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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

New Saskatoon arena gets priority from city

Kelly Macsymic Commercial Government Saskatchewan Apr. 12 2019
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. However, Clark recently declared a site for the new arena will need to

Mixed signals in Saskatchewan industrial sector

Barry Stuart Commercial Market Reports Saskatchewan Apr. 5 2019
There are three significant numbers I’m looking at to determine the sentiment of the industrial real estate market in Saskatchewan. One of those numbers is positive, and two illustrate we have yet a way to go before we’ve fully recovered.

Budgeting for success in Saskatchewan

Kelly Macsymic Commercial Government Saskatchewan Apr. 2 2019
Last week, Saskatchewan’s Minister of Finance Donna Harpauer released her second budget, which projects a $34.4-million surplus for 2019. Thinking selfishly, I wondered: how does this budget impact commercial real estate sale investment in our province? The good news story

High-density spot zoning can create homeowner hardship

Barry Stuart Commercial Redevelopment National Mar. 21 2019
I purchased my second single-family home in 1979. It was located at the end of a quiet cul-de-sac in a good neighbourhood. The downside was it backed onto a retail strip mall. That wasn’t a concern for me, however, because

Wasn’t there a Chili’s here yesterday?

Kelly Macsymic Commercial Shopping Centres Saskatchewan Mar. 14 2019
The Regina Leader-Post published an article in 2008 with Stu Rathwell, a franchise partner in the new Regina’s Chili’s Grill and & Bar. Stu shared that his Saskatoon location would be open by that year’s end. His optimism about the

Payless: Another bricks-and-mortar obituary

Kelly Macsymic Commercial Strategy National Mar. 5 2019
Entrepreneurs Louis and Shaol Pozez could not have anticipated 63 years ago that their discount shoe business would be taken down by a network of computers. This isn’t a story from the rejected piles of Terminator franchise spinoffs; this is

Saskatchewan’s commercial property taxes below average

Barry Stuart Commercial Taxes Saskatchewan Feb. 21 2019
I thought twice about writing this post! Does it risk raising the question with the city administrators: are our Saskatoon and Regina commercial property taxes too low? Or does it showcase just one more of the many benefits of setting

Differences between regional and national CRE brokers

Barry Stuart Commercial Brokers Saskatchewan Jan. 22 2019
If you had asked me a few years ago about the long-term fate of independent commercial real estate brokers, I would have honestly expressed some uncertainty (you may be thinking, “But Barry, you are an independent commercial real estate broker

How close was my 2018 Saskatoon industrial vacancy forecast?

Barry Stuart Commercial Market Reports Saskatchewan Jan. 10 2019
I promised I’d hold myself accountable for this January 2018 post forecasting industrial vacancy in Saskatoon, and report back to you. So, how did I do? At that time, I predicted a decline in the overall Saskatoon industrial vacancy rate from 7.7

Retail was king in Saskatoon for 2018

Kelly Macsymic Commercial Development Saskatchewan Jan. 7 2019
There were substantial changes to the commercial real estate landscape in Saskatoon during 2018. I think it’s is a story of renewal and growth. Would you agree? Sears Canada officially called it quits and closed the doors on its Saskatoon

If it’s not -30C for a week or more, things just aren’t right…

Barry Stuart Commercial Saskatchewan Jan. 3 2019
I am often accused of twisted thinking when I voice this inner paradigm, and am therefore going to use this space to convert you to a liberated view of our Saskatchewan winters! Awakening early to an announcement on my radio

The 12 Days of a CRE Christmas

Kelly Macsymic Commercial Brokers National Dec. 21 2018
“On the first day of Christmas my broker sent to me . . . A qualified tenant for occupancy On the second day of Christmas my broker sent to me . . . Two executed leases And a qualified tenant for occupancy On

Real estate as a business investment

Kelly Macsymic Commercial Strategy National Dec. 6 2018
All commercial real estate deals have a factor of uniqueness which sets them apart from other investments. That said, there can be times when commercial real estate is not only a real estate investment but also a business sale. Multi-family

A ‘discretionary use’ is just that: It’s no slam dunk

Kelly Macsymic Commercial Government Saskatchewan Nov. 26 2018
Whether you’re buying or leasing commercial real estate, a municipality’s zoning bylaw tells you where you can locate your business. The City of Saskatoon bylaw lists permitted uses and prohibited uses, which are pretty straightforward by definition. A discretionary use, however,

10 questions to ask if you’re considering a career in CRE

Barry Stuart Commercial Labour National Nov. 20 2018
You might be in your last year of university and considering your career options, or have just come to the realization that your current professional path is not going to be your life work. The idea of a career in

Does Saskatoon need a daily Farmers’ Market?

Kelly Macsymic Commercial Shopping Centres Saskatchewan Nov. 8 2018
The City of Saskatoon has officially put out a tender to lease the Farmers’ Market building in Riversdale. The facility is currently leased to, and operated by, the Saskatoon Farmers’ Market Co-operative Ltd. In its original agreement to lease the

Sask. cities enjoy lowest CRE to residential tax ratios

Barry Stuart Commercial Taxes Saskatchewan Nov. 6 2018
There is lots of chatter on the street with the recently released preliminary budget from the City of Saskatoon, which proposes a 4.5 per cent property tax hike in 2019. That chatter is incomplete without stepping back and looking at

Successful first year for Saskatoon’s Remai Modern

Kelly Macsymic Commercial Downtown Saskatchewan Nov. 1 2018
Say what you like about it, but more than 450,000 people fed their curiosity and took in Saskatoon’s new public art gallery, the Remai Modern, during the past year. That’s more people than comprise the proper City of Saskatoon population

Saskatoon industrial vacancy drops in Q3 2018

Barry Stuart Commercial Market Reports Saskatchewan Oct. 23 2018
Our quarterly market reports have just been released and we’re pleased to report the overall industrial vacancy rate is heading in the right direction! The increase in absorption over the last quarter has resulted in just over a 50-basis point

New Horizons idea failed miserably . . . or did it?

Kelly Macsymic Commercial Development Calgary Oct. 11 2018
Have you ever stumbled onto one of those websites that features abandoned spaces? My favourites are old malls . . . once a bustling retail centre and now so neglected. But what if you were looking at a vacant mall that was

The relationship between cap rates and interest rates

Barry Stuart Commercial Strategy National Oct. 4 2018
Earlier this week, I forwarded a client some historical data on Saskatoon commercial real estate capitalization rates. He came back to me with the comment, “Would be interesting how it (cap rate information) trends with interest rates.” Sophisticated investors absorb data

What’s an ideal amount to invest in commercial real estate?

Barry Stuart Commercial Investors National Sep. 20 2018
For the purpose of this conversation, let’s assume you are sitting on cash or liquid asset(s) and have decided to invest a portion of your available capital into commercial real estate. What factors need to be considered to make a

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