How To Buy a Building: Commercial Property Purchasing Process

The commercial property asset class can be a highly profitable and productive portion of your investment portfolio. Depending on the market cycle, buying at the right time and purchase price can help real estate investors build long-term wealth. Commercial buildings fall into many categories, each with their own nuances.

There are substantial differences between buying a building in the commercial space and single-family homes. Here’s an overview of what buying a commercial building looks like, the steps involved in the various types of assets under the commercial umbrella, and whether real estate investors should try to get in on the action.

How to buy a building: commercial vs. residential

Buying a building in the single-family market is significantly different from buying one in the commercial space. Here are some quick facts to consider when thinking about buying your first commercial building.

Lending

One difference between buying a commercial building and

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Tower’s $100M fix meant to stop building, its home values from sinking

Four years after the Millennium Tower grabbed international attention as the world’s most prominent sinking and leaning high-rise, the off-kilter condo tower is set to start a $100 million fix that residents hope will not only correct the engineering blunders of the past but restore values in the beleaguered building.

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Millennium Tower’s $100M fix meant to stop building from sinking

Four years after the Millennium Tower grabbed international attention as the world’s most prominent sinking and leaning high-rise, the off-kilter condo tower is set to start a $100 million fix that residents hope will not only correct the engineering blunders of the past but restore values in the beleaguered building.

Over the next few weeks, the scaffolding will be erected at 301 Mission St. The sidewalks will be barricaded off. Pile drivers will start drilling the first of 52 concrete, 140,000-pound piles that will anchor the building to bedrock 250 feet below ground. The two-year project will relieve stress on soils

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Millennium Tower’s $100M fix meant to stop building and home values from further sinking



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U.S. Bank lists downtown Duluth building for sale



a view of a tall building: The 10-story U.S. Bank building in downtown Duluth is for sale. The bank intends to remain as a tenant.


© Star Tribune/Star Tribune/Brooks Johnson / [email protected]/Star Tribune/TNS
The 10-story U.S. Bank building in downtown Duluth is for sale. The bank intends to remain as a tenant.

DULUTH – U.S. Bank is looking to sell its 10-story building in downtown Duluth, though the bank intends to remain as a tenant.

“We are proud to serve our customers in the Duluth area and look forward to continuing to serve the community,” spokeswoman Boua Xiong said in a statement. “Although we have put our current site on Superior Street up for sale, we plan to sign a long-term lease with the new owners. We do not expect this to impact our customers or to change the number of our employees who work in the building.”

No listing price was available. Brokers with Cushman & Wakefield, the firm handling the listing, were unable to comment.

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County tax records have the property

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Silicon Valley research building draws buyer

SAN JOSE — A big — and empty — research and development building in north San Jose has been bought by an investor with properties on three continents, an indication that investors still hunger for Silicon Valley real estate despite the coronavirus uncertainties.

Exeter Property Group, which has $2 billion in properties owned or under management worldwide, has bought a vast building at 1710 Automation Parkway in San Jose which is vacant after its previous tenant, Western Digital, exited the site.

Brokers Steven Golubchik, Edmund Najera, Darren Hollak, and Jack Phipps with the Capital Markets unit of commercial real estate firm Newmark Knight Frank arranged the building purchase.

“1710 Automation is ideally located within proximity to some of the world’s most prominent technology companies,” said Najera, a vice chairman with the Capital Markets group.

Exeter Property paid $36.2 million for the building, which totals 197,000 square feet. Soma Capital Partners

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Bank, Pizza Building For Sale In Coolidge Corner For $15M

BROOKLINE, MA — If you’re looking to get into the business of owning a commercial building in town, and have an extra $15 million you’ve got nothing better to do with, here’s an option that just came on the market. The building that’s hope to Webster Bank and Ottos Pizza is for sale.

The realtor notes it’s got “tremendous development potential,” in the listing. That’s likely not exactly music to the ears of many North Brookline residents, as the area is set to see a more construction in the years to come.

Check out what the realtor has to say about it:

  • Address: 297 Harvard St, Brookline, Massachusetts
  • Price: $15,000,000
  • Square Feet: 8, 208
  • Bathrooms: 0 Baths
  • Features: 297 Harvard Street is an irreplaceable boutique retail asset and transit-oriented development opportunity in the heart of Coolidge Corner, Brookline, Massachusetts. The prominent 8, 208 square foot single-story building is 100% occupied
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This Rescue is Building Tiny Homes for Shelter Dogs

The shelter environment can be incredibly overwhelming for any dog. There are strange sights, smells, and sounds, and the presence of unfamiliar animals and people can be constantly changing. Some pets adapt more quickly than others, while some struggle with the frenetic surroundings.

One animal shelter in Texas is building tiny houses as a solution for those anxious dogs that need a calmer place to stay. The non-profit rescue Austin Pets Alive! is creating two small cabins on their shelter grounds complete with heating and air conditioning, dog-friendly furniture, and their own private yards. The cabins will also provide workspaces for staff and volunteers.

The tiny homes should be ready for their first guests later this month.

“The idea is to provide more of a home-like environment for the unique population of dogs Austin Pets Alive! cares for as the safety net for shelter animals who need us most —

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Great Falls Tribune office 38,000 square-foot building on River Drive up for sale

The Great Falls Tribune is listing its 38,000 square-foot building at 205 River Drive for sale.



a building that has a sign on a grassy field: The Great Falls Tribune office building at 205 River Drive is up for sale.


© Great Falls Tribune
The Great Falls Tribune office building at 205 River Drive is up for sale.

A real estate team from Gannett, the Tribune’s parent company, will handle the sale of the building just off the banks of the Missouri River near Broadwater Bay.

The Tribune’s newsroom and circulation staff will continue to be based in Great Falls.

With the shift of the printing operation to the Helena Independent Record, the Tribune will look to move into a leased space in Great Falls that is more accommodating to its current staff.

Stopping the presses: Remembering the rich history of printing Tribune in Great Falls

The Tribune moved into the River Drive location in 1979 after operating for more than 60 years in what is now the Cascade County Treasurer’s office at 2nd

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Big Al Capone’s in Pipe remains closed; building for sale following owners’ retirement

PIPE – Big Al Capone’s, N10302 U.S. Highway 151, and its historical property are for sale.



a close up of a street in front of a house: Big Al Capone’s, present day.


© Taima Kern/Action Reporter Media
Big Al Capone’s, present day.

The restaurant temporarily closed in March shortly after the state’s safer-at-home order, deciding not to continue take-out services. By June, many local restaurants had reopened, but Big Al Capone’s was not one of them.

During the shutdown, owners Annie and John Schmitz retired and put the historical property up for sale, as of Sept. 20, according to the restaurant’s Facebook page. 

Restaurant’s history includes gangsters, ghosts

The building was originally built in 1846 as the Stage Coach Inn and Fuhrman Hotel and had earned a place on the State Historical Registry, according to The Reporter archives. 

The Schmitzes previously owned Schmitty’s Oar House, and after selling, bought this building — said to be one of Al Capone’s stops when traveling between northern Wisconsin and

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