First to close and last to open

It feels like 2020 has been the longest year on record for everyone.

Things are hardly back to normal by any standard, but it has been encouraging to see the buzz of back to school shoppers and the community embracing dining out again.

As we enter the last quarter of the year, it’s important to remember that there are some industries stuck in limbo, such as any facility that hosts crowds.

What does the future hold for entertainment venues?

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Selling is a form of art

Therefore, salespeople could be considered artists. Here’s an example of what I mean.

With a total of seven partners within our brokerage division, we have a bit different business model at ICR. Our new licensed associates are mentored collectively by the partnership.

When they’re seeking solutions for an assignment, an apprentice is encouraged to request input from a few partners.

We then suggest they take that input and craft a solution that they can call their own.

It’s kind of like art and it’s an empowering process!

It’s interesting how we can all have a different strategy to move to the next step.

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Don’t discount retail discounters

Price slashing. Mark downs. Lower prices. Discounted goods.

The word discount conjures up a variety of value for many consumers.

Discount is a deduction from the usual cost of something.

The irony of that rationale is by who’s standard is the cost of something?

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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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Investors should be parking cash in industrial CRE

In spite of the negative economic impact of COVID-19, the sale and lease activity within our existing industrial market continues.

The vacancy rate has risen marginally by 0.12 per cent to 5.86 per cent, according to our recent Q2 market report.

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The mall needs to be okay

I’ve not been shy about my love affair with the traditional interior mall as a retail institution.

While skeptics have been predicting their inevitable death, the interior mall seems to innovate and survive in spite of its critics.

But could the disruption of the Covid-19 pandemic finally have done them in?

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Options for Lighthouse need to be explored

The Lighthouse, which provides support to Saskatoon’s homeless and mentally ill, is vital to our community but it can’t come at the expense of our vibrant Downtown as a whole.

Prior to the global pandemic, Saskatoon’s Downtown businesses were already feeling the impact of reduced foot traffic due to safety concerns of the Lighthouse.

Now, the reported national statistics for tenant relief requests from the retail sector mirror close to what we’ve seen in Saskatoon.

As a result of economy shutting down to Covid-19, on average, 70 per cent of requests have come from retail tenants; only 30 per cent have come from the office and industrial sectors.

A game plan to invigorate our downtown retail business before it’s too late is urgent.

It’s time for the City, local businesses, and the Lighthouse to examine a Plan B if we hope to save this core neighbourhood.

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Coronavirus claims another victim: SK economy

Reporting to you live from Saskatchewan, stay tuned for more economic spinoff from the Covid-19 pandemic!

And by spinoff, I mean spinning off the tracks or wheels or whatever analogy you’d like to lend.

The Saskatchewan government delivered their budget three months late mid-June, with a big fat $2.4 billion deficit ribbon on top.

It’s a gift no one wanted, and we can’t return to sender.

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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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