Commercial real estate opportunities are all around which is why those interested in a purchase or a sale, should be familiar with the process. A shopping center in Baton Rouge was recently purchased for over $4 million. A Baton Rouge entity purchased the 14,398 square foot shopping center for $4.075 million. The shopping center is comprised of 3 stand-alone buildings, a stand-alone restaurant and 2 strip mall shopping centers. It was built in 2000 and is near an office development and surrounded by neighborhoods. The shopping center boasts national, regional and local tenants.
According to the representative for the buyer, there are currently no plans to change the retail mix of the shopping center and it was targeted as a good investment for the buyer because of its location. Commercial real estate involves many different moving parts and many different, yet equally important, considerations. When considering a purchase or a sale, there is a lot to take into account to help ensure the transaction is as successful as possible.
It is important to understand how to conduct all necessary due diligence and to know how to negotiate either a purchase or a sale, depending on what side of the transaction the buyer or seller is on. It is also important to be familiar with how to write up a contract that accurately reflects the agreement of the parties and protects them and their concerns. Additionally, when conducting a commercial real estate transaction, it is useful to be aware of the options available if something does go wrong.
A smooth commercial real estate transaction can be made possible by fully understanding the legal resources available to guide either the buyer or seller through the process of completing a successful transaction. Making the most of a commercial real estate opportunity is important so it helps to be familiar with the tools available to help make that a reality.