Real estate is expensive. Yet, for business looking to startup as well as those that are looking to expand their operations can find good deals on property that meet their needs. Even if a price tag looks hefty, whether that means leasing or purchasing commercial real estate, effective negotiation can set the stage for success. It can ensure that the property in question is functional, not overly restrictive, cost-effective, and beneficial for supply and consumer accessibility.
Oftentimes, those who are pursuing commercial real estate have to be creative in their approach with an eye on repurposing existing infrastructures. Very rarely is a business going to find a property that fits their needs exactly. After all, changes often have to be made to fit equipment needs, accessibility, and even a business’s style. It looks like online giant Amazon is in that process now as they vet a property in the greater Baton Rouge area.
According to reports, Amazon is looking to take ownership of the Cortana Mall, which will soon be vacant, with hopes of converting it into a regional distribution center. If the deal goes through, the 1 million square foot space will be utilized to better serve Amazon’s customers in Louisiana and Mississippi. Amazon may be lured to the property for more than just its size. After all, the Cortana Mall is relatively close to the airport, located near the highway, and has plenty of parking for commercial vehicles.
If Amazon does end up acquiring the Cortana Mall, it is likely that it will have to make significant changes to the property to meet its needs. Yet, as with many commercial properties, it is about seeing potential and seizing upon it.
However, the commercial real estate industry can be deceiving with sellers looking to capitalize on property with values that have been inflated. This is why due diligence and well-thought negotiations must be undertaken before taking on a commercial property. Experienced legal professionals often prove beneficial in successfully navigating this process.