Commercial real estate can apply to large-scale or small-scale projects. Technically, the defining factor that distinguishes commercial real estate from residential real estate is what the purpose of the property will be. Will it be used for living or for conducting business? If it's the latter, then it qualifies as commercial real estate.
For some businesses, their business doesn't revolve around the average consumer. Instead, many businesses serve the needs of other businesses. Whether offering a product or a service that a business needs to conduct their everyday work efficiently, it's a legitimate business model. While many consumers do not engage in contracts with the business they buy from, businesses may want to consider a contract for their agreements with other businesses.
Baton Rouge is seeing and will continue to see, some revitalization to two well-known towers in downtown. Best known as the 'Chase Towers,' these buildings have been a staple in Baton Rouge commercial real estate since the 1960's and have been home to many businesses and corporations over the years. Since the buildings have some age, they have fallen into a place where renovations and repairs are needed. The new owner of the south tower (also the current owner of the north tower) claims to have a plan to spend in the 7 figures to revitalize the building.
Do you know the value of your business? This can be a difficult question to answer, especially when trying to pin it down to an exact number. Since businesses are always changing and the landscape in which they operate is too, it can feel like a floating number. There are a few ways to help determine an actual value for your business.