New project for APPRO Development: APPRO demoed an existing storage garage at Dick’s Sanitation in Lakeville, MN and is using that space to build a 2-level office expansion. Follow the progress of this project by clicking on the link below. https://approdevelopment.com/dicks-sanitation…-addition-photos/
Office space for rent Apple Valley MN includes many new property offerings across the city. Commercial real estate broker, CERRON Commercial Properties, has a variety of new listings just hitting the market. This is an ideal time to lease a single office or a suite. Prices are very affordable for individuals or small businesses looking for budget friendly work space.
New to the market this week, is a newly available first floor suite located near Cedar Avenue (CR-77) and just off of County Road 42. Located at 15010 Glazier Avenue, Apple Valley, this office space is one of three suites available at this location. Ideal for a variety of professional businesses, this is an excellent location. You may view full details of this office suite property offering at the following LINK.
An additional office rental space location is the Apple Valley Executive Suites. Located next to the Wise Swim School, just off of Johnny Cake Ridge Road and County Road 42 in Apple Valley, this site features individual, single offices, with shared amenities. Shared entrance, waiting lounge, conference rooms, work space (copiers/fax), restrooms, and break room are available for each tenant. You may view full details of this AV office space at the following LINK.
A third space available is actually just over the border from Apple Valley. Located at 14587 Grand Avenue in Burnsville, the offices at Ridge Run office complex are also located between CR-42 and Southcross Drive. These office spaces feature quick access to 35-W and 35-E and under new ownership are undergoing upgrades/updates like improved landscaping and installation of security/access systems. To view full details of this office space for rent, click on the following LINK.
You may also be interested in the following article:
http://blog.approdevelopment.com/blog/office-warehouse-space-apple-valley-mn
CERRON Commercial Properties has many office spaces available throughout the Twin Cities metro area, and especially across Dakota and Scott Counties. Please feel free to reach out to our team to discuss your current space needs. We have new properties hitting the market weekly. You may reach out to us using the form below or by calling our office at (952) 469-9444.
Thank you!
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Have you found yourself contemplating how much office space you truly need? Or, maybe you are curious about trends in office design. The APPRO & CERRON team has compiled some helpful resources to assist you through your next office space planning project. In Part One of this two part series, we focus on the Office Planning portion of these spaces.
In this article, you will learn:
So, let’s first start with what is keeping you up at night. Are your team members crowding into offices or cubicles, and you find yourself scratching your head, trying to figure out where you are going to locate your next new hire? Or, are you on the reverse side of that dilemma – finding yourself with excess office space: private offices that go unused, or cubicles that collect cobwebs? Do you have some traditional office space in your building – private offices around the perimeter, with shared cubicles in the center and are considering a different design configuration? Have you been checking out the “cool office” design pages (e.g. Mpls./St. Paul Business Journal – Cool Offices Page) and wondering if it might be time to address your office space that was designed decades ago?
Trends come and go in design – it is what can make it all so exciting! Yet, there are some tried and true aspects to space planning which transcend current trends. So, let’s start there, and then move onto trends you can incorporate, once your important space planning goals have been established.
The first consideration is the minimum amount of space needed for your staff. The following link to a space calculator gives an idea of approximate SF needed per person, per role, in a typical office. You will also need to consider space for common areas like breakrooms, restrooms, and work or file rooms, and meeting spaces like conference rooms. The space calculator is simply a starting point, and selecting an architectural design team, early in the process is an important next step.
According to a recent article published on LinkedIn, “Adding the architect to your leasing team early in the leasing process to develop reliable space requirements (before you begin looking at potential lease spaces) can make all the difference in leasing the proper size and type facility for your company” as stated by J. Edgar “Ned” Fennie Jr., in an article titled, “Office Planning Guidelines: How much space should we really be looking for?” Fennie goes on to state, “Make sure your selected architect understands your culture, business goals and workflow and has the expertise to guide you through the programming process. This will ensure you have an accurate heads-up picture of your space requirements.”
Calculator Image Designed by Freepik
Additional considerations include site, layout, amenities, and much more. Having a checklist of considerations can be very helpful during the planning process, and can help tremendously during conversations with your design team. Download this free office space planning checklist to learn more.
Once you have worked out the type of space you need and have set your basic goals and parameters for the space you desire, you may want to also factor in some additional considerations, including design trends, previously mentioned.
