Commercial Property & Real Estate News

Staging Your Commercial PropertyIn real estate, staging is the act of dressing up a property so that it looks its best. Staging is usually a term that people hear in the residential real estate market. Wright County homeowners are told that staging a property can increase profits by about $2,000, but little is said about commercial real estate. Property owners are left with the question, should they stage their commercial property just like homeowners? Is there value in staging? The short answer is yes.

The Value of Staging

Buyers who purchase commercial real estate shop with their eyes, just like home buyers. When they note the condition of a building, commercial property buyers make some of the same assumptions that home buyers make.

This is to say, buildings that

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How Timber Is Changing the Commercial Real Estate IndustryTimber has been making a rather big splash across the commercial real estate industry due to a number of changes in both industry and public demand. New lamination methods make it possible to use wood in large commercial projects (even skyscrapers), edging out more traditional options like concrete or steel.

In addition to the technology advancements, timber has environmental benefits that many are hoping can serve as an answer to our current crisis. It can cut down on building's carbon footprint by up to 60%. And while it's not quite taking the world by storm just yet, it's certainly a trend to watch in the next few years.

A Look Back in History

Timber is usually associated with the quaint cottages of yore, mostly because it didn't take

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Planned Redo of a Period Movie Theater Honors Old TraditionsAn upcoming renovation of the Suburban World Theater in Minneapolis is right in sync with what's happening across the country. Savvy investors and developers are capitalizing on a growing trend to capture the bygone elegance and traditional appeal of the silver screen era in a high-tech age.

There's a twist, however. Rather than trying to resurrect the glory days of film, the new owners hope to recapture the grandeur of the architecture to wow audiences at a new event venue. The new theater will also allow live performances at the period movie house which debuted in the 1920s as The Granada, and operated as a theater until 1999, when the last film was shown.

Since then it has seen a variety of incarnations, including a stint as The Cinema

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Staying Fit While On the Road Is Easier than Ever BeforeHealth and fitness are big business all over the world. Business travelers as well as vacationers are as likely to pack workout clothes and running shoes as business suits and casual attire. At the beginning of the 2018, more than 4,000 fitness pros identified 10 fitness trends they believed would dominate the scene for the coming year. Among them were some surprising choices.

Top Fitness Trends for 2018

The annual survey conducted by the American College of Sports Medicine, included responses from professionals in 41 countries across the globe. Here are the results, in order of response frequency:

  1. High-Intensity Interval Training, workouts that generally are 30 minutes or less in duration
  2. Group Training and Fitness Classes
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Rising Costs of Commercial Construction Worry Real Estate InvestorsAt a time when the economy seems strong, apartment and condo developers are trying to balance growing demand against the rising prices of steel and lumber and the dearth of trained tradesmen. Record low unemployment numbers nationwide contrast sharply with record high number of unfilled jobs in many cities across the country. Labor shortages are especially worrisome for the construction industry.

The New Normal?

Market strength signals more than a classic good news-bad news scenario, according to many industry observers. It may, in fact, be the new normal, one that is going to require an innovative approach if the demand for new apartments and reasonably-priced housing is to be addressed in American cities. This is a change from last year, in

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State and Local Incentives Abound for Corporate RelocationsIn light of Amazon's much-publicized city search, municipalities and regions across the country have begun to reexamine the tax incentives and other perks that are appropriate in an effort to attract new business. Deal-making has positive long term benefits for many communities, but there are also some downsides. What are some of the pros and cons of business enticements, and just how much is too much?

Moving a corporate headquarters or opening a major new facility is a major undertaking, no matter how the effort is measured, one that often spans years of planning, negotiation and decision-making. Costs can be staggering in terms of both dollars and disruption, and a relocation frequently affects corporate culture and employee morale in much the

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Future Workplace Changes Stem from Millennial Generation PhilosophyThe rapid expansion of the Millennial workforce globally, particularly in the United States, has produced a series of changes in business philosophy that could not have been envisioned two decades ago and was, even more recently, not totally acknowledged.

Today, it is evident that these younger, more demanding employees who now constitute the largest single age group across all industries, are the catalyst for change that will have a lasting effect on the economy, the workforce and even the design of buildings and factories. It's based in technology, but it's not only the online presence that is noticeable.

What Millennials Actually Want

Much has been written about the new generational need for "life-work balance." Baby boomers had more

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New Technology Tools Will Change the Face of Commercial Real EstateIt's obvious that the diverse field of commercial real estate—development, design, management and sales—is changing rapidly, influenced by emerging trends in business and technology that have an effect over a broad spectrum of industries. This new reality may initially be disruptive, but there are changes in store that will affect all aspects of real estate business.

Newer technology innovations will influence all asset classes of commercial real estate, according to a recent article in Forbes, including workspaces and shopping centers, distribution centers and offices. Retail operations have been most affected to date, perhaps, as evidenced by the growth of online ordering, but change is pervasive across the field.

While disruption is

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Wealthy Chinese Continue to Buy U.S. Real Estate for InvestmentFor the fourth year in a row, the U.S. tops the list of favored destinations for a sizable number of wealthy Chinese individuals who wish to leave their country. Ireland and Canada placed second and third, respectively.

The statistics are interesting: 224 Chinese nationals with an average net worth of $4.5 million were surveyed. Seventy percent of them already have foreign assets, primarily property, accounting for approximately 11 percent of their wealth, with a consensus among respondents that foreign investment at about 25 percent would be desirable. Education and the environment top the list of concerns for those considering emigration, according to the Hurun Report, released on June 30, 2018. Strict Chinese government controls in China are

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Adaptive Reuse of Older Buildings Adds Value to NeighborhoodsDistinctive buildings, from decaying warehouses to abandoned churches, have become trendy targets for new development throughout the country. Many of them require extensive redevelopment, but they often have unique characteristics that promise opportunities for specialty leasing. In addition, in some areas entire neighborhoods full of distressed and underused properties are ripe for modernization and for what today is termed adaptive reuse.

It's a real estate niche that requires timing, creativity and commitment. The upside is that, at least in some locales, municipal governments and planning and zoning officials are thoroughly supportive of private efforts and, in some cases, are willing to partner with private owners and developers in

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