Philadelphia, fondly known as the City of Brotherly Love, is the largest city in the state of Pennsylvania, in the United States. It has a population of over 1.4 million with a growth rate of 1.2% on average until 2009.

This growth is considered one of the lowest in the United States, however, at the present time, there has been a small but significant influx of migrants into the Philadelphia area which has helped somewhat make the office space market in Philly stable. Philadelphia played an important role in what has become America as we know it because it was here that the American Revolution and Independence was fought for. We also list all the office spaces in Pittsburgh and the majority of local listings in: Blue Bell, East Falls, Hatboro, Manayunk, Market St., Oreland, Roxboro, Bridgeport, Chester Springs, Exton, Hanover, and Queen Village. If you need an office space elsewhere check out our office listings. (more…)

The Canadian Real Estate Investment Trust (CREIT) completed a $39 billion purchase in a group of retail businesses in Edmonton on December 30. The buy comprises a stake worth 50 percent in stores that are a portion of the South Edmonton Common shopping area. CREIT reports that it plans to assume a first mortgage of $5.7 million, with a 5.9 percent interest rate and an 8.2-year term toward maturity.

At present, the South Edmonton Common shopping centre has 2.1 million in retail area square footage. Properties include Home Depot, Walmart, a Loblaw Superstore and IKEA. The stake purchase by CREIT contains 60,000 feet of completely developed space for lease, property being redeveloped, as well as land designated for development. Current tenants in this space are Petro-Canada, The Keg Steakhouse and Tim Hortons/Wendy’s. These properties have an average of eight years remaining on their leases in the shopping centre. (more…)

Buying property is a huge investment, whether it is personal or commercial property. There are plenty of online resources you can use to get help in finding the right property and helping the sale come to fruition. In commercial sales of property there is one other option that can be used to help you buy the right commercial property. If you are thinking about purchasing any commercial location you will want to consider commercial prepurchase building inspection reports.

These reports will help you fully examine the quality of the commercial property you are interested in. In fact you will know from these reports if the property is of sound quality. The reports will expose any maintenance or structural defects that might exist. Laws regarding disclosure on a piece of property are not always specific. There are gray areas that a seller can categorize something into, especially if the seller states “as is” in the contract or on the sale.

The commercial building inspection reports you obtain are done in accordance with the Australian Building Codes and Standards. Anything found in the report that is less than the codes and standards will require fixing. In a sale it is better to know what fixes you might have to make and what you might bargain with regarding the seller.

All of the pre- purchase building reports have been completed by a Registered Builder or Structural Engineer. They will inspect each aspect of the property looking for visible defects, as well as those that may be harder to notice. For instance the reports are generated on internal and external aspect like electrical, plumbing, and mechanical features of a property. If necessary the initial inspector may hire a secondary inspector that is qualified in certain building positions to inspect a commercial property correctly.

The commercial properties car parks, drainage, and other facets of the property will also be inspected and reported on. The inspection reports will be fully comprehensive regarding the commercial property including estimates for repairs and maintenance. These cost estimates must be requested when you sign up for a pre- purchase commercial property inspection report.

The typical faults found with commercial properties include air conditioning, electrical issues, plumbing and drainage, and wall cracks inside and out. When you obtain the commercial prepurchase building inspection report you will know that the team leading the inspection has worked on thousands of properties just like the one you wish to purchase.

They will guarantee their findings to ensure that you have a good feeling about it and their services. Buying commercial property is a huge investment. You may be starting out in a new business venture or expanding your business. In either scenario you still need to be certain you are making a sound investment. Commercial prepurchase property inspection reports allow you to feel comfortable with the purchase. It also gives you an idea of any maintenance you might need to do in the next few years to keep the building up to code for the life of your business.

If you’re looking for commercial building inspections in Perth, Western Australia, a prepurchase building inspection by BSP will expose possible maintenance items and structural defects allow you to make a confidence purchase decision. All building reports are done in accordance with the current Australian Building Codes and Standards.

