If you’re looking to purchase or lease space for your business, there are a host of hoops you must jump through to secure land. Proper zoning is one of them; and it’s extremely important for selecting and protecting your business’s location. Despite this importance, some owners blindly purchase or lease property without first doing their homework. In order to avoid potential trouble down the road, it’s essential to review zoning guidelines and restrictions before settling on a space that is right for you.
Zoning is simply the regulation of private land by public authorities. It allows municipalities to create uniformity in certain neighborhoods by controlling how you can use property and what can (and cannot) be built in a given area.
There are a variety of zoning categories, including:
These categories are often further broken down into subcategories. Each may come with its own set of restrictions, such as:
While zoning disputes can occur between two private individuals, more often they occur between a local government and business. Disputes that could affect a business might include:
If you’re in the market for commercial or industrial space, it’s imperative that you’re crystal clear on the zoning of the area. Commercial and industrial zoning restrictions are some of the most stringent, and it’s therefore important to work with a reputable commercial real estate broker that has experience navigating local ordinances.
With several decades of experience representing business owners in South Florida, Morris Southeast Group is expertly positioned to find the perfect space for your company. Our team is well versed in all complex zoning restrictions throughout the area. Give us a call at 954.474.4776, reach Ken Morris on his cell at 954.240.4400, or email email@example.com today.
Broward County’s office market continues to heat up like the South Florida summer, with decreasing vacancies and increasing rental rates. Broward County’s office sector performance is a big story in an area of very positive commercial real estate headlines. It can be argued that South Florida trails only the two Bay Area bellwethers, San Francisco and the Silicon Valley, in property performance nationwide. Office rental rates in the county — CoStar reported that the market’s average rate increased 1.4 percent during first quarter to $25.14 per square foot — are most likely reaching the top of the arc in the present economic cycle.
Broward County’s office market vacancy decreased 20 basis points to 11.3 percent during first quarter on the strength of more than 401,000 square feet in net absorption. Comcast’s 70,000-square-foot lease at Miramar Centre Business Park, Building 3, in the Southwest Broward submarket was the largest tenant signing of the opening quarter, followed by Nuance Communications’ 17,523-square-foot deal at Sawgrass Lake Center in the Sawgrass Park submarket and American Resource Management Group’s 13,205-square-foot lease at 1401 Building in the Cypress Creek area. Lack of new office development in Broward County, fueled by the overall office space consolidation trend and the high price of real estate in South Florida, constitutes a major factor in the sector’s advancement.
Read full article here.
This is a summary of the article “Broward County’s Office Sector is Operating At Peak Performance”, which originally appeared in SouthEast Real Estate Business, July 2016.
So you’ve been searching for months to find the perfect space for your business, and you think you’ve found it. Time for a celebration, right? Well, not necessarily. If you’re not careful, you could end up with a defective title, which can cause significant problems down the road.
A defective, or unmarketable title occurs when there is a serious omission, error, or other complication related to the ownership of a piece of property. A title defect can significantly impede your ability to purchase or resell your property, and banks will often refuse to provide financing for commercial real estate that has a defective title.
The following are just a few of the types of title defects that you can run into when purchasing property. Be sure to work with a reputable and experienced commercial real estate agent throughout the entire buying process to ensure that your best interests are protected.
A land record search can unearth information about any existing liens that may be present on a property. A title search should be able to identify any loans that should be paid, satisfied, and released prior to purchase. Examples of liens that a title search should disclose include:
In certain scenarios, the person whom you’re buying from may not actually own the title to that particular property. So-called property owners should not be considered owners without a thorough examination of estate and will records, which should also be part of a title search. Tracking down heirs can be time consuming, but it’s necessary in certain scenarios to ensure that a commercial property is free and clear of any title defects at closing.
Incorrect property records can further complicate a real estate transaction, because a title search may not discover these items. Title insurance should be purchased to protect buyers against these types of defects.
It can be very easy to get caught up in the emotion of a seemingly-perfect property when looking for commercial real estate. But you should never forget to do your due diligence on important aspects of the transaction, including a thorough title search.
If you’re interested in purchasing commercial property in Miami-Dade, Palm Beach, Broward, or surrounding counties, partnering with Morris Southeast Group can help make the entire process go smoothly. With decades of experience matching business owners with the right commercial property, we are ready to help you find your next location today. Give our team a call at 954.474.4776, reach Ken Morris on his cell at 954.240.4400, or email firstname.lastname@example.org to get started.