Transitioning from renting a commercial space for your business to owning one can be a risky and even scary step. Right now, as we begin to roll out of the pandemic, there is the possibility of obtaining an office space for a very good price than just a short time ago. So if you have been saving up or have the funds to do so, now just might be a good time to purchase a commercial space all of your own.
As many industries are seeing a downturn caused by the recent worldwide pandemic, real estate investors with cash on handstand to benefit from purchasing properties at lower prices. Good investors know there are investment opportunities to be had, but wise investors are also aware of possible hiccups that could arise while seeking out and purchasing these properties.
The current pandemic has caused many things to shift and change, some overnight. With these changes comes the need for a new way of doing things to stay in business and prepare for the future. Here are some tips on how commercial real estate investors can get through this rocky time.
In the ever-changing world we live in many commercial real estate spaces have begun to change and adjust to keep up with the demand of certain business types. One such industry that has seen a change in the type of space that is being sought after is the hotel industry. Here are some new features hotels are looking to incorporate into their spaces as demand changes:
In the past few years there has been an increasing demand for warehouse spaces, and because of that an increase in the number of warehouse and storage units being built. Though there are many companies looking to lease warehouse space currently, it is still important to provide a warehouse that is appealing to potential tenants.
Over the last decade or so the self-storage sector of commercial real estate has seen a significant amount of growth in sales. In just the last five years self-storage facilities have seen an 80% increase in sales.
The majority of self-storage space is still owned by small business owners at an estimate of 74%, but larger companies and real estate investors have taken notice of the growth and demand in the market and are now getting on board to add self-storage spaces to their portfolios.
Recent research conducted by commercial real estate services firm Jones Lang LaSalle presented at ICSC’s RECon (the largest gathering of retail real estate professionals in the world), has found that 40% of mall customers choose the mall they want to shop at based on the food options at a particular mall.
A very common question when it comes to commercial real estate inspection is what is a Phase 1 inspection, and do I really need one? Phase 1 refers to an environmental assessment of the property; the full name is Phase 1 Environmental Site Assessment. Phase 1 is also commonly referred to as an ESA or Phase 1 ESA. A Phase 1 is conducted to find the current and historical uses of a commercial property in the process of a commercial real estate sale. The reason for the Phase 1 ESA is to determine if any of the former or current uses for the commercial property have had impact on the soil or groundwater underneath the land resulting in a concern for the environment or human health.
The business world is quickly changing more and more every day. Walking into a brick and mortar place of business no longer looks like it did just a few years ago, and that is because of the IPO. IPO’s have grown in popularity over the recent years. An IPO is an Individual Private Office. It is a shared office concept offering the lease of small spaces from about 100 to 1000 square feet with a variety of shared amenities.
Purchasing land for commercial development can be a more detailed and complicated process than most people realize when they are doing so for the first time. If you are considering purchasing land for commercial development there are some important things you will want to know and ask yourself during the process.
There are many different and great reasons that we clean our homes and businesses, but one of the most important of those reasons is to sanitize and keep us from getting sick. Unfortunately, there are many cleaning mistakes we make on a daily basis that could be putting the people inside our homes at harm. Find out some of the most common and potentially harmful cleaning mistakes below.
As in residential real estate inspections, a commercial property should have inspections as well, especially if you're purchasing not only the building or business but the land as well. A commercial inspection is slightly different than a residential inspection and should be handled by a qualified commercial inspector.
Are you looking to list your house or property soon? You might want to take a gander at these most common and useful tips for selling.
Purchasing commercial real estate is much different than purchasing a business. If you are looking into buying commercial real estate with a working business resident chances are you will be purchasing just the building and will have no affiliation to the business that uses it. Here are the differences in purchasing commercial real estate vs. buying an actual business.
Trying to sell a home can be difficult and selling a commercial property is even more so. If you are selling a commercial property you may face a long wait before getting any offers, but here are some tips for getting your offer accepted.
There are a lot of ways to make money in real estate, investing is just one of them. But, did you know there are more self-made millionaires in real estate than any other industry? The most common type of real estate investing is the "buy and hold" investing tactic. Being a landlord is what most people think of when investing in cash flow income and real estate. The idea is to have a monthly cash flow over time and gain equity in the property while making money on it as you go.
