Youthlink has been a partner of IAGs for several years. Working to help homeless and at-risk youth is a passion for our company. We have added another layer to our partnership with Youthlink this summer. David Buckman has been hired by Youthlink to provide construction project management of the remodel and expansion on their Minneapolis location. We are excited to help our friends and partners reach their commercial real estate goals.
We would like to celebrate two more deals on behalf of our clients: Burr Oak Group and Any Lab Test Now.
We just finished representing the Burr Oak Group for 2,100 sq. ft. on a new long-term office lease at Broadway Ridge in Minneapolis.
Brian Beeman represented Any Lab Test Now on a lease renewal in Plymouth.
Remember IAG Commercial would love to partner with you on your next commercial real estate transaction
Today I had lunch with a long-time CFO client and now friend of mine. He made the comment that he likes our advisory model but has a tough time defining what exactly we do. This was helpful and made me think about why we exist. Our roots started because we felt there was a need in the marketplace for a third party that just represents the end-users of space. This includes corporations, government entities and non-profits. Why is this important?
The majority of the industry is driven by the institutional owner that awards third-party service companies with their leasing, management, maintenance, construction and investment services. This fuels the revenue stream for these third-party service firms but causes conflicts when the end-user is up against the other side of the company who may be trying to represent them. We experienced this first hand many times in our career and it is not best for the end-user.
This passion to provide advisory, transaction and single-sided representation drives everything we do for our clients. This is why our clients like our approach. Large or small, we are there for them on planning, leasing, selling, building, managing or providing project management oversight. Call today if you would like to discuss how we may be able to help your organization.
We use the term often but what does "tenant representation" really mean? We believe tenants need to have representation when they look for a new location or renew or expand their current lease. Knowledge is power for all of us and an informed decision makes for a better decision. We can organize the process, research the market, define key lease items to decrease your risk and help negotiate the lease. We can also assist to help you manage your time and money so your tenant improvement budget is spent wisely and your space is ready to go the day people show up to occupy the new space. Let us know if you would like to sit down to discuss how we may be able to assist you!
We are so excited for our clients and friend Youthlink as they broke ground on their new downtown facility last week. This facility will be instrumental in providing services to homeless youth in Minneapolis. It has 46 residential units as well. This 17-million-dollar project is a great partnership between Youthlink, Project for Pride for Living (PPL), and local government. IAG Commercial congratulates Youthlink and PPL on this exciting project! Thank you for all you do for our community.
The snow on the ground this morning has us thinking about homeless and at risk youth. This is a cause near to our hearts which is why we partner with Youthlink. For this reason, every year our founder and president, Jeff LaFavre, camps out in Minneapolis to raise money for this cause. As a result of this fundraising, Youthlink is able to provide support services to vulnerable youth. Please partner with Jeff and IAG Commercial and contribute to this great cause.
Tax Increment Financing (TIF): What is a TIF and how can it help with your commercial real estate developments?
You may have heard other developers and commercial real estate brokers talking about the use of TIF, an abbreviation for Tax Increment Financing to help finance their deals. We are going to go through a series of blogs explaining What TIF is, and how it can be used to help with your real estate planning.
TIF is a gap financing tool used to help the developer or company in meeting the financing gap in a development or redevelopment project. There are different kinds of TIF. For example, Economic Development TIF Districts are used to discourage commercial or industrial relocation; to increase employment or to preserve or and enhance the tax base. Hazardous Substance sub districts and Soil Conditions districts are used for the removal or remediation of hazardous substances, pollution or contaminants. Housing Districts are intended for occupancy, in part, by persons or families of low and moderate income. This is called Affordable Housing. Redevelopment TIF districts are used for areas where most of the land has been developed but usually where most of the buildings are substandard. Renewal and Renovation districts are for areas where most of the land has been developed and where a portion are substandard or in need of rehabilitation.
Disclosure: Nothing in this blog is meant to be legal advice. Please consult with your attorney and be sure you fully understand TIF before considering using this type of financial tool.