Commercial Property & Real Estate News

You don't have to have an established marketing team to successfully sell your commercial property. With one knowledgeable real estate professional and a smart strategy, you can attract buyers and make a profit from the sale of your commercial real estate - with a great commercial property marketing plan. Whether you're new to the game or an old pro, these tips can help you sell your property quickly and to the highest bidder.

1. Make a Plan

Do research before listing your property for sale. Who are your customers, and what are their expectations? Where are they? What will they like about your property, and what will they want changed? How much do similar properties cost? What can you do to make your property more desirable? How long can you

Commercial properties rely on good landscaping in many ways. Landscaping improves the appearance of the property while making it more user-friendly for customers and workers. Landscaping is also essential for curb appeal.

If you're planning to sell your commercial property sometime in the next year, not only should you consider staging a vacant commercial space, but it might be time to install new landscaping. Updated landscaping can make your property easier to sell, thus increasing your profit.

Most plants look best after they've been given a chance to become established and thrive in their new location, so the earlier you can get started on this project, the better.

Install Low-Maintenance Plants

Most business owners have little time to

A landlord is only as good as their property management company. A good company will keep tenants happy, effectively screen new tenants, and will ensure that all properties under their care are in good condition.

If the company you choose does not treat your tenants or properties well, business will suffer. It's vitally important to choose a company that has a good reputation and sound business practices. The following 6 tips can help you choose a property management company that will benefit your properties.

1. Get Referrals

You probably know property owners in your area. Ask someone with good judgment which property management company they use. Find out why they like that company, what they would change about that company (if anything), and

Summit Hotel Properties recently sold off six hotels for $135 million, resulting in a net gain of $36.6 million. One of their properties was the SpringHill Suites by Marriott, located at the Mall of America. The numbers for this sale are impressive, with an EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) multiple of 12.8 and close to 7% capitalization rate.

However, there's a lot more to this story than just the group's net gain from the sale. In fact, Summit Hotel Properties has seen some dips in their stock price that are worth taking note of. Whether an investor holds one property in Hennepin County, Minneapolis or several across the US, there are a few lessons to be learned from this sale that can be applied to

Commercial real estate in Minneapolis/St. Paul has long been rooted in tradition. Even as technology popped up all over the country, the industry didn't rush toward it en masse. This is understandable, given that office workers and builders have a very different relationship with technology. The Twin Cities are starting to see more adaption of technology in the industry though, even if not everyone is moving at the same pace.

A variety of new tools are converging to smooth out the many wrinkles that pop up along the way of a project. From builders to developers to agents, investors may want to learn more about how new tools are changing the mindsets of those in the industry, and how these changes will affect future pricing and sales.

The

The possibility of a high return on an investment is a reason why some choose to get into commercial real estate. Minneapolis may be a great area to invest in to attract professional tenants that can create a steady income for an investor, as well as other incentives, including the possibility of new opportunity zones.. When reviewing the types of Minneapolis real estate available, how inviting is it to own office space in or near Minneapolis? Is now the right time to buy an office building? Understand more about the demand for office buildings in the commercial real estate market of Minneapolis today.

Investing in Office Buildings

Low, mid and high-rise structures can fall under the office building asset class. Compared with other asset

According to all pertinent statistics, downtown Minneapolis continues to grow - in a healthy way. Since 2006, the population has increased 56 percent; more than 205,000 employees fill downtown jobs. Last year, the city welcomed 33 million business and leisure visitors, for a total of 2,301,040 hotel room nights occupied.

A whopping 80.7 million rides were recorded by Metro Transit, with another 53.3 million rides recorded on city buses. Expansion is planned for both light rail and bus routes. Nearly 40 percent of the city's office space is within the central business district, and nearly 460,000 square feet of Class A office space was absorbed in 2018 alone. For the seventh straight year, the value of building permits topped $1 billion.

The

Minneapolis scores high on the list of top-ranking environmentally friendly cities in the U.S., capturing sixth place on a list compiled by CommercialCafe. But, what exactly does that entail, and what does it say about future development?

More than half the world's population had migrated to cities by the year 2007, a turning point in world history. By 2030, based on United Nations estimates, two-thirds of the world will call a city home. Cities are, by their very nature, energy hogs. The need to supply apartment dwellers and office workers with their future needs involves new kinds of energy and services at all levels. Electricity and water consumption, of course, are the first to come to mind, but transportation, waste removal, building and

Finding a balance between forward-thinking renovation and historic preservation at the former Dayton's flagship store in downtown Minneapolis hasn't been easy. Now, nearly two years after the store closed and ambitious redevelopment plans were unveiled, progress still seems slow. However, the developer, Chicago-based Telos Group, is unfazed by the delays.

The interior construction that will create a massive interior multi-story atrium is imminent, but so far the work that has been completed is hardly noticeable to anyone passing by. Although the plan was always to retain the historic exterior of the iconic century-old Dayton's store, interior space is due for massive updates. To date, however, the alterations have been largely behind the

Prospecting, or lead generation, is key to success in many fields, but building a contact base is especially vital in commercial real estate. Whether an agent specializes in helping investors buy and sell commercial properties or in property management on behalf on an owner or investor, tenant prospecting is the key to ongoing effectiveness. It represents a way to build legitimacy and expertise, and is also a valuable means of gaining referrals that lead to future business. However, prospecting is not a part-time effort, and it requires diligence and consistency.

Basics of Prospecting Success

Prospecting techniques are not difficult to master, but they may sometimes seem redundant. It's important to be aware of market trends, but it's equally