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CRE

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

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

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