A bank recently purchased land in the Baton Rouge area to build a branch at the location. The lot was purchased by the bank for $550,000 and is located at an intersection. The bank plans to immediately begin construction and hopes to be open by the end of the year. The bank will place a full-service branch at the location. The bank recently filed for a public offering of its stock, is currently building a branch in the area and plans to open three branches in the Baton Rouge area over the next three years.
Commercial real estate transactions may not only be limited to the real estate transactions but can also include zoning laws, real estate land use and construction issues. This can include many parties and considerations, including government entities and regulations and requirements. It is important when approaching a commercial real estate transaction to have a thorough understanding of the process, challenges and solutions to any challenges that may arise.
The goal of any commercial real estate transaction is the successful completion of the transaction and project. To ensure this, it is important to plan ahead and carefully address important considerations involved to minimize any potential problems and problems in the future. Should problems arise, it is important to address them promptly and effectively.
Evaluating a commercial real estate opportunity can benefit from a thorough understanding and knowledge of everything from contract negotiations to the real estate market. Armed with that knowledge, the goal of a successful transaction and project can more easily be met.
Source: The Advocate, “Investar buys land for Prairieville branch,” Timothy Boone, May 31, 2014