Commercial real etsate is a very complicated business. There is always a lot of information to know as well as information to keep learning. Brokers are continuously educating themselves to better help their clients achieve their goals. First thing to know is that office buildings have a rating system. Class A Building: A Class A office space means that the building is less than seven years old, or that it has been updated in the last seven years. Many times the building will have a cafeteria Class B Building: A Class B office space might be brand new, and only a couple stories high. It could also be a Class A Building that has not been updated. Class C Building: [...]
When you are thinking about selling or buying a commercial real estate property, your next step should be to hire commercial real estate professional. First, for obvious reasons such as their knowledge in the market, their ability to negotiate for you, as well as their assistance in what you should be looking for. But there are also many overlooked reasons why you should definitely hire a commercial real estate professional. 1. The Value of Their Network. They will be able to help you find a contractor for tenant improvement, as well as walk you through all the city requirements that you might be unaware of. They are also likely to fin a lender that can get you a loan to [...]
Everyone that lives in Sioux Falls, SD would agree that it is one of the best places to live. Now so does the rest of the world. Livability.com ranked Sioux Falls, South Dakota #10 on the best places to live. Some of the reasons they included were the high ranking healthcare, amenities, the growing community, and more. Here are the top ten cities that made the list: 1- Rochester, MN 2- Bellevue, WA 3- Madison, WI 4- Santa Barbara, CA 5- Boulder, CO 6- Palo Alto, CA 7- Bismark, ND 8- Ann Arbor, MI 9- Iowa City, IA 10- Sioux Falls, SD To read more about the "Top 100 Places to Live in 2016" check out the link HERE.
Recent activity in the Sioux Falls office leasing market indicates we are experiencing a robust and growing economy in both the CBD and southern office markets. With climbing rental rates and decreases in vacancy, these specific sub-sectors (CBD and southern) are in expansion mode. I predict you will see some additional office (some speculative) construction in southern Sioux Falls in 2016. Here are a few recent Bender Commercial transactions: Downtown/CBD: JLG Architects leased 3,300 SF in the Best Building Pepper Entertainment leased nearly 2,000 SF in Shriver Square Lemonly leased 3,300 SF in the Best Building Southern Sioux Falls: American Bank & Trust leased nearly 5,000 SF in the Pinnacle Building EPS Law Firm sub-leased nearly 2,400 SF in the [...]
Sioux Falls has been growing fast, and lucky for us, that means new restaurants. Who doesn't love trying something new? In about a 20 block stretch, the market has added a significant amount of new food options: -Wingstop (26th & Minnesota) -Jim’s Burgers (former KFC building)—coming in 2016 -HyVee Market Grille -Gilberto’s (former Long John Silvers) -Topper’s Pizza -Einstein/Caribou -Z’Marik’s (Noodles-type concept coming in 2016). The last two replaced a Burger King that decided to give up its ground lease at the site and make way for a demolition and construction of a new strip mall. That is SEVEN new concepts to our market! There is cause for concern when we see this much expansion in one sub-sector of our [...]
Nick Gustafson and Dustin Haber representeded the Robford Group as they leased they 1,581 sq. ft. building to Assurance Logistics (represented by Andi Anderson). The building is located on 945 S Marion on the West Side of Sioux Falls.