Commercial Construction

american_girl_nyc_interior2

/ / / /

Avoiding Commercial Construction Remodeling Pitfalls.

, , , ,

american_girl_nyc_interior2For a number of reasons – usually cost, location or a lease agreement – commercial real estate owners are opting to refresh or remodel their retail stores, restaurants and hotels instead of building new-construction projects.

In fact, just recently Disney announced plans to completely transform its 340 stores in the United States and Europe from Disney Stores to Imagination Park, http://bit.ly/14YNxn.

Regardless for your reason to remodel, you need to realize that a renovation is a completely different animal than building new construction.

For example, during a new restaurant construction project, owners are responsible for providing the majority of the supplies and drawings while the general contractor executes the work.

Read More
distressed_value_place_entrance

/ / /

How to Stop Further Deterioration of Distressed Commercial Assets

, , , , , , ,

distressed_value_place_entranceI’m not going to sugar coat it. Whether you’re a bank with distressed assets on your balance sheet, or you’re a real estate investor/developer who purchased a foreclosed commercial property, creating a viable workout plan can be an uphill battle. Each passing month brings further physical deterioration of unmaintained assets.

However, there are ways to stop the bleeding and minimize the costs of owning, maintaining and repositioning distressed and foreclosed commercial assets.

First, align yourself with a general commercial construction contractor familiar with completing distressed commercial properties. According to the fall 2009 issue of Development magazine, while hotels and retail properties are the most problematic in terms of default, foreclosure or bankruptcy, office distress is up 118 percent year-to-date in 2009 versus 2008. So make sure your general contractor specializes in the asset class of your distressed holdings.

Read More
american_girl_nyc_interior

/ / / / /

Commercial Construction Development: Red flags retail developers should look for in vetting a general contractor

, , , , ,

There’s an old adage, “Better to be silent and thought a fool than open your mouth and prove it.” That may be true in some life situations, but not when it comes to hiring a firm to complete your next retail construction project.

Red Flag #1: Be wary of the general contractor that has no questions, exclusions or qualifications and agrees with all requests. A general contractor who just submits a bid without certain questions or qualifications may not understand the complete scope of work and schedule.

Read More
blog_5

/ / /

What a Chicago 2016 Summer Olympics Means for Chicago’s Retail and Restaurant Construction Industry

, , , , , , ,

blog_5

There’s no doubt that local businesses will have much to celebrate if on October 2, 2009, Chicago wins the 2016 Summer Olympics bid. But just how would Chicago hosting the Olympics affect the city’s restaurant and retail construction activity? Here are a couple of my predictions….

  1. Given the fact that most national and international retailers already have stores in Chicago, most retail construction will involve remodeling and expansion of existing stores.
  2. Ditto for restaurants. I do not anticipate new restaurateurs signing long-term leases for a two-week event.
  3. Retail and restaurant construction would most likely start in 2015.
  4. The hottest ticket in town for retail and restaurant owners will be a City of Chicago “Express Permit.” Historically, retail and restaurant renovations/expansions take 3 to 9 months after their building permit is issued.
  5. Larger general construction contractors that have been bidding on smaller retail and restaurant construction projects “at cost” to maintain their crews, will return to building larger projects like the infrastructure and buildings for the Olympics and leave the construction of stores, restaurants and hotels to general contractors that specialize in this type of construction, like Englewood Construction.
Read More
blog_4_water_tower_place_chicago

/ /

Retail Development and Construction: Going Vertical

, , , ,

Is Your Vertical Retail Construction Project a Mess or a Success?

blog_4_water_tower_place_chicagoSome may disagree, but we at Englewood Construction think the challenges commercial developers face in opening a store in a vertical mall are more complex than any other type of retail store construction.

Why? Because a vertical shopping center can be made of many floors within a tight city block foot print that has only one opening (and if best two elevators) where all goods, materials, and debris can enter and exit. Coordinating traffic and usage between retailers, building operators and construction personnel can make or break the project.

Read More
«‹ 9 10 11 12