Gaughan Companies Offers Refreshed Space for a Revived Community
Not long ago, the historic All Saints Church in Northeast Minneapolis was on the verge of complete closure. But with the recent addition of two new priests from the Fraternity of St. Peter the congregation has more than tripled just as the church celebrates it’s 100th anniversary.
To help support this new growth and activity, Gaughan Companies is helping the community refurbish their former elementary school at 434 5th Street Northeast to make way for neighborhood events and programming. The building sits adjacent to the century old church and hasn’t seen use in many years.
Our Construction Services team has been on site renovating the dormant schoolhouse, repairing water damage, and preparing the building to accommodate a new wave of new usage.
Check out the progress over at our Facebook page and stay tuned to see what projects we take on next.
Higher Interest Rates Stalls Growth in Commercial Real Estate Values
The recent but steady climb in interest rates is creating downward pressure on commercial real estate values and threatening to stall four years of growth.
https://m.us.wsj.com/articles/a/SB10001424127887323998604578567911590094962?mg=reno64-wsj
Expect Distressed Sales to Slow in Twin Cities as Banks Recover
“The recession negatively affected local, regional and national banks in Minneapolis/St. Paul and all commercial real estate product types. A wide range of real estate owned (REO) assets have sold in recent years, including single- and multi-tenant office buildings, industrial buildings, convenience stores, office condos, residential condos in bulk blocks, raw land, a campground, a historic warehouse, hotels — just about everything.” Read more.
Click here to download the full article from the May 2013 issue of Heartland Real Estate Business.
Rising Land Costs in U.S. Hits Builders
The recent upturn in the economy has sparked rising land costs for builders. Right now the effect is mainly seen on the price of single family lots. But rising land prices may hit multi-family builders as well as the economy continues to improve and investors seek to take a profit on land purchased during the downturn.
Homeowners Association Financial Resources
We’re proud of our Homeowners Association Financial Services Teams. We promote accurate and concise communication with the HOA Board and owners as this is an important facet of successful relationships within the communities we manage. It is our goal to protect, maintain and enhance the value of every Homeowners Association.
Transforming Excess Office Space into Rental Housing
Transforming excess office space in downtown Minneapolis into rental housing has become a recent commercial development trend. There is an interesting news article in the Star Tribune on how the oversupply of office space in downtown Minneapolis is being converted into apartments to meet the housing shortage.
Check it out here: https://www.startribune.com/local/minneapolis/200652361.html?refer=y
Investing in Sustainable Real Estate
Two standard criteria in real estate investment have always been the location and quality of the property. However future investors may add a new criteria and this is looking at how “green” the property is when making a decision to purchase. A recent article in National Real Estate Investor, When Will Sustainability Matter as Much to Investors as Location and Quality?, seems to indicate that day is soon approaching.
Distressed Real Estate Sales Trends – A Minneapolis Market Commentary
John Chirhart and Lou Suski of the Gaughan Companies/CORFAC provide a market commentary of “Distressed Real Estate Sales Trends” for the Minneapolis and St. Paul market in the March issue of Heartland Real Estate Business.
Gaughan Companies Teams up with Feed My Starving Children
Since its founding in 1987, Feed My Starving Children has given hope to millions of the world’s hungry. In early 2012, Feed My Starving Children passed a milestone: 600 million meals produced over its history. This charity’s successes can be seen through the dramatic changes in numbers of meals produced, volunteers that participated, employees at work, partners lending funds & growth of their annual budget.
BioBlog #1: Karen Carlson
This week’s blog is the first installment of our BioBlog Series. At Gaughan Companies, we believe our talented, passionate, and experienced employees are what make us so successful – so we’d like to share with our blog audience a little bit about these wonderful people. We are proud and pleased to kick off the series with our Controller, Karen Carlson. Check it out…
