Leasing or buying warehouses in Minneapolis is easy when business owners are properly represented. Purchase and lease agreements can blow up with one minor missing detail. Commercial real estate agents are crucial and become a key component to showing businesses their bottom line. Darrin Dufresne, president of Blue Lake Commercial Real Estate is an expert. Call 952-405-8292 or email firstname.lastname@example.org.
Warehouses are used for everything from producing wine to manufacturing automobiles. Commercial transactions can be complicated depending on the type of business. There are a lot reasons Minnesota businesses may need to lease warehouse space. The volume of a business generally dictates the amount of fruitful square footage.
Using California as an example; vineyards come a dime a dozen. Owners and handlers seek out space per barrel. Interestingly enough, there are 17 plus wineries in the state. Minnesota’s contribution to the wine industry accounts for a very minimal percentage of wines in North America.
California winery owner, Delia Viader knows what a raw deal looks like. According to the New York Times, “In one day, Viader lost 84,000 bottles. She had just been about to reap $4.5 million by shipping the wine to restaurants, distributors and exporters. And then poof. “I had absolutely nothing,” she said.
When one business takes a hit, it has a rippling effect. If the waves are hard enough it could mean the end for some of the most successful entrepreneurs.
According to the New York Times, Once Delia had propped up the winery’s operations, she went after her insurance company. The situation was even worse than she had feared. She said she now believed that her broker made a mistake in writing her policy, limiting losses to $500,000 for wine that was “in transit.” Her insurer deemed the wine to be “in transit” because it was at a storage warehouse; Ms. Viader initiated litigation, arguing that the wine wasn’t “in transit” but rather awaiting hand-labeling while in storage. The case dragged on, and Ms. Viader racked up legal fees. Her “business interruption” insurance policy – devised to cover lost income after a disaster – did not kick in, because her winery, technically, was still operating. In the end, she settled: “It took two and a half years to get the insurance to pay less than 10 percent” – less than $500,000 – “of the claim.”
There are some parts of a commercial real estate transactions that solely depend on the buyer, leasor, and or business owner. Darrin Dufresne, knows his clients depend on his expertise from the beginning to the end of every signed, sealed, and executed transaction. Leasing or buying warehouses in Minneapolis? Call Darrin Dufresne, president of Blue Lake Commercial Real Estate 952-405-8292 or email email@example.com.