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Tight industrial market calls for compromise from buyers, tenants

The lack of inventory in Saskatoon’s industrial sector is further stymied by the type of properti...

The lack of inventory in Saskatoon’s industrial sector is further stymied by the type of properties which are available.

Many industrial users have needs that simply can’t be met by older product.

This is not the time to get picky with a 2.5 per cent industrial vacancy rate in Saskatoon. Certain priorities have to be met, though.

These items may include ceiling height or compound component as they can’t be added to the property.

Tenants and buyers who require these elements must consider what is available and what they can or cannot live without.

Office build-out or installing additional loading accessibility, for example, might not be part of the initial budget but may have to be reviewed against what is actually available.

There is certainly new product under construction which may offer more possibilities, but not all users can wait.

Location, location, location

Perhaps there is an opportunity to consider where the business needs to be located.

In the case of Saskatoon, the majority of industrial product, with the highest range of options, would be north of Circle Drive.

However, there are definitely pockets of industrial-zoned properties in the southwest, southeast, Sutherland and Regional Municipality of Corman Park.

This is where the want-versus-need discussion continues.

Is it vital or simply convenient to have a location in a certain part of city?

Use your imagination

Industrial users can be the toughest occupants on their properties, so sometimes envisioning how a property could work is difficult.

A little inventiveness can pay off in the long run, if a spiff-up can be done economically.

Minor construction costs can be worth it if the property checks the boxes in critical areas that can’t be adjusted.

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