The Calgary commercial real estate market is always changing and shifting, and trying to follow every twist and turn wouldn’t be a good use of your time. Instead, make sure you have a great commercial realtor® on your side, and he or she will make sure you’re looking at the right properties for your business needs and getting a good rate on your lease or purchase.
How Closely do You Need to Follow the Calgary Commercial Real Estate Market?
Because Calgary commercial real estate affects so many other parts of the Alberta economy (including employment rates, interest on business loans, available inventory, etc.), it isn’t unusual to find commercial real estate news on the front pages of lots of local papers. That’s good news for a Calgary commercial realtor® like me, but what if you are someone who is thinking about leasing or buying property in the future? How much attention do you have to pay to the Calgary commercial real estate market then?
This isn’t just a hypothetical question. Because new construction, leasing terms, and changes to buildings or zoning are regularly featured in the business press, you could easily spend half your day looking at various news items and trying to see how they might impact your company’s financial future.
Since most of you don’t have that kind of time, here are two things you need to know:
It’s a good idea to know the basics of Calgary commercial real estate. The more you know about what’s going on, in general, the better sense you’ll have of what kinds of rates you’ll have to pay for different types of spaces, which parts of the city are doing well, and so on.
Beyond that, a good Calgary commercial realtor® can help you with the details. Once you have a good overall picture of what’s happening with Calgary commercial real estate, a good realtor® can help you fill in any gaps and give you strong advice on leases and locations. There’s no reason to obsess over the details – you just have to have someone on your side who can do it for you.