Bruce Rydeen named a Top 2013 Power Broker for Minneapolis

Bruce Rydeen named a Top 2013 Power Broker

Bruce Rydeen - 2013 Top Power Broker - Industrial Sales - Minneapolis MNThe team at APPRO and CERRON is excited to share that Bruce Rydeen has been named a Top 2013 Power Broker! Bruce is a valued leader in our organization and works with clients in all commercial property types, including: industrial, manufacturing, office, retail and land. This particular award is presented to Top Deal Makers in Commercial Real Estate.

Bruce is honored to have received this award specifically for his work in the Industrial category for the Minneapolis market of Minnesota.

Additional information about the Top 2013 Power Broker Awards, can be found via the following links:

Top Commercial Real Estate Firms and Brokers article – Costar

and

List of 2013 Top Brokers (see Bruce under Top Industrial Leasing Brokers)

Our sincerest gratitude to the Costar Group for recognizing Bruce’s hard work and congratulations to Bruce from the entire team at APPRO & CERRON!

We would love to bring our award winning expertise to your next commercial real estate project. Give our team a call to get started today!

Learn more about the industrial construction process and how our team can help you navigate the process.

What to Look for in Investment Properties

Want to know what to look for in investment properties? This is a great place to start.

what to look for in investment properties information from CERRON Commercial PropertiesLove Real Estate? Thinking about getting into Investment Properties?

Most people know the common formula affectionately known as IRV.

Income = Rate X Value

Income is the net operating income (revenues minus operating expenses and before debt service).

Value is the real estate market value.

Rate is the capitalization rate. When you have a higher cap rate, the lower the value for the same amount of income or conversely, the lower the cap rate, the higher the value. Cap rate also reflects risk. Typically the higher the cap rate, the higher the risk. Lower cap rates come from credit tenants who are perceived as less risky. Cap rates run around 4% to 12% with an average of 8%. For easy figuring many use 10%–$100,000 of income is a $1 million value.

The other part of the equation is not reflected here: what does is cost to borrow. If interest rates remain low (as they are predicted to do), then the cost of borrowing will stay low and allow for greater property values that still provide a desirable rate of return. Some investors have recently enjoyed 5 year money for as little as 3% interest. When you can leverage your money, you can make more money, but it is also more risky. I suggest you talk to your banker before looking to buy to find out how much you could borrow and at what terms that work for you. If you don’t have a banker, we can provide several professional contacts we have enjoyed working with over the years.

Other things to look for:

  • quality of the tenants
  • length of the term of the leases in place and renewal terms
  • vacancy (and vacancy allowance)
  • quality of the building, grounds and parking lot
  • condition of HVAC
  • condition of the roof
  • responsibilities of landlord/tenant in the lease
  • property management
  • operating expenses—are they in line?
  • real estate taxes –property tax detail
  • location –ease of access, lit intersection
  • potential changes in roadways or development-contact the city
  • zoning code and allowable uses
  • potential reuse
  • parking stalls—parking ratio
  • visibility
  • signage

The good news is that anyone can be a real estate investor. The key is to have good people to help you with your property: banker, property manager, commercial real estate agent, contractor, accountant and real estate attorney. The APPRO/CERRON team can help with leases, sales, acquisitions, management, market/proforma analysis, architectural design, and construction. We have contacts to cover the other areas to fit your project. Take their professional advice, use common sense and follow the golden rule of real estate: don’t fall in love with it. When it is time to sell, sell.

<em>The information contained on this website and from any communication related to this website is for information purposes only. As with all financial matters, consult your tax, legal or accounting professionals to discuss how investment decisions may impact your specific circumstances.</em>

Lakeville High School Career Jamboree (2013)

Lakeville High School Career Jamboree (2013) – Lakeville Community Event

Casie Radford and Kris Bockelman at the 2013 Lakeville High School Career Jamboree

The 2013 Lakeville High School Career Jamboree was a very exciting and well attended event! Three (3) team members from APPRO and CERRON were able to attend the event held on on Monday, November 4, 2013:

  • Casie Radford, APPRO’s architect
  • Kris Bockelman, CERRON’s Commercial Administration Assistant
  • Andrea Kaderlik, Marketing Coordinator for both APPRO and CERRON

Representing both APPRO and CERRON, these team members spoke to many of the 850 Lakeville High School (North and South) juniors who were invited to this event between 2:30 p.m. until 4:30 p.m. While meeting with the students, we had the opportunity to discuss careers in each of our respective fields of design and architecture, commercial real estate and administration, and sales and marketing.

The students asked many thoughtful questions and hopefully learned about opportunities in the commercial real estate, design, architecture and construction services fields. Many students were surprised to find out the amount of years required to obtain an architectural degree and subsequent license upon visiting with Casie. Students were also curious to find out what a typical day in commercial real estate administration or of a marketer may look like, should they choose to pursue a career in these areas of interest.

Our two sister companies, APPRO and CERRON, were joined by approximately 70 other area businesses including: agriculture, food and natural resources, arts, communication and information systems, business management and administration, engineering, manufacturing and technology, health sciences technology and human services. It was a full house indeed!

The entire team at APPRO Development and CERRON Commercial Properties, is thrilled to be a part of the Lakeville community and to volunteer our time for events like this. We were very encouraged and highly optimistic about the future of our community as a result of conversations with the students with whom we met this week!

Feel free to read more articles about our commitment to and involvement in our local community in the “Community” section of our Blog Page. You may also see the handout we shared with students: 2013 – career jamboree handout-full page. We are grateful to Lakeville (North and South) High School and the Lakeville Area Chamber of Commerce for the opportunity to be a part of this fun day! Thank you!