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Paramount

Real Estate Tip of the Week-9.27.2018

Have you ever wondered why operating expenses vary from property to property?  Energy consumption, service levels and service contracts can vary greatly so it is advisable to secure the details prior to lease execution.
Several recent office lease transactions Paramount has been involved in highlight the need for a close review of a property’s operating budget.  Some “full service” leases may include daily cleaning, vacuuming, replacing light bulbs and cleaning your breakroom. And then others may not include these services at all or the services may be on a more limited basis.  While most Property owners reserve the right to change rules and regulations and janitorial specs, it is a good practice for your representative to take the time to request the budget and janitorial specifications.  Once you have the detailed information you will be better able to compare properties.   After settling on your most desirable property, a close review of the associated lease language may uncover conflicts or missing details that might surprise you during your term.  As an example, say your employees prefer to eat lunch in your office suite, this practice probably makes it imperative that janitorial specifications would include daily trash service.  No one wants to smell that reheated salmon the first time let alone the rest of the week!
Knowing the service level upfront will allow you the opportunity to verify the details are incorporated into the final lease.  After all, operating expenses and real estate taxes can be 50% or more of your overall rent and you should only be paying for services you receive.
Need real estate advice.  Call Paramount.
TRUSTED.  DEDICATED.  EXPERIENCED.
(952) 854-8290

TCN Worldwide 7th on NREI 2018 Top Ten Broker’s List

TCN Worldwide is honored to be named once again in the Top Ten of the National Real Estate Investor Top Brokers List for 2018; ranking 7th as one of the leading brokerage organizations in the industry.
TCN Worldwide Real Estate, a consortium of independent commercial real estate firms, provides complete integrated real estate solutions locally and internationally. An extensive range of real estate services coupled with a personal commitment to exceed expectations is what allows TCN Worldwide to be a leader in this competitive industry.  Comprised of leading independent brokerage firms, serving more than 200 markets globally, TCN Worldwide combines an entrepreneurial approach with years of local experience.  Around the globe, across all property types and service groups, TCN Worldwide’s more than 5000 brokers and salespeople have a well-earned reputation for providing straightforward expert advice.
See the complete list here:  https://www.nreionline.com/brokerage/2018-top-brokers?full=1

 
 

Real Estate Tip of the Week-9.14.2018

Have you purchased a commercial or industrial building lately? If so, then you know the Minnesota Pollution Control Agency is aggressively regulating vapors that may seep into buildings. Cracks in concrete floors, holes in the foundations, and just plain porous concrete can be conduits for harmful chemical vapors that may exist from contamination on your property or even the neighbor’s property.
Environmental consultants are recommending vapor testing for sites that are near known
groundwater and soil contamination.
If the tests are positive, a second round of testing may be completed before designing a treatment system. Typical treatments include creating negative pressure under the floor slab and venting it out the roof. This can be expensive, $1.00-$2.00 per building square foot. As you may know, when the MPCA is concerned, so are the banks. We have worked on four transactions in the last two years that required vapor treatment. It did not stop the transactions, but the process takes time, effort, and attention to detail in order to be successful.
Need real estate advice.  Call Paramount.
TRUSTED.  DEDICATED.  EXPERIENCED.
(952) 854-8290

Real Estate Tip of the Week-9.6.2018

What is LEED?

In order for a building to earn LEED Certification, it must meet certain criteria and goals within the following categories:

Location and Transportation: How close is the project to mass transit?
Materials and Resources: Will the project use locally sourced, sustainable products?
Water Efficiency: To what extent will the project reduce potable water usage?
Energy and Atmosphere: How will the project improve energy performance and indoor air quality?
Sustainable Site: To what extent will the project utilize nearby natural resources and ecosystems that can naturally take part of the design, minimizing environmental pollution?
Regional Priority Credits: This addresses particular concerns based on project location
Innovation: Any idea that is not covered under the main LEED areas

Each of these respective categories contains a series of opportunities to earn credits.  The project earns points when it uses and integrates these opportunities.  The more points the project earns, the more sustainable is the building.  Depending on the number of points gained, the project can then earn certification as a certified building or as a silver, gold or platinum building.
Benefits of a LEED Certified building are many:

Reduced use of energy and water
Reduced operation and maintenance costs
Reduced construction waste during the construction process
Increased indoor air quality
Usage of recycled materials
Increased employee performance, satisfaction and retention

Need advice on LEED.  Call Paramount.
TRUSTED.  DEDICATED.  EXPERIENCED.
(952) 854-8290

Top TCN Worldwide Member Deals! (2018-Q2)

John Young, CCIM’s transaction with Warner’s Stellian made TCN Worldwide’s-Top Industrial Deals (Q2-2018).  Read more: 2018_Qtr2 Commercial Focus.  Warner’s Stellian purchased an 80,000 SF industrial building located at 2601 Broadway Street NE, Minneapolis. 
TCN Worldwide, a consortium of independent commercial real estate firms, provides complete integrated real estate solutions locally and internationally. With approximately $58.6 billion in annual transactions, TCN Worldwide ranks as one of the largest service providers in the industry. An extensive range of real estate services coupled with a personal commitment to exceed client expectations is what allows TCN Worldwide to be a leader within the commercial real estate industry. Formed in 1989, TCN Worldwide is comprised of over 5,000 commercial real estate professionals serving more than 200 primary and secondary markets worldwide.

