07-28-2021, 12:39 PM
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#1
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THE Chuck Storm
Join Date: Mar 2004
Location: Calgary
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Commercial Leasing
Our office lease is up at the end of September and we are on the search for a new commercial lease.
Honestly, we haven't had a good experience with commercial brokers (our first office lease resulted in the sub-leaser not knowing we were moving in on moving day )
Commercial Leasing seems like a secret, hidden in a shroud, wrapped in an enigma and I have no idea how it works. Especially now since there's nearly 14,00,000 SQFT of unused commercial space in the city - it seems like there'd be some great rates out there, but I have no idea where to start and find them.
We don't need a lot of space and don't have a huge budget - where should be start?
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07-28-2021, 12:43 PM
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#2
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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Where do you want to be?
Do you need anything special and/or specific?
I am not a professional Realtor in any respect, I merely have a PhD in Forestry, but I have done this a couple of times myself.
__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
If you are flammable and have legs, you are never blocking a Fire Exit. - Mitch Hedberg
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The Following User Says Thank You to Locke For This Useful Post:
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07-28-2021, 12:44 PM
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#3
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Franchise Player
Join Date: Apr 2004
Location: Calgary
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Start with messaging J pold - I think he can help point you in the right direction.
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The Following 3 Users Say Thank You to I_H8_Crawford For This Useful Post:
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07-28-2021, 12:45 PM
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#4
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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Quote:
Originally Posted by I_H8_Crawford
Start with messaging J pold - I think he can help point you in the right direction.
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J Pold is a magician, he has helped me out a lot over the years.
__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
If you are flammable and have legs, you are never blocking a Fire Exit. - Mitch Hedberg
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The Following 2 Users Say Thank You to Locke For This Useful Post:
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07-28-2021, 12:57 PM
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#5
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Franchise Player
Join Date: Dec 2006
Location: Calgary, Alberta
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Quote:
Originally Posted by La Flames Fan
Our office lease is up at the end of September and we are on the search for a new commercial lease.
Honestly, we haven't had a good experience with commercial brokers (our first office lease resulted in the sub-leaser not knowing we were moving in on moving day )
Commercial Leasing seems like a secret, hidden in a shroud, wrapped in an enigma and I have no idea how it works. Especially now since there's nearly 14,00,000 SQFT of unused commercial space in the city - it seems like there'd be some great rates out there, but I have no idea where to start and find them.
We don't need a lot of space and don't have a huge budget - where should be start?
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First, the disclaimer that I'm not a commercial realtor.
But regarding the bolded, there are great deals. As soon as you're actually interested though, those deals are out the window. That's my cynical view on things.
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The Following User Says Thank You to Slava For This Useful Post:
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07-28-2021, 02:27 PM
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#6
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THE Chuck Storm
Join Date: Mar 2004
Location: Calgary
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Quote:
Originally Posted by Locke
Where do you want to be?
Do you need anything special and/or specific?
I am not a professional Realtor in any respect, I merely have a PhD in Forestry, but I have done this a couple of times myself.
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Not too far from the action - central-ish. Right now we're right around Chinook and that's been a good spot.
Nothing too specific either, except great internet in the area. It's really just for our edit suite and a couple other spaces for gear and collaboration.
If we ever get into the timber business I'll definitely know who to call, that diploma of yours speaks volumes.
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07-28-2021, 02:30 PM
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#7
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THE Chuck Storm
Join Date: Mar 2004
Location: Calgary
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Quote:
Originally Posted by Slava
First, the disclaimer that I'm not a commercial realtor.
But regarding the bolded, there are great deals. As soon as you're actually interested though, those deals are out the window. That's my cynical view on things.
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I've had that same experience. Feels like market lease rates should be pretty close to zilch, but lo and behold they haven't changed much? In a city with 30% vacancy?
Yikes.
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07-28-2021, 02:57 PM
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#8
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Franchise Player
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Feel free to shoot me a PM if you'd like some help.
I promise I'll keep the real estate broker sleaziness to max 3/10.
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The Following 4 Users Say Thank You to J pold For This Useful Post:
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07-28-2021, 07:00 PM
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#9
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Atomic Nerd
Join Date: Jul 2004
Location: Calgary
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I talked to J pold before and he definitely kept his realtor sleaze dialed down
Our company just switched offices as well to some shiny new space to take advantage of the market and it makes a difference.
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07-28-2021, 07:03 PM
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#10
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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Quote:
Originally Posted by J pold
Feel free to shoot me a PM if you'd like some help.
I promise I'll keep the real estate broker sleaziness to max 3/10.
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Look here sir....you've helped me out a lot and I think you're wonderful. Both as a commercial realtor and as a human.
But...come on, lets be real, we're talking a 4? 4.5 Max?
__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
If you are flammable and have legs, you are never blocking a Fire Exit. - Mitch Hedberg
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The Following User Says Thank You to Locke For This Useful Post:
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07-28-2021, 10:04 PM
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#11
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First Line Centre
Join Date: Feb 2013
Location: Field near Field, AB
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For a lot of the commercial space, which is big downtown floors, the investment companies tax break versus renting out for less then marker or cap rate is an ongoing challenge. They'd prefer to have it valued low and not pay city taxes and operating.
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The Following User Says Thank You to calgarywinning For This Useful Post:
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07-28-2021, 10:31 PM
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#12
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Crash and Bang Winger
Join Date: Jan 2012
Location: Salmon Arm, BC
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Quote:
Originally Posted by La Flames Fan
I've had that same experience. Feels like market lease rates should be pretty close to zilch, but lo and behold they haven't changed much? In a city with 30% vacancy?
Yikes.
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Landlords have the opposite logic though in that the vacancies actually justify higher than market rates. When so many units are empty, they need higher rates from occupied units to make up the lost revenue.
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