If you are not ready to commit to a long term lease, you may want to consider leasing a short(er) term lease space (e.g. – Apple Valley Executive Suites).
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With more staff working from home, could you make use of shared space?
Shared space vs. private space – more companies are using large collaborative spaces and at the same time, carving out small private meeting spaces.
Check out Forbes magazine, “10 Cool Office Spaces” article for examples of changing spaces and a few fun additions to the office environment. On a similar note, a couple of us from our office recently attended a Valuations seminar by the Minnesota Real Estate Journal, and learned that some offices are installing fun features like ping pong tables and one location, even had a “keg-erator” installed.
Check out some of our recent office projects for ideas:
Grazzini (completed project)
Hearth & Home (completed project)
Midstates (portion complete; ongoing work)
Growing Colors by Gardenworld (ongoing current project)
When you have decided how much space you might need, or that you require some assistance in making that determination for your team, contact our design team or our real estate team to start a conversation about your space needs. You may reach our team members at the following:
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A Commercial Real Estate Topic Review of the purpose, rules & options in a 1031 Tax Deferred Exchange
I’ll start by saying you should consult with your tax and financial advisors for information on whether a 1031 Exchange is right for you and your financial goals. I can help you find the new property and also help you sell the old property.
A 1031 Exchange can be a great tax benefit for someone that wants to stay invested in commercial real estate and would also like to trade up and improve their commercial investment. Maybe that office warehouse with the low ceilings and dated office finish has become increasingly expensive to keep up and to lease out. Maybe a newer, high clearance warehouse with a beautiful office space and state of the art cabling and communication capabilities is just what your renters are looking for. You’ve just hit on the perfect 1031 exchange scenario. Sell that old building and buy one that fits your goals without having to give Uncle Sam any of your hard earned commercial investment profit.
There are a few things you need to know about 1031 exchanges before you take my advice and call Cerron for your property solutions. So what is a 1031 Tax Exchange? In this article I’m talking about a 1031 (also called “like-kind exchange”) being used to swap one commercial property investment asset for another and not losing 15 to 20 percent to the government in tax liability. In other words, you can change the form of your investment (trade up) without cashing out and being liable for capital gains tax, the tax is deferred.
Sorry, you can’t use a 1031 exchange for personal use. If your spouse would like a bigger, nicer, more expensive house, that’s a personal problem and a 1031 isn’t going to work to solve it. It’s for commercial investment property. There are other rules that apply also. You need to identify your property that you’re selling for a 1031 exchange before you close on it. Then you must submit the replacement property to a qualified intermediary in writing within 45 days. The qualified intermediary will hold the money from the property you sold until you purchase the new property and will facilitate the transaction. You must also close on the new like-kind property within 6 months of the sale of the original property. The IRS gives like-kind property a surprisingly liberal meaning so it may be possible to sell a farm and buy a shopping center. To get the full benefit the new property should be of equal or greater value.
There’s a quick lesson in 1031 Exchanges. Any one of us at CERRON Properties would be glad to help you get more information and help you find the perfect property for your 1031 Exchange.
Thanks,
Dan Huntington
October 5-11, 2013
Image Source: Wikimedia Commons (State_Office_Building)It has been a busy week in commercial real estate as CERRON takes a look at the week in review…
Office Spaces & Demands are Changing, according to an article by Costar this week. With a review of the many class A office buildings across the nation, “the increasing age and relative inefficiency of these properties present big challenges and risks for owners and investors as businesses increasingly re-evaluate and re-engineer their office requirements to meet leaner 21st-century workplace needs,” according to Drummer (October 8, 2013) in his Costar Article. With an increase in the amount of technology used to run businesses, a reduction is being seen for the amount of space needed in this sector. Tech firms and call centers are increasing in demand and present an opportunity for owners to market to these potential users.
Developers turn to office space to meet the needs of lodging, according to Melvin Backman at Wall Street Journal, September 24, 2013. As the need for lodging increases, developers are getting creative and turning to office space as a resource to meet this growing need. Examples of this type of space conversion are being seen across the nation. “By converting buildings to hotels, owners hope the buildings will produce higher incomes and better returns on their investments.”
Third quarter data show continuing improvement in the CRE lending market, with banks increasing their exposure in secondary and tertiary markets, according to Eric Hawthorn for Llenrock Blog, October 11, 2013, as originally reported via REIT.com.
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