Regina City Council was publicly criticized last week for a land sale they engaged in with an undisclosed buyer.
Some of the outcry is from adjacent property owners who may or may not have had use for the land themselves.
But any criticism from the general public about the cloak and dagger secrecy of the sale may not be fair.
The Last Blockbuster (2020)
“Do I rent missing renting from a physical store, no, absolutely not. I don’t think anybody does.”
86 minutes, streaming on Netflix (2020) Trailer
The giant of all video rental franchises has truly fallen, with one remaining store in Bend, Oregon.
I’m sure most of us are surprised to hear there would even be one left in the wake of home streaming.
Thankfully, filmmakers have documented Blockbuster’s rise to fame and the eventual aftermath called The Last Blockbuster which ironically is airing through Netflix.
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.
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.
When an economy starts slipping people may still be going out to eat or shopping but the first luxury they cut is travelling.
And one of the industries that feels that impact most closely are hotels.
With a lot of news focussing on airlines, hotels appeared to be largely left out of federal aid until later stages of the pandemic.
With new national air travel quarantines coming into effect Feb. 22, will this act as a Band-Aid for struggling hotels?
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.
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?
The past year has been a roller coaster for the commercial real estate industry.
Just when it looked like were gaining traction it seemed the world had another thing in store for us.
But I’m hopeful for 2021 and therefore I choose to focus on what’s in store for us.
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?
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.