You’ve successfully navigated the turbulent waters of purchasing your first commercial property. You’re several years in and business is booming. Bravo! You know you need more space but want to research what happens when you buy a bigger building. Taxes and depreciation and profit all come into play but how? We aren’t lawyers or tax accountants, but we have assisted hundreds of clients with this type of transaction. If you are seeking a simple overview before you dip your toe in the water, we’ve got you! We will cover the basic concept of a 1031 Tax Deferred Exchange (1031), the
Read more →Congratulations! You’re finally ready to buy your first commercial property. You’ve chosen a superstar buyer representative that specializes in your sector of commercial real estate, zeroed in on the perfect location, and checked the zoning to make sure your business is a permitted use in the area. Your broker told you that finding a property could take 6 hours, 6 days, or 6 months so rule number one is be prepared. Rule number two is patience. There are dozens of steps along the way to move-in day, so let’s focus on one that will make your future property ownership more
Read more →There comes a time in every business when a company’s spatial needs shift. Your physical footprint may need a change for a number of reasons. The business may have grown or shrunk, you may have had an increase in clients, or perhaps it’s time to retire. If you are leasing a property, the exit process is relatively simple. You can wait out the remainder of the lease term, ask the landlord to relocate you to another space within the commercial complex, sublet the space to another user, or assign the lease to the new owner of the company. If you
Read more →Your business has outgrown your building. Employees are sharing offices and the restroom is stacked sky high with storage. The property manager is complaining that your workers are using too many parking spaces. You’ve had it with leasing, it’s time to take the plunge and buy a property. The search begins, but your broker informs you that there are no, and I mean no, properties that meet your requirements. Now what? Luckily you chose a commercial broker who knows how to work her magic to make your office ownership dream come true. Just because there are no buildings listed, doesn’t
Read more →Recent trends have shown a surge in corporate headquarters, regional branches, and other companies, relocating to business-friendly states including AZ, FL, NC, TN, and TX. These moves are maxing out commercial vacancies in all sectors including retail, industrial, and despite the post-pandemic work-from-home craze, even office. With fewer buildings for sale, business owners are seeking to buy land and build their company vision, but they can’t always make the numbers work. Landowners see an opportunity to ground lease land and reap an annual income versus selling it. There are pros and cons of ground leases for both the landowner and
Read more →Picture this. After months of searching for the perfect property for your business, you find it and it checks all your boxes. Chances are that another business owner feels the exact same way. So how do you make your offer stand out? Fortunately, there are a few things you can do to increase your chances of closing the deal. Here are a few suggestions. Know the Area Prices vary based on location, improvements, updates, and lot sizes. Familiarize yourself with price trends in the area you’re looking to buy in. This prepares you in advance for what to expect from
Read more →As the economy rebounds from the pandemic-induced recession, it’s very apparent that prices across all goods and services are rising rapidly. And with inflation at a 40-year high, it’s understandable to feel anxious about the future. In fact, the Consumer Price Index (CPI) climbed from 2.5% to nearly 8% in just the last year, the largest inflationary jump the U.S. has seen since 1982. Fortunately, for those invested in commercial real estate assets, inflation can actually be a good thing. Here’s why. While inflation can hurt intangible investments, it can provide a unique hedge for well-diversified investors. Property owners often raise
Read more →With the power of the Internet and an influx of real estate technology at your fingertips, you may be asking yourself, why do I need to hire a buyer representative? While buyers can surely benefit from consumer-facing real estate apps and national websites to get a jump start on the process, they do not replace the expertise of a top-notch buyer rep who knows local market standards, can hone your property parameters, and help manage the search process. Experienced buyer reps understand your market. They’ll advocate on your behalf throughout negotiations and help you navigate a beneficial property purchase for
Read more →Selecting the right commercial broker to sell a commercial property is one of the most important decisions you’ll make before signing on the dotted line. The real estate industry is full of brokers, and surprise! They aren’t all are created equal. Here are tips to hire a commercial broker that best suits your needs. 1. The Interview No matter how long you’ve owned the property you’re selling, you’re putting a lot of trust in a broker to make sure they sell the property for its full current value. To evaluate which broker is right for the job, interview several brokers
Read more →Plan as you might, a business owner never knows when they will find that perfect fit for their business. Take me for example: I found my dream office space while attending a listing presentation with a property owner. I fell in love with a clean yet outdated 2,050 square foot tri-plex office condo built in the 1980’s and immediately saw potential for what I believe will be the coolest office ever. Moral of the story? Stay open-minded and consider all possibilities. It’s normal for you to have a wish list for your dream property. You may even have an idea
Read more →