Altus Group has recently released its 2022 “Canadian Property Tax Rate Benchmark Report,” which provides some interesting stats.
Although Saskatoon and Regina both raised commercial tax rates, with Saskatoon increasing by 3.3% to $16.15 and Regina by 2.74% to $17.14, Saskatchewan’s costs are far below the national average.
The raw data for our 3Q22 market reports have been compiled, and the findings are fascinating.
The four main categories, downtown and suburban office, retail and industrial sectors, have seen positive absorption since the last quarter.
I firmly believe that the most crucial job a leadership team has is to design and implement strategies to see the organization grow and flourish in the long term.
About four years ago, we completed the soft rebrand of ICR.
We didn’t set out to significantly alter our corporate image and logo, but we knew we needed a refresh.
As brokers, landowners engage us to provide an opinion of value on development land.
At the same time, those landowners often offer, what is believed to be, comparable land sales within close proximity to the subject property.
What they may not realize is that there could be a whole back story to that supposed comparable land sale that render it incompatible as a sale comp.
The markets are pricing in five, quarter point interest rate increases in 2022 which will result in commercial mortgage rates ranging between 4 to over 5 per cent.
What will be the consequences of this increase to the commercial real estate investment market?
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.
I can’t handle reading any more news on how the pandemic has decimated the economy.
If you know my background, you aren’t surprised that I have a lot opinions about how media is operating these days.
Overstating the obvious isn’t making anything better, I liken it to reporting on the umpteenth snowstorm this winter.
So I am on a personal mission (at least this week) to report only on the uplifting stories despite the pandemic!
It’s interesting to see the similarity that has been revealed between Regina and Saskatoon through ICR’s latest Market Update.
The difference in vacancy rates between the two cities, in this sector are less than 10 basis points.
You must go back to 2010 to find similar strength in absorption of vacant industrial property.
Rumours of the impending demise of the Canadian Toys “R” Us stores has been swirling since their U.S. parent filed bankruptcy in September 2017.
At that time it wasn’t widely understood that the Canadian stores were separate of this filing and, in fact, somewhat profitable along with the other 1,600 stores around the globe.
News of a recent sale of the 81 Canadian stores speaks to the long-term viability of the toy retail franchise.
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.