Calgary commercial realty company Bedrock Realty was recently featured in the May 2017 issue of Business in Calgary magazine. Below is the article, or see it for yourself in the online version of the magazine here.
A recession like the one Alberta has experienced over the past few years can devastate industries, communities, and corporations. It’s important to have advisors who understand the cycle and can help clients weather the storm. John Savard of Bedrock Realty Advisors is one of those resources.
In the 14 years that he has been working as a commercial and office realtor in Calgary, Savard has seen it all.
“I’ve seen a few different markets going from a balanced market to an extreme landlord’s market to a tenant’s market and back again. Now we’re fully in a tenant’s market,” he says.
That’s great news for Savard’s clients. He specializes exclusively in tenant transactions, eliminating the conflict of interest some competitors encounter when representing both sides of the coin.
“We believe we can only serve one master. We feel we can offer the best services to our local tenant clients because we don’t have anyone else’s interests at heart,” he says.
With the downtown vacancy rate sitting at around 25 percent, there is an immense amount of office space available and tenants have their pick. Savard uses his expertise and experience to ensure clients are getting the best deal possible regardless of what they need.
His clients fall into one of three categories: those seeking lease renewals, those looking for a new space or those subleasing. And in a recession market, early renewals are a great way to help clients improve their own bottom line.
“You don’t want to waste the opportunity that exists in a recession,” he says. “Now is a time to create significant value for your company by getting a much lower lease rate.”
Savard and his team at Bedrock have been successful in helping clients negotiate early lease renewals with landlords. By blending their current, likely higher, lease rates with ones more indicative of today’s market, clients enjoy an immediate reducction on in their real estate costs while landlords keep tenants in their buildings for an extended term. While rates will likely rise in the near future, the low rates are a great opportunity for Bedrock Realty’s clients today.
Over the past 14 years, John Savard has helped hundreds of tenants negotiate their perfect commercial space, establishing him as one of the top performing commercial brokers in the field. And as Calgary climbs out of this recession and grows stronger, thanks to his guidance and expertise, Savard’s clients will be stronger too.
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