Real Estate Tip of the Week-7.26.2018

Qualifying your real estate needs, researching, locating and negotiating a new lease or purchase of a property is by no means the end of the relocation process for most companies. 
One of the most important and costly items within relocating a business operation is the actual move itself.  This activity requires diligent planning, multiple bids for competitive pricing, knowledge related to construction, furniture systems, Tel-com and IT, relocation/moving service providers, and many other move related items.  This is where a seasoned project manager can add tremendous value saving time and money, keeping everything on schedule and handling any problems as they arise.  Why risk exposure to additional costs, disruptions or unforeseen delays and headaches, not to mention the stress the inside person who was tossed the project manager hat will experience.  Interview and select a Project Manager as part of the initial space planning process and the move experience (and costs), will be well worth the cost of a Project Manager.
Call Paramount.
TRUSTED.  DEDICATED.  EXPERIENCED.
(952) 854-8290

TCN Worldwide Among NREI 2018 Top Property Managers

NREI 2018 Top Property Managers List


TCN Worldwide is honored to be named to the National Real Estate Investor Top Property Managers List for 2018.  The ranking is based on total square footage of space managed globally.  TCN manages nearly 446 million square feet.  TCN Worldwide Real Estate, a consortium of independent commercial real estate firms which Paramount Real Estate Corp is a member, provides complete integrated real estate solutions locally and internationally. An extensive range of real estate services coupled with a personal commitment to exceed expectations is what allows TCN Worldwide to be a leader in this competitive industry. Comprised of leading independent brokerage firms, serving more than 200 markets globally, TCN Worldwide combines an entrepreneurial approach with years of local experience. Around the globe, across all property types and service groups, TCN Worldwide’s more than 5000 brokers and salespeople have a well-earned reputation for providing straightforward expert advice.

Hedberg Judges 2018 NAIOP Awards of Excellence

Fred Hedberg, President of Paramount Real Estate Corp/ TCN Worldwide (left-front) recently participated as a judge for the 2018 NAIOP Awards of Excellence Building Competition. Their group toured 7 multi-family and industrial/distribution properties throughout the Twin Cities. This photo was taken at the Tractor Museum located at The Moline, a multi-family development complex in Hopkins.
The NAIOP Minnesota Awards of Excellence recognize exceptional developments by NAIOP members and their teams. Projects are reviewed by a panel of judges who tour each project in a given category and rate them on site development, architectural integrity, interior design, integration into the community, market feasibility, unique challenges and LEED certification or sustainable attributes. Building awards will be presented on Thursday, Sept. 27th. #NAIOP#ParamountRE#CoolBuildings

Press Release | Schultz Joins Industrial Brokerage Team

JOSEPH SCHULTZ JOINS PARAMOUNT REAL ESTATE CORP | TCN WORLDWIDE
AS LEASING AND SALES ASSOCIATE
MINNEAPOLIS, MN.  Paramount Real Estate Corp/TCN Worldwide, Bloomington, MN is pleased to announce the addition of Joseph Schultz to the Paramount industrial sales and leasing team.  He will be working with Philip Simonet and John Young, CCIM focusing his efforts on agency leasing, new business development and buyer/tenant representation in the southeast and northeast Twin Cities submarkets.
Joseph was born and raised a Minnesotan. He graduated from Saint Thomas Academy and attended college at Gustavus Adolphus College, where he earned a Bachelor’s degree in Economics with a focus in Economic Analysis.  He comes to Paramount with real estate experience while previously working as an intern at Cushman & Wakefield before joining Paramount.
In his spare time, Joseph enjoys watching sports, particularly the Minnesota Vikings, and spending time with family and friends.

Real Estate Tip of the Week-6.28.2018

Sale lease-backs can be a great option for your business. While many business owners feel that building ownership is right for them, a sale lease-back can provide financially-strapped companies with the capital injection they need. The transaction is simple: an owner/user sells the building to a third party investor, then leases the building back, often long-term. Equity in a building will generally see an appreciation equal to that of inflation (1-2%/year). A sale lease-back allows for a much higher return on equity by reinvesting the cash from the building sale back into the business itself; where owners can see a return much higher than 2%.
Want more information on sale lease-backs?
Call Paramount.
(952) 854-8290