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.
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.
We navigate an increasingly complex industry.
When I engage a professional, I expect them to listen to my requirements and establish a strategy to fulfill those requirements and needs.
That could mean preparing me for potentially different outcomes and/or establishing a strategy that results in exceeding my expectations.
Much like the game of chess, strategy plays a huge factor in my odds of success.
We’ve just released our 2Q21 market surveys and all three sectors are reporting a reduction in vacancy.
Remarkable statistics considering the economic storm we’ve been passing through!
It appears that our resource rich economy is only going to continue to improve with the recent upcycle in commodity markets.
International demand for food, fertilizer and fuel have turned the corner after a slow 2020.
Let’s take a look at each sector individually.
As a Commercial Real Estate Broker, it’s my job to prepare my clients.
Typically, there is a process they will need to go through to complete a lease or purchase.
The purpose of my focus here is to provide an overview of the steps necessary to mortgage commercial real estate.
Any discussion on cap rates needs to be prefaced with a cautionary note.
That is, there are many factors that determine capitalization rates on a commercial real estate investment.
Those factors include but aren’t limited to age and condition of improvements, covenant of tenants, term of leases, location, asset class and the tenant mix.
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.
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.
This may sound counterintuitive as we navigate the economic impact of a pandemic.
But I’ve recently reported that our Saskatoon industrial vacancy rate actually dropped in 3Q20 demonstrating the economic resilience of this asset class.
Two industrial properties I recently brought to the market sold within one week.
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.”