Market News

Commercial Real Estate

AXIS 360 Commercial Real Estate Specialists, a new commercial real estate brokerage company, has opened at 3001½ Gill St., Suite A, Bloomington.

Laura Pritts and Meghan O'Neal-Rogozinski, formerly of Coldwell Banker Commercial, opened the business.

The term “commercial real estate” means a lot of different things to a lot of different people, including the brokers who practice in the field.  Commercial real estate encompasses virtually all real estate activity outside of residential home sales.

There’s a lot more to the Bloomington-Normal real estate market than single-family homes. The commercial market includes office space, retail, industrial, and big apartments. And it's on its own cycle, typically following the residential market but several months behind.

In June 2022, the Fed increased interest rates by 75 basis points—its largest move since 1994, and the Fed anticipates more increases later this year.

Every industry has its own lingo, but there are some fields that really have a lot of jargon – and commercial real estate is definitely one of those fields. If you don’t have a background in CRE or CRE experience, it’s easy to feel overwhelmed.

Any type of property, whether it's commercial or residential, can be a good investment opportunity.  In general, commercial properties typically offer more financial reward, but like all investments, you have to understand what you are investing in.

You saved your money and did your homework. You’ve been to the bank, and your business plan screams success. Now all you need is the perfect location.

Every real estate agent hears this question asked in every setting.  Commercial brokers are no exception.  Our landlords want to know, “how’s the market” to determine how long they may be waiting for a tenant. 

While college enrollment has increased 29% since 2000, it is projected to grow only 2% by 2029. Although college enrollment numbers for fall 2020 remained largely unchanged, a completely remote semester or big decline in foreign students shifted things dramatically.

Owning real estate is a great way to invest, but like any type of investment, buyers should fully understand what they’re getting into. Some properties are great investments, and some should be avoided at any cost. Do you know the difference? It’s usually not as simple as age and condition.

So, you think you want to own commercial real estate?  You think this just might be your ticket to financial freedom?  If you are new to this type of investment, do not try and do this alone. 

For years, modern and flexible office spaces were the stomping grounds of small, boutique startups and the self-employed creative types.

Ask ten different commercial real estate professionals what will happen to the market due to COVID-19 and you’ll probably get ten very different answers.  Articles on the subject abound with phrases like “sudden and significant,” “market risks,” and “uncertainty.”

The popularity of small local retailers has risen of late, due in large part to the evolution of social media, when effectively utilized in tandem with owner attention to traditional fundamentals inherent to the business.

In today’s business climate, accurate and relevant information is crucial for success in commercial real estate investing.  Commercial real estate is a sector favorite among investors, with its relatively strong returns and only minimal to moderate risk.

A good multi-family investment should be making money, not losing it. And yet, too many times, I wind up with an evaluation on my desk for a property at the bottom of a downward spiral, one that costing more and more each year just to keep it afloat.

As we cruise toward the closing out of 2019, there is and has been a great deal of focus on the downtown State Farm1 building (demo or develop). 

I’m sure if you are like most people, when you drive through town, you ask yourself why certain real estate sits vacant.

Today, environmental concerns have become a part of common consciousness, but with respect to commercial real estate transactions, they reached the forefront some fifty years ago and have evolved since.

Given the impact of “serious” infrastructure deficits on all manner of commercial real estate and the multitude of attendant commercial transactions throughout the United States, it might prove illuminating to focus on the meaning of “serious” in this context.

It seems that everywhere you look today, it’s almost impossible to avoid hearing or reading stories about Millennials. We have all heard about how they are making huge strides and taking the lead in business, politics, real estate, philanthropy, and more.

A common question among business owners is often whether to lease or buy a property for their real estate needs.

For prospective buyers or tenants, the common criteria for formulating a search are square footage and cost, both important considerations to be sure, but here are some other factors that might be equally important to consider.

As of this writing, Spring 2018, nationally, retail is experiencing a seismic shift. Online shopping and other changes in the way people shop won’t “kill” retail, but it will change the face of it.

It goes without saying that we of Bloomington-Normal, McLean County have much to be grateful for our long-standing mix of agriculture, business, education, religious and charitable organizations, etc. 

By now, you should have had plenty of time to justify why your New Year’s resolution was way too ambitious and easily justify its early extinction, just like last year.  So as we optimistically turn to 2018, let’s look at the tax changes and the possibility of positive impact on commercial real estate.

While these series of articles are dedicated to matters concerning commercial real estate, when a business sale or purchase is contemplated, a valuation of the business must be considered either in conjunction with, if not prior to, assessing real estate needs.

You have your menu, you have your business plan, you've talked to investors or the bank and you are ready to find the real estate that meets your needs.  First, find yourself a REALTOR® that specializes in commercial real estate and scour the market for your new space.

Have you ever noticed that different professions have their own languages? I don’t speak medical very well. I speak marginal education, and I don’t speak mechanical at all. A lot of folks around here speak fluent insurance; I’m not one of them.

Congratulations! While it may seem like only yesterday, the business you started just a few short years ago on a dime and a prayer has begun to prosper.

What’s with that big box that they just can’t seem to get a tenant for?  Whether is has sat empty for years or just what seems like years, there is probably a reason that most people just aren’t aware of.