Office Space Re Imagined

P1260910Office Space Re Imagined

Ask most people what office space looks like and you are bound to get many of the same answers. Drop ceilings, florescent lights, never enough windows or daylight and bland space that fails to inspire. Creativity has seemed to be driven by peoples surrounds for decades. Artists flock to beautiful locations to be inspired by their surroundings. Writers search for inspiration and then solitude.
So why would your office space be any different? If you could choose a space that was pleasing to the eye, encouraged creativity and collaboration, had the ability to provide privacy when needed and you could occupy that space at a price similar to ordinary office space, would it be a more productive or happier place to work?
Here is one such space that makes me examine both the space I occupy and how creativity can be focused in buildings with character.

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October 2014 REO and Commercial Distressed Real Estate Update for Lansing MI Including Eaton, Ingham and Clinton Counties

Here is the October, 2014 REO / Bank Owned and distressed assets / Real Estate update for the Lansing / East Lansing market. This market area includes Okemos, Haslett, Holt, Mason, Portland, Williamston, Eaton Rapids and neighboring communities.

This month brings a sale at 608 W Saginaw in Lansing. This former restaurant site had been in the REO inventory for many years.

5995012_608_W__SaginawListed at $140,000, the property sold for $93,250. The property was physically in fair condition but had some damage from scrap metal thieves on the HVAC system.

New to the market in October is 1618 S Washington Ave in Lansing. The former home of Pockets Billiards Hall.

pocketsThis 8,260 Sq Ft building includes parking for 19 and sits at the corner of S Washington and Barnes near Lansing’s REO Town.  This sale is for just the building, no tenant fixtures or personal property  in the building is included. This sale is subject to Court approval.

Offered at $87,000

For more information on bank owned and bankruptcy properties in Michigan, please contact Matthew Wisniewski at RE/MAX Commercial Group today. With access to the latest offerings including multifamily, shopping centers, office, retail and office bank owned property, RE/MAX Commercial Group can assist you even if the property you are looking for is not yet on the market. Visit us today at http://www.rcgmichigan.com to search additional listings, virtually meet the commercial team and find out more about our services.

For Asset Managers: If you have a property that could benefit from a premier marketing presence, appreciate timely completion of assignments and regular feedback, our commercial marketing professionals are available for assistance in  Lansing , MI and the surrounding metro area. Call 517-321-2800 ext 118 for more information.

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September 2014 Bank Owned and Distressed Commercial Real Estate Update for Lansing MI Including Eaton, Ingham and Clinton Counties

Here is the September, 2014 REO / Bank Owned and distressed assets / Real Estate update for the Lansing / East Lansing market. This market area includes Okemos, Haslett, Holt, Mason, Portland, Williamston, Eaton Rapids and neighboring communities.

Commercial bank owned inventory continues to be in short supply, even as additional buyers enter the market eager to find the storied “deals” of 2010 and 2011.

The lending community appears to have seen the uptick in sales volume and price trends and has become unwilling to sell properties below market values. This is providing a much needed bounce in the values of these properties and the appraisal values as sale prices continue to rise across most product types.

For September, we have no new inventory on the market and no price changes from previous months. Our product pipeline does have several opportunities near the marketing stage however. These properties are expected to be clear to market in early October.

For more information on bank owned and bankruptcy properties in Michigan, please contact Matthew Wisniewski at RE/MAX Commercial Group today. With access to the latest offerings including multifamily, shopping centers, office, retail and office bank owned property, RE/MAX Commercial Group can assist you even if the property you are looking for is not yet on the market. Visit us today at http://www.rcgmichigan.com to search additional listings, virtually meet the commercial team and find out more about our services.

For Asset Managers: If you have a property that could benefit from a premier marketing presence, appreciate timely completion of assignments and regular feedback, our commercial marketing professionals are available for assistance in  Lansing , MI and the surrounding metro area. Call 517-321-2800 ext 118 for more information.

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Choosing the Right Attorney for Your Real Estate Transaction

real estateA good attorney in a real estate deal is a lot like having a good doctor in that they should be able to talk you out of doing things that cause you harm and can save your life when you need them most.

When involved in real estate transactions, we often are asked about the role of a attorney in the transaction. Like a doctor, you can go through your life without using an attorney. But also like a doctor, regular visits to your attorney can save you long term financial pain.

 

So how do you choose a good attorney? Well, that depends on what you need to do. You may not use the same attorney to deal with a tenant that isn’t paying rent that you would to negotiate the purchase of a business. Just like you wouldn’t have your heart doctor remove your molars.

Also, it helps to have a local attorney in the area that your real estate transaction is taking place. Real estate transactions ofter involve local closing customs, judges that may interpret the law in a way differently that in other areas and interacting with other professionals in the area. We have seen disastrous effects from out of area attorneys who are trying to use local customs from outside a market to close a deal in a different area where both the buyer and sellers end up walking away from the deal.

One of the characteristics we recommend when selecting an attorney is that you find one suited for the task at hand. If you are negotiating a deal, it often times is beneficial to stick with a person that brings both sides together to find a fair solution. When one side takes a hostile stance, it often times forces the other side to respond in a similar fashion. This generally only runs up legal fees and does not solve the issues.

If you are looking for a real estate attorney in the Mid Michigan area, feel free to give us a call for a referral to a local professional.

517-321-2800

RE/MAX Commercial Group

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June 2014 Bank Owned and Distressed Commercial Real Estate Update for Lansing MI Including Eaton, Ingham and Clinton Counties

Here is the June, 2014 REO / Bank Owned and distressed assets / Real Estate update for the Lansing / East Lansing market. This market area includes Okemos, Haslett, Holt, Mason, Portland, Williamston, Eaton Rapids and neighboring communities.

The commercial bank owned market has considerably dried up in 2014, in Mid Michigan. Listed properties have dropped by more than 70% year over year which has kept pricing higher. While commercial bank owned properties still represent a value in the market, the deals are few and far between this year.

 

New Listings:

8010749_Exterior301 Williamston Center, Williamston MI

This lender owned property features 1,818 Sq Ft of office space. The office condo was formerly a chiropractic office and has reception and waiting areas, private office and large open work spaces. There is even an x ray room built.

                                                                                 Offered at $130,000

Sold Properties:

IMG_00000774930 E Mt Hope Lansing, MI

Sold at $75,000 from an original list price of $99,000. 103 days on the market

 

 

For more information on bank owned and bankruptcy properties in Michigan, please contact Matthew Wisniewski at RE/MAX Commercial Group today. With access to the latest offerings including multifamily, shopping centers, office, retail and office bank owned property, RE/MAX Commercial Group can assist you even if the property you are looking for is not yet on the market. Visit us today at http://www.rcgmichigan.com to search additional listings, virtually meet the commercial team and find out more about our services.

For Asset Managers: If you have a property that could benefit from a premier marketing presence, appreciate timely completion of assignments and regular feedback, our commercial marketing professionals are available for assistance in  Lansing , MI and the surrounding metro area. Call 517-321-2800 ext 118 for more information.

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Real Estate Investment Strategy for Long Term Success

Real Estate Investment Strategy for Long Term SuccessPrint

I was recently consulting a client of mine on a lease renewal of a current tenant looking to add additional space and do some building improvements. We were comparing giving free rent to rent rate discounts to offset the tenant’s costs to improve the building. My client looked at it the same way we were thought in CCIM. More money sooner, is always best. The only issue is, sometimes it isn’t.

The problem was that this owner had a short to mid-term exit planned on this property. If he took a lower rental rate now, instead of rent credits to the tenant, it was going to affect his gross rents at the time of the sale which would directly hit his NOI and reduce his sale price by a multiple of the CAP rate at the time of the sale.

So, instead of paying $10,000 for a facade improvement over 6 months of rent abatement, reducing the PSF rent price would have translated into the facade work costing him as much as $100,000 in lost sales price. After we factored in cost of sale, taxes and cost recapture taxes, the lower rent method still made no sense in the long term.

In real estate, as in life, we need to look at the “right now” but we also need to have a strategy moving forward. If you are blindly making decisions on a property without knowing what your exit strategy is, you could be leaving a lot of money on the table.

200x250If your real estate investment could use a long term strategy, call me today for a free consultation. Matt Wisniewski, CCIM, RE/MAX Commercial Group East Lansing 517-321-2800 Ext 118

 

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Retail Space Across From Meijer in Grand Ledge

2012-05-03 12.12.48This 1,445 Sq Ft space has large open retail space with large windows for great natural light and an inviting feel. The overall complex has a diverse tenant mix and great traffic to support the area businesses. A large sign on Saginaw Hwy makes finding your business easy for customers.

Offered at $11.00 PSF NNN

Contact Matt Wisniewski, CCIM for more details and your personal tour. 517-321-2800 Ext 118

RE/MAX Commercial Group

300 W Lake Lansing Rd

East Lansing, MI

http://www.rcgmichigan.com

http://www.leaseinlansing.com

http://www.officespacelansing.com

http://www.businessesforsalemichigan.com

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Just Listed- City of Lansing Industrial Land 7.35 Acres

IMG_20140411_1247467.35 Acres Industrial Land in Lansing Michigan

This vacant land offering includes two parcels totaling 7.35 Acres in the City of Lansing along the Sycamore Creek. One parcel is .98 acres and is zoned G-2 Wholesale with the remaining parcel of 6.37 Acres zoned I Heavy Industrial. frontage on both Cavanaugh and Aurelius Rds.

For more information, call Matt Wisniewski, CCIM with RE/MAX Commercial Group in East Lansing.

517-321-2800 ext 118

 

See more at the link: http://www.cpix.net/listing/28836860

GIS MapMapCapture

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New Listing: Bank Owned Free Standing Retail Building in Lansing

IMG_00000774

This 2,000+ Sq Ft retail building underwent extensive renovation in 2004 adding barrier free access to the building. The property has excellent visibility on the corners or Mt Hope and Pennsylvania Ave. Zoned E-2 Local Shopping District.
Property has a monument sign on the corner of Mt Hope and Pennsylvania.
This is a lender owned building and is sold “As-Is”

See more at: http://www.cpix.net/listing/s_bUtTfzua0/930-E-Mt-Hope-Ave-Lansing-MI-48910

Call Matt Wisniewski, CCIM or Matt Denny today for a personal tour.

RE/MAX Commercial Group

300 W Lake Lansing Rd

East Lansing, MI 48823

517-321-2800

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New Listing: 1,000 Sq Ft Warehouse in Lansing Township

picture212Warehouse / Office in West Lansing

Warehouse / Office property in Lansing Township. Multiple Tenants with large parking lot.
Easy single price lease rate includes all CAM charges and on site maintenance.

Just North of I-496 off St Joseph on Business Centre Dr.

This space features a single 10 ft drive in door, a reception area, one office and the remaining space as warehouse. Easy single price lease rate includes all CAM charges and on site maintenance.

Offered at $500 per month

For your personal tour, call RE/MAX Commercial Group today:

517-321-2800

Matt Wisniewski, CCIM Ext 118

Matt Denny Ext 212

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