Orange County has emerged as a business hub which can weather just about any economic storm. It is also likely to remain as one of the preferred choice on the target lists of investors and of the people will to rent the executive office space. In the Orange County, Irvine has been emerging as a place that has caught special attention of the developers and is now on the eyes of tenants too.

Located at the south east of Santa Ana mountains, Irvine is becoming a popular target place for businesses like research and development of high-technology electronics, especially computer products, and the manufacture of motor vehicles, pharmaceuticals, aerospace vehicles and aircraft parts, and medical instruments. (more…)

While busily focusing on the day to day operations of a business or investment portfolio, commercial property owners often overlook latent opportunities to unlock a property’s hidden value, only taking time to consider their property when a problem or issue arises.

Value adding opportunities aren’t always evident but can be extremely rewarding, and can require minimal capital expenditure relative to the gains brought forward. And, if outsourced to a third party can require minimum time and resource input from the owner. (more…)

Los Angeles is one of the most desirable locations for business prospects. You must need an office space in Los Angeles if you want your business to grow forward. However, it is not possible for everyone to go for such a place considering the costs involved. It is better to look for other nearby locations which can give you same level of growth opportunities; Torrance is one of them. It is the sixth largest city of Los Angeles and may really promise a lot to your business. It is advisable to go for an executive suite in Torrance for a new venture.

Executive suites in Torrance are well equipped with all the modern amenities that provide you a professional atmosphere. These office spaces are located in the corporate hub where abundant business opportunities are awaiting. There are other offices located in the same buildings. It is good for you to know each other and start understanding each other’s products & services. This will give both of you a chance to enter into a fresh business relationship and help each other. Your business size doesn’t matter here as there is everything for everyone. These executive suites in Torrance are very cost-effective too. (more…)

Have you just received a letter from the NYC DOB, which was sent for the purpose of telling you that your building is due for a Local Law 11 inspection, and you’re not quite sure what Local Law 11 is about? If yes, then I’m glad that you’ve found this article.

Local Law 11, which is also known more correctly as Local Law 11 for the Year 1998, is the facade safety inspection law of the New York City Department of Buildings. It is called a “local” law because it is mandated only by the local government of New York City, and is not mandated by the federal government. Therefore, no buildings outside of the New York City limits need to comply with this law. (more…)

In commercial real estate it pays to have a basic plan that allows you to focus on and refine your closing procedures. Far too many people in the industry start to close when they think that the time is right and then use a random process. They do not close well. They are not practiced and they are not refined to the requirement of closure.

You always know when you are dealing with a real professional in the industry. They are professionally direct and helpful in the way in which they interact with the other party. Their dialogue is selective and focused. They are very skilled. To achieve this level of performance it requires sometimes years in the industry, although you can fast track the process with simple practice. (more…)

The city of Cape Coral in Florida along with the surrounding areas is worth looking at in terms of investing even in these harsh global economical times. The reason why more and more people have realized this situation is because the city offers a great natural beauty, water access along with pleasant weather for the inhabitants, making it a great location to live. Recent sales figures show that this location is in the top growing cities in the United States which must stand for something these days when not many people have the courage to invest their hard worked money.

The range of people that are investing in Cape Coral is quite wide; most often, people are looking for a second home or a retirement home where they can spend their golden years. Of course, there are people who come from all over the country to live here for good. Although investments have gone sky-high, the prices are still great but the tendency is that they will grow in the next few years so if you have some money to invest, Cape Coral real estate should by on your list of priorities. (more…)

Realpoint recently came out with some very sobering stats for the $700 billion CMBS market. While the velocity of defaults is indeed staggering; for those who follow the capital markets, it just confirms what we already know: More pain (as well as opportunity) lies ahead for CRE.

CMBS delinquencies in November rose 16% over October to just under $38 billion. What’s worse, year over year (thru November) delinquencies were up a mind-numbing 440%. Now to be fair, there were some 800 lb. gorillas that distorted the numbers (the Extended Stay America and Stuyvesant Town loans of $4.1bl and $3bl respectively). That being said, Realpoint estimates delinquencies on the unpaid balance (UPB) is set to rise another 31% to 58% by mid-year. (more…)