As the landscape of the Baton Rouge commercial area continues to change, another multi-million dollar deal has landed. A Parkland-based company as agreed a site-assemblage of the development of a soon-to-be upscale shopping center. Many of these plans have been hitting the ground running as of late. These retail areas have modern updates and are nothing like the large-space shopping giants of mini-mall past.
A well-known Baton Rouge area franchisee has reportedly sold 26 McDonald's restaurant locations to a different investor. Franchises are a great way to become a part of a larger business opportunity that allows for investment and growth in a more well-known brand or company.
Franchise opportunities can be excellent business opportunities, but it is important to know how to approach them and get answers to all of your questions beforehand. Franchising can offer less control than if the entrepreneur owns their own business. A franchise refers to a business model in which the owner of a business sells the rights to their business model, name and logo to an entrepreneur to use.
Once the entrepreneur has decided on franchising, it is both necessary and important to conduct their due diligence. To begin with, the entrepreneur should obtain a Uniform Franchise Offering Circular which will include reports about the franchise's legal, financial and personnel history. It is also necessary to ensure the franchisee understands the rules and regulations associated with the franchise and the type of help them will receive.
Commercial real estate has seen its fair-share of changes in the Baton Rouge area in the last year. With consumer trends pushing for e-commerce-based amenities and convenience, the average brick-and-mortar retailer continues to be affected. Just in the last year, large retail stores have been cutting back commercial real estate space all over the country, including those in Baton Rouge. What does this mean for commercial real estate space in Baton Rouge?
Part of a healthy economy for a city is a blend of businesses, both large and small, to service the area and create revenue, jobs and an economic infrastructure. Baton Rouge is no exception to this and is home to many businesses, both small and large. The mayor wanted to give more equal access to both types of businesses for commercial projects and other similar bids the city seeks for project. That's why the city is releasing a list of city projects in advance.
There has been lots of revitalization in the Baton Rouge area over the last several years. Both residential and commercial real estate has seen an uptick. This includes the recent sale of Goodwood Village Shopping Center, originally designed by the renowned Baton Rouge architect, A. Hays Town.
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.
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.
When two or more parties come together and agree to do business or to partner together to achieve common goals, the entire process from start to finish can seem somewhat intimidating. Sometimes, parties in a commercial real estate transaction have little to go on at first, sometimes, just a smile and a handshake. This is especially true if looking to begin a project related to the development or construction of commercial real estate. When the agreement begins to take shape, there are a number of measures a party can take to protect themselves in these situations.