Hear ye, hear ye: news dropped this week as to which Hudson’s Bay (HBC, The Bay) department stores will feature restored Zellers stores within their existing footprints.
This news isn’t a complete surprise as the Bay has been dropping tidbits of this brand within a brand for the past year.
I may be out of line here, but who exactly is crying to see the return of Zellers?
Altus Group has recently released its 2022 “Canadian Property Tax Rate Benchmark Report,” which provides some interesting stats.
Although Saskatoon and Regina both raised commercial tax rates, with Saskatoon increasing by 3.3% to $16.15 and Regina by 2.74% to $17.14, Saskatchewan’s costs are far below the national average.
Patience is a virtue for multi-tenant investment sales final adjustments
All parties to a sale (brokers, property managers, buyers, sellers, and lawyers) must be prepared for the process necessary to calculate occupancy cost adjustments at sale closing.
If you’re selling multi-tenant commercial real estate, the final statement of adjustments that your lawyer provides could take a couple of months to complete.
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.
Condo ownership can be likened to a long-term personal relationship.
This is probably most relevant in residential examples; your home tends to be more sentimental than your work environment.
You spend a lot of time at work. Due to that time investment into your business you want to do everything to ensure a property will serve you for the long run.
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?