occupants for office buildings, that demand however is not the same for multi-tenant office due to typically higher vacancy in that particular asset class.
Insurance is a difficult line item to justify sometimes until you need it.
Do I have enough? Can I actually access it if I need to?
What happens if I just don’t have any?
It’s interesting to see the similarity that has been revealed between Regina and Saskatoon through ICR’s latest Market Update.
The difference in vacancy rates between the two cities, in this sector are less than 10 basis points.
You must go back to 2010 to find similar strength in absorption of vacant industrial property.