Savvy business owners know that the commercial property they secure for their endeavors can make a world of difference. It can give a business visibility, accessibility to both consumers and suppliers, and further the business’s practices. Yet, finding the right commercial real estate is no easy task.
While many of these properties are expensive, they also usually come with certain restrictions that can affect its viability. Those who fail to recognize these deficiencies and work to remedy them can find themselves saddled with a lot of debt and a commercial property that is difficult, if not impossible, to offload or utilize.
One developer appears to have done some legwork in the Baton Rouge area to ensure that a property he seeks to purchase can meet his needs. According to reports, the developer is looking to build a single-tenant retail space near the Pennington Biomedical Research Center off of Perkins Road. Before that development can occur, though, it must be rezoned so that it falls into the “light commercial” category instead of its current restriction as a “transition” property.
The developer claims that he has been working for several months to get the project off the ground, although he isn’t releasing any details at this time. The rezoning matter was scheduled to be heard by the Planning Commission. If it passes, then the Metro Council will have to approve the rezoning before construction can begin.
Commercial real estate issues arise with more frequency than many people realize. Although they may seem ancillary to other business law issues, the outcomes of these matters really can make or break a business. This is why individuals who are dealing with commercial real estate matters should think about consulting with an attorney to best ensure that they are protecting their interests as fully as possible.