Commercial Real Estate Report

It’s time for another entry once again on real estate and drafting.It’s about the year end and I would like to get this off my chest if I can.November has come to us once again and I would like to talk a bit about real estate in Calgary.It has to do with commercial real estate which is located in the NE of the city.I just read that they are going to refurnish or renovate Deerfoot Mall.Now I haven’t been to the mall in ages nor have I been there.I have been to almost every shopping mall in the city.I have been to Chinook Center many times.I have been to Market Mall,Sunridge Mall,SouthCentre Mall and other shopping centers but I have yet to go to Crossiron Mills near Balzac which has opened in either 2011 or 2012,one of those years.I have yet to go there and see the shops.

But overall,I think that there will be a very big demand for commercial retail in the future especially in shopping malls because there will be more people coming to Calgary to do a whole lot of shopping and other things.But what I really want to see is Deerfoot Mall since I haven’t been to that mall yet.Anyway,Chinook Centre has done with their expanding because they have already opened some new stores last year especially with that department store which has replaces Sears. Nordstrom replaced Sears since Sears filed for bankruptcy protection sometime ago which has caused them to cut its entire workforce and close a couple of their stores. Nordstrom,I wonder how they are going to do when they are there.Hopefully they do well since they seem like a pretty good company.

Now,I had just taken a picture of that renovated KFC which has been finished and I was going to post it on this site but I will post it next year since I had to get this news out about the commercial real estate market.The residential market has been going strong in Calgary since oil money has been the difference and other things.But commercial real estate has been taking off in recent weeks especially in areas where residents live since most companies which have been operating downtown are finding out that they’re paying a lot of money in rent downtown causing them to move their business operations into the residential areas.Next year in 2015 we might even see more business make this move since office rent in downtown Calgary is high.

Anyway,that’s all for this entry and this blog for the year.I will be back but in the meantime,have yourselves a very Merry Christmas and all the best in 2015.

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