Kristen Boen: 701.340.5592
Duane Peterson: 701.240.3660

 

Overpaying for an Apartment Building Could Get you a Real Estate Steal

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.

Rentable Shared Office Space is a Growing Market

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, leather covered chair and four walls anymore, it is now pretty much anywhere there is an internet connection. A large percentage of today's entrepreneurs and small business owners work on the go. Being able to connect anywhere you are through smart devices and wifi allows for more productivity and availability without being chained to a desk.  

Common Office Spaces are Winning Over Clients

More and more companies are opting out of the formal meeting room with long rectangular table and chairs for a more relaxed approach, the common space. These common spaces are simply less-formal areas to hold meetings.

How to revamp your new commercial space in and around Minot

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 it’s own unique feel and some revamp tips could fit seamlessly in one business and seem out of place in another, there are a few simple things you can do to help keep your space fresh, clean and professional. Even in the most professional business, nobody likes to walk into an office that is solid white walls with no personality, this can make people feel uncomfortable and unable to open up easily. When there are personality pieces, especially in businesses, it allows customers/clients/tenants to feel more at ease and enjoy their experience in your commercial space to it’s fullest.

Mistakes to Avoid when Buying Commercial Real Estate

 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.

The Things you need to Know When Buying Commercial

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.

Finding the Perfect Commercial Property, and What You Need to Know

Whenever we make a big investment we always like to know the outcome is going to be not only profitable, but that our investment will be a successful endeavor. When purchasing commercial real estate there are multiple factors that go into choosing a property that is sure to help your business be all that you’ve dreamed of. Even with the constant rise and fall of the economy and real estate costs continually climbing, it has proven that entrepreneurs are still better off purchasing property instead of renting them. Here are a few tips to finding, buying, and maintaining the perfect commercial real estate property.

How, Why and When to Purchase Retail Space

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.

Differences between a Residential and Commercial Realtor®

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®. 

Closing Process Looks Like in Commercial Real Estate Purchases

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.  

Deciding Whether to Lease or Buy Space for Your Business

When you venture into the world of business ownership there are a number of decisions to make. One of them being where you will operate from. While some businesses can easily be run from a home office others may need a little more space. Or maybe you have been doing very well and need to move to a larger space outside of the home. Whatever the reasons for finding the best space to operate your  business from you will want to decide whether to lease or purchase the office space you need.  

Self Storage is Becoming a Popular Commercial Real Estate Investment

In the world of commercial property, purchasing a self storage facility does not seem as glamorous as owning a brand new office building, or a fun shopping mall. Though owning a self storage establishment  does not seem like a fantastic and fun commercial investment, it is actually quite a solid way to invest your real estate dollars.  

How to Roll a Commercial Loan in with a Construction Loan

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 of course will need to finance the whole project from the purchase of the building to the construction costs to fix it up. Wouldn’t it be great if you didn't have to take out two separate loans in order to finance everything?  

How to Buy a Business or Chose the Right Location for a Business in Minot

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 and restaurants typically need the exposure of a well-traveled street or road in order to get pastor buyers to stop and come in. Businesses such as manufacturing or wholesale industries may not need this type of exposure and most people will try to the location when needed.

What do Millennials think of Commercial Real Estate Practices.  

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?

Can I Modify a Commercial Mortgage or Loan?

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.

Can I Use a Grant to Buy North Dakota Commercial Property?

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 doYou thought about renting but, what if you could also build equity from owning a commercial property 

The Secondary Market for Private Equity Funds is Growing

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.  

Soaring Commercial real estate demand

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 mid-2000's.

Millennials and Commercial Real Estate - Minot ND Commercial Real Estate

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?

Seven Tips for Making a Great Deal on 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: