19 Nov How Much Do Commercial Brokers Charge?
The answer to this question is deceptively simple: It’s all negotiable. But the reason behind this answer dates back to 1890 when Congress passed the Sherman Act as a way “to protect the process of competition for the benefit of consumers” (source). Essentially, the Sherman Act along with the Federal Trade Commission Act and the Clayton Act ensure healthy competition in...
18 Nov The Pulse: Former Neese Industries Headquarters Sells
A weekly update on the commercial real estate landscape of Baton Rouge. Commercial Sales Recorded Last Week 622 Shadows Ln, Suite B Price: $250,000 ($139 / SF) Buyer: Jackson and Jolie LLC Elifin's Notes: Parker Orthodontics purchases office suite near Goodwood Blvd and Connell's Park Ln. 10646 Airline Hwy Price: $1,500,000 ($22 / SF) Buyer: ASH Brothers, LLC Elifin's Notes: Former Neese Industries headquarters sells in Gonzales, LA. 1974 Wooddale...
18 Nov What’s the best way to negotiate for a lower rent for my office space?
I have three suggestions for negotiating a lower rent for your office space: Go with a longer term lease. Commercial property leases can range from 1 year to 10 years. For a landlord, a shorter lease means that they’ll have to put work and marketing money into finding a new tenant sooner rather than later. This may mean that a shorter term...
15 Nov Former Neese Industries Building Sold for $1,500,000
DOWNLOAD PDF November 15, 2019 – Baton Rouge, LA – Elifin Realty has announced the sale of 10646 Airline Hwy in Gonzales, LA. This large industrial property has been the headquarters for Neese Industries for 50+ years. The ±69,000+ SF complex sitting on 25 acres was purchased by ASH Brothers, LLC. The property features 905' of frontage with 5 access points to Airline...
15 Nov What amenities should I add to my office building to attract top businesses?
The answer to this question really depends on the specific market and type of business you’re targeting. In a large market like New York or San Francisco, the focus is on “smart” buildings. Buildings include things like temperature control, access control, very energy efficient windows. All things that make the building nicer and more secure. In a market like Baton...
14 Nov Three Office Pad Sites in Covington SOLD
DOWNLOAD PDF November 14, 2019 – Baton Rouge, LA – Elifin Realty has announced the sale of three office pad sites (Units 3A, 8B, and 12) located in the Abita View Office Park at 1958 N Hwy 190 in Covington, LA. Unit 3A is planned for a ±6,600 SF building area to be built on piers similar to the neighboring building. Unit...
14 Nov How do I evaluate a commercial property to purchase?
As a commercial real estate investor, it is crucial that you know how to properly evaluate a property before making an offer. You may be eyeing a commercial property to purchase, but before investing it is critical to know how much the property is actually worth. What will be the rate of return on the property? Is the asking price...
11 Nov The Pulse: LWCC Purchases Former La Quinta Inn + 2 National Auto Service Retailers Purchases Land in BR
A weekly update on the commercial real estate landscape of Baton Rouge. Commercial Sales Recorded Last Week 9442, 9452, 9560 Angus Ave Price: $1,450,000 ($60,417 / unit) Buyer: Duke Rentals of Zachary LLC Elifin's Notes: Three 8-plexes in Zachary sell each containing 2 bed / 1 bath units. 3905 Convention St Price: $290,000 ($41 / SF) Buyer: HIV/AIDS Alliance for Region Two (HAART), Inc Elifin's Notes: HAART, a non-profit...
11 Nov What is the typical lease term for office space?
This is kind of a trick question. Unlike residential real estate where leases are typically for 1 year, lease terms for commercial real estate vary widely. Many times, the lease term will depend on the building type, whether it’s a one story garden type office or a multi-story/multi-tenant building that you’d see downtown and other areas of Baton Rouge. Lease terms...
11 Nov Can I request my landlord to make upgrades to my office space before I move in?
Generally, office space is tailored to each specific businesses' needs whether it be small things like paint colors or big things like locations of walls and offices. When you’re moving into a new office space, it’s likely that the decisions that the previous business made for the space will not meet your needs for the space. Because of this, you...
