A joint-venture is moving full-steam ahead in Fort Lauderdale's marina district to serve as a place to host commercial tenants. The scope of this project is rather large and involves three companies in a joint-venture deal. The companies are based both locally and nationally, and together they hope to bring revenue to the area with their approval for a $16.6 million construction loan. This project came about after the property was re-zoned for commercial use.
If your business is looking to expand for the first time, you may never have paid attention to the buying process before. There are terms associated with different types of sales and they are in place in hopes of making note of important differences in different types of commercial property sales. While they aren't as common as residential homes, some commercial properties for sale are "short sales" or "foreclosures."
One of the important steps of a commercial real estate transaction in Florida is ensuring that the person or business buying or building the property has what is called "clean title" to the property. In a nutshell, clean title means the one who buys the land does so without having to worry about the claims of another party, including other purported owners, holders of easements and lenders or creditors with unsatisfied liens on the property.
When Florida residents think of real estate, they think of buying a home to live in or shop to run. However, for many people, real estate is an investment, whether it is a residential real estate or commercial real estate. In fact, many people may already be investing in residential real estate, but adding commercial to the portfolio can help balance it out. However, there are some differences between the two types of real estate to keep in mind when making decisions to invest or not.
Businesses and investors alike often find themselves in the commercial real estate market. For businesses in South Florida, the commercial property will be used as retail locations, office buildings and warehouses, among other uses. Expanding companies need space for their staff and inventory, as well as a place to sell their goods and services. Investors, on the other hand, usually buy commercial real estate in order to turn around and sell it off for a profit. They might keep their eye on an area with growth potential for years, hanging on to a piece of property in order to sell it at just the right time to maximize profits. But, for companies and investors, making a purchase of commercial real estate may be getting more difficult.
Businesses and investors have all kinds of assets to track. Among the most important assets they own is commercial real estate. In South Florida, commercial property can be a valuable commodity, from office buildings to warehouses to retail locations. The local area is growing, and both residential and commercial property can be valuable assets in the current market.
Our readers may have seen several of our previous posts here that examine the differences between the commercial real estate market and the residential real estate market. In South Florida in particular, the differences have been stark for the last several years. Since the depths of the housing crisis nine years ago, the residential real estate market in South Florida has, for the most part, rebounded nicely. The commercial real estate market, on the other hand, has lagged behind. But, is the market for commercial property finally catching up to the residential market?
It is common for many people in South Florida who are involved in the real estate market to think of residential property and commercial property completely separately. After all, a person who is looking for a new home probably isn't too worried about the values and uses of nearby commercial real estate, and vice versa, right? Well, according to a recent news story, that separate thinking may be coming to an end.
When South Florida readers think about real estate, they probably envision property that they purchase to make their own. Whether it is a new home or piece of commercial property that will be used for business operations, both residential and commercial buyers are usually approaching the real estate market with this frame of mind. However, can Florida residents get into the commercial real estate market with investment in mind?
When a business owner in South Florida is making a move toward purchasing commercial real estate, there can seem to be an endless flood of issues and problems. However, that does not always have to be the case. If a real estate transaction for commercial property is conducted properly, the buyer may actually experience quite a smooth process. Whether it is the purchase of an office building, industrial property or a retail location, many buyers will encounter issues related to taxes and escrow funds no matter how smooth the purchase is.