Best practices for negotiating Commercial Real Estate

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.

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Why you should sell your Commercial Real Estate now

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.

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Hard to place CRE tenants

Commercial real estate landlords, regardless of their vacancy, don’t have to be excited to rent to just anybody.

Sophisticated landlords can get downright picky.

This isn’t necessarily a reflection of discrimination towards any type of tenant, however.

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Should you hire a broker to negotiate your lease renewal?

Some Landlords believe they can renew their Tenants at the same rental rate that a Broker is able to negotiate.

Alternatively, Tenants often believe they can do a good job representing themselves in their renewal.

Whether a Landlord or a Tenant, your commercial real estate representative can make a solid case why you should contract an experienced broker to represent you.

I am not referring to dual agency but rather single agency where a Broker would represent either a Tenant or a Landlord.

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Evolving conversation on open office

It’s interesting how business philosophies can evolve.

When I joined ICR 25 years ago, everyone had individual offices.  You rarely saw a closed door but each of us had our own space.

Our company culture has always been open and collaborative.

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4 Reasons to engage a chess player to guide your CRE strategy

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.

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Your space is a reflection of your business

Have you ever entered a business that turned you off so quickly that you couldn’t wait to exit?

This happens all too often in the retail and service industry.

What message is your space presenting to potential clientele?

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Saskatoon’s commercial real estate markets demonstrate resiliency

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.

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Permanent pandemic practices for the good

Saskatchewan has entered step three of our reopening plan and most restrictions from public health orders have been lifted.

But does that mean we should all go back to business as usual?

I think there are a few pandemic measures we could all just continue with.

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Buyer beware of often onerous commercial mortgage process

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.

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