There is definitely a trend in the commercial real estate industry to open office concepts.
There are a number of reasons why it works for some office users, but it may not make sense for everyone.
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I’ve never professed to be a psychic, but I think looking over the trends of the past year I can safely make a few bets on the commercial real estate market for Saskatoon in 2020.
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Christmas is a time to reflect and appreciate all the good things that happened over the past year.
Commercial real estate agents are no different.
And as such, I submit to you the greatest gifts tenants, landlords, buyers and sellers gave me in 2019.
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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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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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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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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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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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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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Inspired after watching a TEDx video this spring by Chris Bailey, I was determined to unplug during my summer vacation.
Here’s my experience after just having returned from that time away.
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