Saskatoon retail continues market expansion

Ongoing expansion in our Saskatoon commercial retail sector has resulted in the overall supply exceeding demand.

Our 3Q19 retail market update reports the average vacancy rate has edged up to 4.6 per cent.

Let’s look at where that expansion is taking place and the market locations where the most interesting vacancy story can be told.

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Saskatoon property owners face tax increase, commercial owners’ shoulder greatest burden

The City of Saskatoon has tabled their epic discussion on a two-year budget for 2020/2021.

While the preliminary budget released this summer projected a 3.97 per cent property tax increase overall, we can all breathe a sigh of relief because it will only be 3.7 per cent.

Wait, what the heck?! That’s still a lot!

This is not good news for anyone, especially commercial property owners who already carry a greater tax load than their residential counterparts.

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Balance returns to 50 per cent Saskatoon’s industrial sectors

The overall Saskatoon vacancy rate has been trending lower since its peak in 2016. Our Q319 Industrial Market survey reports an overall current vacancy rate of 6.04 per cent.

That one number does not, however, reveal the complete story.

I consider a rate under 5 per cent to reflect a relatively balanced market.

How close are the eight submarkets to regaining balance?

Here’s an overview along with the factors that are important to consider surrounding that question.

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The art of passionate selling

As a commercial real estate broker/advisor, the type of assignments I take varies significantly.

They’re never boring; there’s a different nuance to every deal!

I started my career in real estate sales when I was 20 years old and to this day, still find it immensely rewarding when a client’s goals are met through a closed transaction.

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Agreement for Sale vs Vendor Takeback: which is really better?

With commercial mortgage rates at historic lows and good availability of funds, we don’t find occasion where these alternative finance options are often used.

There are however times when an alternative strategy is required for the buyer to fund the deal.

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Federal election implications for CRE

It seems like just yesterday that Justin Trudeau shocked Westerners with a decisive victory in the 2015 federal election.

However, it’s been a brisk four years and now everyone’s hitched back up on the old campaign trail.

As is the season, all parties are setting their plans forward for Canadians should they get a chance to lead.

I may have to read between the lines a little, but is there anything in these election promises for the commercial real estate industry?

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How does MY option to renew work?

It was represented to you that you have an option to renew.

There is a specific clause in your lease that spells out details of that option to renew.

However, can that clause effectively achieve what you intend it to?

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I want the advisors I engage to challenge me

I started writing my blog to increase my social media footprint. While it has helped, it’s no longer my purpose.

Rather, I now enjoy expressing my thoughts on issues that pop up in my week. It’s usually something that has happened that inspires me to write about a topic…here’s what’s on my mind.

I want to work with a professional, whether it may be financial, medical or technical, that’s prepared to, at times, tell me what I need to hear.

If I am working with an individual or firm that is always selling me and/or agreeing with my line of thinking, I’m inclined to move on.

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Are government employees sicker than the rest of us?

Too sick for work can be a subjective term.

I must admit I’ve pushed the limits and found myself exiled from the office on more than one occasion for coming to work when I should legitimately be at home.

I would say my average yearly sick days would even out around 3 or 4 maybe.

Which puts me well below recent statistics that say government employees are averaging in at 12.2 days lost per year.

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More than just a place to rest your head

The modern hotel concept sprung up in Europe around 1768.

Before hotels, travelers pitted in at coaching inns which tended to the needs of the traveller and their livestock.

Travel was considerably less common due to restriction of time and distance prior to the proliferation of the railway system.

But with advances in travel came the need for short term lodging.

To say we’ve advanced past seeking a place to lay our head, however, is understatement.

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