As 2018 comes to an end, we wanted to quickly reflect on our past year of blogging. With 50+ more articles under our belt, we’ve now written over 250 blog posts about Edmonton’s commercial real estate market. In the past couple weeks we also added an option to subscribe to receive our posts automatically (either weekly or monthly) and we released our free eBook: Leasing Commercial Real Estate in Edmonton. We were also honoured to have been recognized this year as a Top 40 blog in Edmonton and a Top 50 commercial real estate blog.
Of utmost importance, we want to thank you for making this blog what it is today. We would not have made it nearly this long without your support, comments, feedback and shares on social media. We genuinely appreciate you taking the time to read our thoughts and opinions, no matter how crazy they may be from time to time.
For our last post of 2018, we’re highlighting our top 5 articles most viewed articles of the year (in order):
1. For Sale: Stantec Tower? – It’s fascinating that our most popular article of the year was about the potential sale of the soon-to-be-completed tallest building in Western Canada. Perhaps people were intrigued with the potential sale of a brand new, class A office tower. Or perhaps it was just a large juxtaposition from the 4 office towers that sold in 2017 for a $163M loss. It illustrated the dichotomy in Dickens’ A Tale of Two Cities: ”it was the best of times, it was the worst of times…”
2. There’s a New Big Dog in Town – Choice Properties REIT bought Canadian Real Estate Investment Trust (CREIT) early in 2018, making it one of the largest REIT’s in Canada. We were sort of surprised this one was as popular as it was. Must have been the killer click-bait headline.
3. Edmonton Office Tower Sells for $400 Million – While the sale represented a very large number, we’re still surprised that the optics of this transaction haven’t come under more public scrutiny. After all, this was a sale where the developer (Katz Group) received significant public funding to develop the nearby arena, then in turn constructed this building with the City of Edmonton as the main tenant, to then sell it to a government pension fund. That’s a lot of tax payer funding at work.
4. Construction Project Update: Whitemud & 75th – Edmontonians are curious to know more about the large construction project happening on one of the most prominent corners in south Edmonton. While that corner might have been better utilized for a commercial development (one which would also pay property taxes), the building will be an operations and maintenance facility for the Valley Line LRT.
5. Amazon Will Save Millions of Dollars by Locating Outside ofEdmonton City Limits – this was our article from last week and stirred a bit of controversy. We estimated the values of five large buildings located in municipalities outside of Edmonton and showed how taxes are nearly $7 million less than they would be if they were located within Edmonton. Amazon, for example, will save over $1 million / year by locating on the border of Leduc County and Edmonton City limits.
We try to write on topics we feel are timely, relevant and of general interest but we fully acknowledge that blogging can be a challenging endeavour. While we dedicate a lot of time to research and writing the blog, we are painfully aware that most articles fail to get any traction. And we’re fine with that as we earnestly enjoy the art and science of writing. Staying on top of recent trends, news and economic factors is something we would do anyways. In short, we would happily write a blog post if even a single person were to read it.
That’s why we greatly value each and every single visitor to our site and we thank you for coming on this journey with us. We truly hope you get some value from our blog and we look forward to providing Edmonton commercial real estate news and market information in the upcoming year.
Happy New Year and all the best in 2019!
Chad, Ryan & Darcie
Chad GriffithsPartner, SIOR, CCIM
Chad is a partner with NAI Commercial Real Estate and focuses on the Greater Edmonton area. Chad entered the industry in 2004 and has completed over 400 commercial transactions with clients ranging from small, local companies to large institutional owners. Chad has been a top 15 producer with NAI Canada-wide since 2013.
Ryan BrownPartner, BCom, SIOR
Ryan is a partner with NAI Commercial Real Estate in Edmonton and is currently ranked nationally as one of NAI's top advisors. Having executed in excess of $100 Million worth of sales transactions and over 2 Million square feet of lease transactions, Ryan has developed a firm understanding of asset evaluation and an aptitude for building design, functionality, and long-term practicality.
Darcie is a licensed Commercial Real Estate Agent in the Province of Alberta with a focus on the Edmonton market and its surrounding areas. Darcie accomplishes custom solutions for her clients through her personable nature and results driven attitude. Darcie can help if you are looking to invest in commercial real estate or are looking for representation for a sale or lease transactions.
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