Commercial real estate and business transactions can be exciting opportunities with many complexities. However, sometimes even with careful planning, business and commercial transactions can result in conflicts and disputes. Commercial real estate transactions and commercial real estate disputes can include many challenges, as can any business transactions ranging from the protection or exposure of trade secrets to the sale or purchase of goods.
A shopping center in Baton Rouge was recently purchased by two dentists for $3 million. A Baton Rouge realty company made up of two husband-and-wife dentists purchased the shopping center from a New York company. The shipping center encompasses 11.2 acres and has a number of tenants, including grocery, hardware and others. The couple's realty company notes it maintains a portfolio of greater than 600,000 square feet of office and retail space.
Land use laws can have an impact on the operation of your business or acquisition or development of new land. As a result, residents of Baton Rouge may wonder what zoning laws refer to, which is an important question to ask. Zoning laws refer to the regulation of the use and development of real estate. In general, zoning laws are used to divide communities into real estate sections including residential, commercial and industrial sections which typically do not overlap, though they can in mixed-use sections, which are developed in a fairly uniform manner.
Commercial real estate transactions are a common part of business growth. As an example, one need only look at a Baton Rouge non-profit planning to build an $18 million assisted living facility. To construct the building, the non-profit recently acquired 4.4 acres. The 68,000 square foot assisted living facility will have 90 units, 48 of which will be for assisted living and 42 for residents with Alzheimer's Disease and dementia.
Zoning essentially refers to a set of laws that determine how certain property can legally be used. Property owners can obtain zoning information from the city concerning their property or can obtain a zoning verification letter for property, with certain exceptions, within the East Baton Rouge Parish.
This blog recently discussed the exciting potential commercial real estate transactions can hold for expansion and growth. Commercial real estate transactions present exciting opportunities but it also pays for parties to the commercial real estate transaction to be sufficiently familiar with the process. A number of different factors can result in a real estate transaction ending up in a real estate litigation situation. To avoid an unwanted real estate litigation situation, it is important to understand the many aspects of a commercial real estate transaction up front.
Growing and expanding is commonly viewed as a positive step in the life of a company. A furniture company recently purchased a 13.13 acre piece of land in Baton Rouge for $3 million. The company plans to build a furniture store at the location. The purchased land is approximately one half mile from the company's current store where it has been leasing a 55,000 square foot building. The company acquired the lease when it bought out a furniture store at the location is currently occupies. The lease expires in 2016. It is possible that another retailer will lease the 55,000 square foot building.
The commercial real estate closings process can seem daunting, however, knowledge of the process and the proper guidance throughout the process can help make it more manageable and successful. At times, caution and special diligence are required which is why it is important to be familiar with the complete process prior to embarking on a commercial real estate transaction.
Understanding a purchase agreement is important when selling your business. Understanding the purchase and sale agreement helps the parties know what to expect, what to negotiate and what expert guidance may be needed.
Commercial real estate and construction projects provide excitement and opportunities for local areas. A new construction project promises to add to the Baton Rouge skyline. The headquarters of the Water Institute of the Gulf will be newly situated on the Mississippi River. The building will comprise 33,000 square feet, including an interpretive gallery, exhibits, research labs, offices and meeting rooms. The marketing director for the commercial real estate trust developing and managing the Water Campus noted that the goal was to create an iconic structure for the Baton Rouge skyline. Area leaders note it will aid in the revival of the downtown area.