Commercial Real Estate

Most of us have a good understanding of the foreclosure process that ensues once we miss several payments on our homes. On the other hand, knowing what happens to our places of business if we default on a commercial loan is probably a lot less clear. For one bank, commercial loan defaults are handled by their Special Assets Division. Once…

On behalf of Greg Lang of Lang Law Office posted in Commercial Real Estate on Thursday, August 3, 2017. One of the county’s largest apartment management companies closed escrow on a set of two apartment buildings near the University of Minnesota’s campus on July 17, 2017. After some renovations are made, the 310 units that make up the Bridges and Knoll towers, located at 930 University…

A contract for deed might help you if you’re unable to qualify for a traditional bank loan to buy your commercial real estate property. It can also help you if you’re looking to receive financing quicker. At the Lang Law Office, we help our clients with the legal aspects of their financing deals. We ensure that they are fairly treated…

Investing in a new business property is risky and it’s never guaranteed to pan out. Investing in an old business property, and renovating it into a better one, is also a risky venture that doesn’t come with any guarantees. Nevertheless, this is what the new owners of St. Paul’s restaurant, The Lexington, have done. They’ve spent approximately $5.5 million in…

Businesses that own their place of business and homeowners may fall behind on mortgage payments for a variety of reasons. Regardless how it happens, if you’ve fallen behind on payments for a piece of real estate that is now under the threat of being foreclosed, you might not have to lose the property. At the very least, you might be…

Minneapolis business owners will have a lot to consider when trying to decide whether to buy or lease their place of business. Ultimately, it all comes down to what will save them the most money, and make them the most profit in the long run, right? In this article, let’s take a look at some of the most important factors…

The Macy’s department store was at the center of downtown Minneapolis for more than 100 years, but recently it was sold, bringing an end to an era. Macy’s, which has long been the largest store of any kind in the downtown Minneapolis area, announced last Wednesday that it had sold the property to a New York real estate firm that…

Multi-tenant office space occupancy in downtown St. Paul, Minnesota, is continuing to rise. In fact, both residential and retail development are steadily growing in the area as well. At this time, the Greater St. Paul Building Owners and Managers Association says that competitively leased buildings currently show an occupancy of 83.4 percent this year. This percentage represents a marked increase…

Real estate law attorneys often have a good sense for the current state of local real estate markets — simply because they work with numerous clients to help them negotiate their real estate deals. They also tend to be highly aware of any efforts made by their local regional governments to stimulate real estate growth. Let’s take the city of…

Macy’s said that it will close approximately 100 of its locations throughout the United States in 2017. However, it has not indicated which stores it plans to close. Minnesota boasts 11 stores around the state, but commercial real estate firms in the state do not report any information about whether some or all of our state’s Macy’s stores will survive.…