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The Saskatchewan Edge
Kelly Macsymic Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate
Barry Stuart Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

Saskatchewan industrial vacancy rates lowest in a decade

Barry Stuart Commercial Market Trends Saskatchewan Nov. 16 2021
It’s interesting to see the similarity in industrial vacancy rates in Regina and Saskatoon that has been revealed in ICR’s latest market update. The difference in vacancy rates between the two cities, in this sector, is less than 10 basis

Preparation is vital for hard-to-place CRE tenants

Kelly Macsymic Commercial Brokers National Nov. 8 2021
Commercial real estate landlords differ from their residential counterparts in that they can be much more picky in who they rent to. This isn’t necessarily a reflection of discrimination toward any type of tenant, however. Landlords need to understand or

Should you hire a broker to negotiate your lease renewal?

Barry Stuart Commercial Brokers National Oct. 28 2021
Some landlords believe they can renew their tenants at the same rental rate 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,

Advice from the business trenches

Kelly Macsymic Commercial Human Resources National Oct. 13 2021
The North Saskatoon Business Association (NSBA) hosts an annual event called Lessons I’ve Learned to which they invite local business leaders to share their journeys. There are takeaways every time I attend. Sometimes the ones that resonate the most with

How to de-risk your spec CRE build

Barry Stuart Commercial Development National Oct. 4 2021
As a brokerage, we track existing and new developments in each commercial sector and thereafter advise clients when and what to build. For this discussion I’m going to focus on the Saskatoon industrial market. We are always communicating with prospective

The evolving conversation on open office

Barry Stuart Commercial Design National Sep. 20 2021
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

Every toy (store) has a story

Kelly Macsymic Commercial Shopping Centres National Sep. 2 2021
Rumours of the impending demise of the Canadian Toys “R” Us stores have been swirling since the company’s U.S. parent filed for bankruptcy protection in September 2017. At that time it wasn’t widely understood that the Canadian stores were separate

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

Barry Stuart Commercial Buying and Selling National Aug. 16 2021
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 /

Your space is a reflection of your business

Kelly Macsymic Commercial Property Management National Aug. 10 2021
Have you ever entered a business that turned you off so quickly you couldn’t wait to exit? This happens all too often in the retail and service industries. What message is your space presenting to potential clientele – that “customer

Saskatoon’s industrial, retail and office vacancy rates all decline

Barry Stuart Commercial Market Reports Saskatchewan Jul. 26 2021
We’ve just released our Q2 2021 market surveys and all three commercial real estate sectors are reporting reductions in vacancy. Remarkable statistics considering the economic storm we’ve been passing through! It appears our resource-rich economy is only going to continue

There are some pandemic practices we should make permanent

Kelly Macsymic Commercial Property Management National Jul. 15 2021
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

Buyer beware of often onerous commercial mortgage process

Barry Stuart Commercial Buying and Selling National Jul. 5 2021
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

Vacancy does not equate to desperation

Kelly Macsymic Commercial Market Trends National Jun. 22 2021
It’s easy to get skeptical about leasing commercial real estate with all the media reporting business doom and gloom during the pandemic. Well, I’m here to tell you not only is there rising hope on the horizon, but things aren’t

Surprisingly little correlation between interest rates and cap rates

Barry Stuart Residential Buying and Selling National Jun. 3 2021
Any discussion on cap rates needs to be prefaced with a cautionary note.  That is, there are many factors that determine capitalization rates on a commercial real estate investment. Those factors include but aren’t limited to age and condition of

Losses mount, so Prairieland Park to repurpose Marquis Downs site

Kelly Macsymic Commercial Redevelopment Saskatchewan May. 31 2021
Administration at Saskatoon’s Prairieland Park has disclosed it has endured ongoing losses at its Marquis Downs horse racing facility of over $500,000 annually during the five years prior to the pandemic. With no place to relocate, this will effectively end

Agents need to stay in their own real estate sandboxes

Barry Stuart Commercial Buying and Selling National May. 20 2021
In many larger jurisdictions, commercial brokers focus on one asset class such as office, industrial or retail. They do that because they know that to service their clients, it’s necessary to have a high degree of knowledge in one area.

Premier Moe’s plan to reopen Saskatchewan for business

Kelly Macsymic Commercial Government Saskatchewan May. 13 2021
Saskatchewan Premier Scott Moe is optimistically eyeing reopening our province (again) to business despite some of our neighbouring provinces tightening down. As much as I strongly believe safety is a high priority, I also believe salvaging our economy is just

Liken your commercial real estate portfolio to a fleet of ships

Barry Stuart Commercial Buying and Selling National May. 3 2021
Have you ever found yourself in a situation where you believed that it was in the best interest of someone you know to plan for change, but failed to convince them of your belief? Sometimes thoughtfully framed stories can be

City of Regina takes heat for land transaction

Kelly Macsymic Commercial Transactions Saskatchewan Apr. 20 2021
Regina city council was publicly criticized last week for a land sale it is engaged in with an undisclosed buyer. Some of the outcry is from adjacent property owners who may, or may not, have had use for the land

Saskatoon sees largest industrial vacancy drop in a decade

Barry Stuart Commercial Market Reports Saskatchewan Apr. 9 2021
While we saw quarter-over-quarter decreases throughout 2020, the drop in Saskatoon’s industrial vacancy during the last three months has exceeded my prediction for the entire year of 2021. The industrial sector has seen a net absorption of almost 150,000 square

Three important lease renewal tips for commercial tenants

Kelly Macsymic Commercial Brokers National Mar. 12 2021
Renewals in commercial leasing can be almost as important as securing a lease in the first place. There is quite a bit of finesse to this process. First piece of advice: don’t leave it up to your landlord or property

Density can’t come at the expense of massive property devaluation

Barry Stuart Residential Market Trends National Mar. 5 2021
Cities are becoming increasingly aware of the need to densify. The infrastructure costs of suburban sprawl are not recoverable. No one is prepared to pay the real costs which are imposed upon most city services by the continued expansion of

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