Which is better? A single-family home investment or multi-family property investment? Both have pros and cons, advantages and disadvantages but there are some great benefits to a multi-family investment than a single-family home investment. From our experience here are some of the great benefits of multi-family property investments.
There are many commercial investment advice sources out there that tell you never to purchase a commercial property based on its potential to bring money in. The safer and more concrete way to invest is in a commercial property currently performing well.
Technological changes and rapid growth over the past 15 years have changed the definition of an office, especially in the world of small business. An office is not so much a desk,
More and more companies are opting out of the formal meeting room with
Contrary to common belief, once you’ve found the perfect commercial space, your journey isn’t over. Finding the space is the first step to having a successful business, the second step is to create a space that keeps customers/clients coming back for more. While each individual business will have
Commercial Real Estate as a whole is a whole different ball game than the purchase and sale of a home. Entrepreneurs are often ready to move forward with the sale without checking for a few key components that could lead to detrimental mistakes for their business. While there are dozens of different factors to consider such as what maintenance issues will need attention to either build or maintain your building, what demographics and other market features will change, what funds and materials you will need to have immediately available to get started, etc. There are a few key things to understand and be aware of when purchasing commercial real estate.
For those of us who don’t purchase commercial real estate, we have this idea that the only people who purchase commercial real estate are high-end businessmen and woman who wear tailored suits and carry around briefcases. Well, let me be the first to tell you that this isn’t always the case. Now, of course, there are recurring business transactions when it comes to commercial real estate, but there are also first time buyers who are trying to figure out the process just like you or I would be.
Whenever we make a big investment we always like to know the outcome is going to be not only
There are many great things about purchasing a retail commercial space as a way of generating more income for your business. Here is a quick guide about buying commercial retail space: the benefits, what to look for, and financing.
There are many different areas of expertise in the real estate field, but the two most broad or common real estate fields are commercial and residential. Here are the distinct differences between commercial and residential Realtors®.
The closing process of a commercial real estate transaction looks a little different than smaller more common residential purchases. Any real estate purchasing process can seem overwhelming and full of paperwork, legalities, and terms that could have anyone’s head spinning. This article will help to lay out the steps of the closing process in a commercial real estate sale so you are prepared and ready for what to expect in your commercial real estate purchase.
When you venture into the world of business
In the world of commercial property, purchasing a
You have found a great commercial property for your next business venture, but it is going to need some renovations to get it into shape before the grand opening. You
If you're choosing the right location for your next business, many factors come into play including cost, remodeling costs and of course, location. You want to choose a location that provides optimal exposure to your potential customers. This may or may not be a location that is on the main street but the destination location of long as your business provides ample satisfaction to the customers once they arrive. Businesses such as retail shops, boutiques
Millennial's, those are people currently between the ages of about 18 to 30, born between the 1990s and 2010. Currently there the focus of many real estate agents, blog posts and real estate targets. Anything about commercial real estate and are they involved in investing?
A commercial loan modification, also known as a "workout" loan can be requested by a business owner who is unable to refinance the loan. If the business has undergone a hardship or had other occupational or operational problems and cannot make their loan payments, a modification may be an option to prevent the loan from going into default.
Have you started or are you planning to start a new business, but you need a place to run this business out of and your home just won't do? You thought about renting but, what if you could also build equity from owning a commercial property?
The recent real estate market rebound has now allowed for investors to sell their private equity funds and has created a secondary market for partnership interests.
Both tenants and even real estate professionals misunderstand the measurement of office space square footage for rent purposes. The way to find out the amount of rent in most office leases uses both usable square footage, plus the tenant's proportionate share of common areas in the building.
In a recent article by the Wall Street Journal, there's been a surge in commercial real estate prices, which has caused some real estate financiers to be worried about the housing bubble. This demand for commercial property has been compared to the boom of the
Millennials or Gen-Y, those born between 1980 and 2000, who are now between the ages of 18 to 34, number around 75.3 million. This surpasses those Baby Boomers (now aged 51 to 69) who number 74.9 million. How do we keep this new larger generation happy when talking commercial real estate?
When it comes to commercial real estate, how do you decipher the best properties and what separates the great deals from the not so great?
Check out the seven tips below for evaluating a good commercial property deal: