A plan to sell commercial real estate across from the Louisiana Capital may have run into a roadblock with the recent news that the property was appraised nearly $2 million less than Governor Bobby Jindal had hoped. Governor Jindal had hoped to generate approximately $5 million in the sale of the building in downtown Baton Rouge, which previously housed an insurance company. Unfortunately for the plan, the newest appraisal put the value of the location at $2.8 million.
In order to grow and expand, it's often important for a business to find the right location, have the right supplies and have clients willing and ready to buy their product or service. Sometimes, however, the right commercial real estate may not be available for purchase by the business from its owners. In these situations, other real estate transactions can be negotiated to suit the needs of all parties, such as a lease agreement.
When a business decides to incorporate or expand, one of the considerations that must be taken into account -- particularly for retail -- is location. And it's one thing to simply find a location but another thing entirely to complete a commercial real estate transaction in order to acquire land and/or buildings that will be needed.