Would you like to buy, finance, improve, or sell properties? Landlords are taking advantage of these opportunities now, according to two recent articles in The Wall Street Journal.
The May 22, 2013 article entitled “Starwood Capital Goes Shopping for Malls”, reveals that landlords are buying and financing retail properties. Other landlords are selling in all categories of commercial real estate and one the largest real estate IPOs since the financial crises is being prepared. And other landlords are upgrading properties to attract tenants and increase rents. Landlords are acting now to take advantage of low interest rates, available financing, increased rents and rising values.
Landlords are also improving properties now by transforming vacant and aging office parks into new uses, according to the May 22, 2013 article entitled “Office Parks Get a Makeover". New uses include apartments, stores, movie theaters, restaurants and hotels. Some landlords have made these changes due to high vacancy rates, including vacancy rates of 17% or more in suburban markets, where some vacant office complexes may have become obsolete. And local officials in many communities have approved plans for such changes.
Before you buy, finance, improve, or sell properties, careful planning is required. For example, governmental, construction, operation, tax, and other requirements and restrictions need to be evaluated and addressed. And it is important to develop a strategy to quickly achieve your goals.
Evaluating legal issues with your properties requires careful review on an individual basis with experienced counsel. The attorneys in Stark & Stark’s Commercial Real Estate Group can help you minimize risks, maximize opportunities, and meet your commercial real estate needs.