Getting a good deal on commercial real estate can put your business into a great position. Is that possible today? Absolutely, thanks to the drop in property prices in the late 2000's.
One of the best feelings for a Boston business owner is when his or her company expands. The business owner has likely invested a lot of time and resources into the business. From the initial sit-down with a lawyer to discuss a business plan to ongoing negotiations to grow the business, the business owner often puts his or her heart and soul into the success of the business.
It’s definitely good news for Boston when a large company moves in. Not only can it be good in terms of creating jobs and bringing new talent into the city, it can also benefit surrounding small businesses such as retail stores and restaurants.
Business owners have a lot of issues to consider when starting a business or when they plan to expand their business. Compliance with various business laws, such as zoning laws, can be very important in order to keep the business running smoothly. Zoning laws also have a lot to do with opportunity. The area that you may want to expand into may be zoned in a way that does not allow you to build on that land. Although a certain location might be zoned in a particular way for years or even decades, that doesn’t mean that the local government won’t consider changing it.
It’s always a wonderful thing when the real estate market is booming, and that seems to be the case in the Greater Boston area. There are a lot of interesting changes going on throughout the area, according to the senior vice president of Webster Bank. At a recent real estate panel she pointed out that there are a lot of opportunities in the works.
Commercial transactions are sometimes flawed with deception or fraud, and purchasers in Massachusetts may have been exposed to such transactions. A golf company in another state was a victim of a transaction in which the seller failed to disclose certain problems on the property. Failure to be forthcoming with information that may affect the success of commercial transactions is unlawful, and it can lead to costly litigation.
What hope might a Boston-based real estate company have in attracting business from California-based companies? Plenty, according to a spokesperson for Boston Properties, Inc. The company is hoping a marketing initiative will result in a new approach to commercial office space.
For a commercial real estate investor, failure to obtain an occupancy permit could prove devastating to business. A recent example involving a contractor in Salem, Massachusetts provides context.
Readers may associate commercial real estate deals with properties that will be leased out to operating businesses. However, commercial real estate might be used in other ways.