If you’re a business owner in Denver, you know better than most how high the stakes are for any organization trying to succeed in the 2019 business world. The number of businesses filing with the Secretary of State in Colorado continues to grow year-over-year, with a record total of nearly 121,000 new filings in the 12-month period that ended Q1 of 2018. Since that point, the growth has slowed a bit, but the Denver market continues to surpass other major cities across the country. This means that the success of a small business requires every element of the operation to be at the top of its fame. Even the smallest weakness gives of the 750,000 businesses in Colorado the opportunity to encroach on your territory.
Navigating the tax code is a lengthy and tedious process - especially if you are unfamiliar with the code itself and how to identify potential benefits. One key benefit that those with investment properties can leverage is that of the 1031 exchange transaction. A 1031 exchange is a transaction that allows you to sell a rental or investment property and defer all capital gains taxes that would come on a sale by essentially reinvesting your would-be profits into another investment property. A 1031 exchange is not the ideal solution for every real estate transaction, but when it is, this particular type of transaction can save investors hundreds of thousands (or even millions) of dollars in taxes.
Whether you’re a business owner renting office space in a downtown high-rise or an investor with a handful of strategic properties making up your portfolio, having the right commercial real estate broker on your team is essential to the long-term success of your efforts. Finding the right commercial broker to represent your interests is easier said than done, though; especially if you aren’t entirely sure what specific traits and behaviors will be beneficial to you. There are certain things you want to look for when hiring a commercial real estate broker, so let’s walk through them.
The responsibilities of a commercial real estate landlord are extensive and when you own multiple large properties, fulfilling the marketing and leasing responsibilities that make your investments highly profitable becomes even more challenging. More often than not, the daily efforts of an experienced landlord representative can significantly improve your long-term financial outcomes. That’s the decision this Texas-based client made and it paid off in spades.
The client owned multiple Class A and Class B multi-tenant office properties in 6 major cities, including Dallas, Texas. They engaged Lowrey Burnett to handle the commercial real estate portfolio marketing and leasing duties. They wanted to ensure an experienced professional was actively working to keep the multiple properties leased to high-quality, credit-worthy tenants.
A local crossfit gym had been in business for several years but the capacity of their facility was not accommodating their growing membership. They were referred to Lowrey Burnett, CCIM by a previous, satisfied retail tenant. Having spent their days building their business and not keeping tabs on the current commercial real estate trends, they sought expert guidance on the pros and cons of leasing versus buying a commercial retail property prior to their upcoming relocation.
While occupying a retail property with limited on-site parking, the owners of a Colorado crossfit gym realized their rapid growth had overwhelmed their small facility and was becoming a point of frustration for their existing paying membership. They needed to relocate to a larger facility that provided the necessary amenities and kept them close to their loyal members. Burnett was ready to help them analyze the lease versus purchase options and make the prudent financial decision for their business.
When a Houston-based industrial client, occupying an 80,000 square-foot distribution facility, needed more space for their Colorado operations, they knew the guidance of an experienced, local tenant representative would be important. Not only would they need to sell their current industrial property, but also simultaneously identify a new warehouse in a tight market, negotiate the terms of the lease, and relocate to a new, larger facility. They engaged CCIM-designated broker, Lowrey Burnett, to help them navigate the process.
Upon outgrowing their distribution facility, the client engaged Lowrey Burnett to act as their representative for both the disposition of their current facility and the procurement of a larger lease space. In order to prevent any disruption to critical logistical operations, they needed Burnett’s expertise to seamlessly execute both transactions. Despite the challenges he faced, Burnett was prepared to navigate a complex set of circumstances under a timeline that supported the end goals of the business.
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