Midtown Common erases all signs of Sears

“I think we’re eating in linens right now,” I said casually to my mom recently.

We were taking in the tastes offered by Midtown Common, the new Midtown Plaza food court located in the Sears vacancy.

Any semblance of the historic retailer, however, has all but disappeared.

The shopping space has been replaced with exposed concrete and a modern look.

Basically everything Sears wasn’t.

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Do I have a deal for you

There are many real estate investors who wish they’d just got into a market before a boom.

Appreciation of real estate investments has made many people wealthy over time.

For those willing to take the risk, the reward can be real.

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When time is not on your side

A focus on deal timelines are a necessary evil in our commercial real estate world.

They are the thread that binds conditional lease and sale transactions.

But what happens when issues arise beyond your control that negate those agreed upon timelines?

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What does economically empowering women look like?

Specifically speaking, it depends on where you live on this earth.

Globally there are still approximately 2.7 billion women restricted from doing the same jobs as men.

But that’s not necessarily true in North America, right?

Okay, how about this more relatable fact: only 5 per cent of the Fortune 500 companies have female CEOs.

When we look at the general workforce, approximately 63 per cent of women (aged 25-54) participate in the labour market; that compares to 94 per cent of men in the same age category.

The statistic doesn’t tell us where those 37 per cent of women are or why they aren’t participating but it certainly highlights the imbalance between genders.

So it’s agreed, there is still some work to do.

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What to know before you buy a business

There are important elements to consider when reviewing a business with the intent to purchase.

Taking the time complete a thorough investigation is critical to discover the hidden facts.

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Sage advice for the entrepreneur

As I looked into the eyes of a classroom of entrepreneurs last week I wondered what wisdom I could impart.

My first thought was, good on you. You’ve found a passion and you want to share it with the world!

My secondary thought was, awesome, here comes a commercial real estate agent ready to deflate all your hopes and dreams.

I jest.

But I have heard this comment before, so let’s get it out in the open and have a chat about it.

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A solution to YXE downtown office vacancy

As reported in our first quarter Saskatoon office survey, we currently have over 400,000 SF or 16.7 per cent vacancy in our Saskatoon downtown competitive office market.

Those numbers do include the vacancy within River Landing’s 185,000 SF East Tower which is nearing completion.

The numbers do not however reflect 40 per cent of the space yet to be leased within the 300,000 SF Nutrien Tower which has just recently started construction.

Once that additional vacancy is accounted for, we will be reporting core area vacancy in excess of 20 per cent.

Saskatoon’s office market is in transition.

The demand for new Class “A” inventory is coming from users already present.

There are not enough new tenants entering the market and the “flight to quality” is projected to continue.

Let’s talk solution.

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When not to buy commercial real estate

There are times when it is not wise to invest in commercial real estate.

Alternatively, many potential investors don’t take the plunge out of fear of the unknown and years later regret it.

Let’s look at some examples of when you’d be advised not to purchase.

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New Saskatoon arena given priority

The original Saskatoon downtown arena, nicknamed The Barn, opened in October 30, 1937 on a site overlooking the river. The building began to show its age in the 1970s but the last hockey game took place February 2, 1988 (a week before SaskPlace opened). Clinkskill Manor, a low income seniors highrise now sits on the former arena site.

In a city projecting another deficit year, it might seem strange that Mayor Charlie Clark has decided to lay down a mandate for a new downtown rink.

But Clark has recently declared that a site for the new arena will need to be chosen before the end of 2019.

What’s the big rush?

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