Frank Jermusek

Lawyer and Commercial Real Estate Professional

Frank Jermusek discovered his interest in law while in college at The University of St. Thomas in St. Paul. While studying Business at St. Thomas, Frank Jermusek was at the same time working for the Minnesota Investment Firm, Baker Investments. While his main work consisted of managing investments of the company, Frank began working on complex commercial transactions.

About Frank Jermusek

The Jermusek Law Firm, LLC

After studying law at William Mitchell, Frank Jermusek was hired immediately to work as an attorney at Leonard, Street and Deinard. In 2006, he founded his own law firm, The Jermusek Law Firm, LLC, which is based out of Minnesota.

The company is focused on providing sophisticated, creative, and practical solutions for clients dealing with real estate, business, and lending matters. Frank Jermusek has mainly focused his legal practice on business, real estate, lending, and golf/hospitality matters.

SVN | Northco

Working closely with his other Business, SVN | Northco, a real estate and investment firm also operating in the Minnesota area and Twin Cities, Frank Jermusek’s law firm will help individuals and companies across the greater Midwest handle legal work and strategies for real estate transactions, business transactions, and litigation for both.

In terms of real estate, Frank Jermusek’s firm will provide a practical solution to legal matters in purchase & sales, development & construction, debt & equity finance, leasing & property management, loan workouts & restructuring, commercial lending, 1031 Exchange, and, another speciality, Golf Course & Hospitality. In business, his firm will handle the legal work for business formation, contracts, mergers & acquisitions, and corporate finance.

In his work as a legal consultant and attorney at law, Frank Jermusek hopes to provide his clients with planning and preparation that will maximize the profit for their business or institution, and deliver the best possible results for that individual company or service.

Connect with Frank Jermusek

Understanding Mixed-Use Development

Understanding Mixed-Use Development

There was a time where business offices were kept separate from other types of developments, such as residential and entertainment. The grouping of a particular type of office (e.g. law or medical) was done primarily for convenience. It was also done for status....

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A Look at the Types of Offices & Classifications

A Look at the Types of Offices & Classifications

The term “office” has one meaning to the public, and another to a business owner. To the public, it means office space, where employees go to perform a variety of tasks. For the latter, it means a space in terms of size, amenities, security, rent and more. There are many types of offices that are customized to their industries and/or needs, which include classifications. First, let’s break down office classifications.

 

Class A — This is the highest classification. These offices are furnished, are in high-rise buildings, offer security on premises (or security features) and have high-rent tenants. They are located in the business district and are maintained by a property management company.

 

Class B — A downgrade from Class A, this class of office space is nice but without the high-end fixtures or a large lobby. Class B’s attract medium-sized businesses and are located in the suburbs (e.g. office parks). Age is another factor; Class B’s are ten years older than Class A’s.

 

Class C — This is the lowest class. This office space is in a less-desirable location and in need of repairs. Small businesses are attracted to this class due to the low rents. Class C’s are older than the other classes (20 years) and usually end up being converted to residential units.

 

Now that we have gone over the office classifications, let’s talk about the types of office spaces.

 

Flex Space — Also called co-working space, flex space is an office that offers flexible leasing terms and a number of desks and amenities. It is perfect for startups that aren’t sure how long they will need a workspace, especially if they are growing at a fast rate. Multiple companies can utilize the workspace, which promotes social interaction among tenants. It usually has a class B rating, since the rents are low and there aren’t many amenities.

 

Executive Suite — These have a Class A rating, as they are fully furnished (phone and internet ready) and are located in an impressive building. They can take up an entire floor in a building due to the company’s size and come with flexible leasing (e.g. a 9-month term).

 

Traditional Office – These majority of this type of office is utilized by financial services companies and law firms. They offer offices with minimal windows for client conversations, cubicles and shared spaces (e.g. a conference room). Traditional offices can be rated Class A or B.

 

Creative Space — This is the opposite of a traditional office. It caters to companies in the creative and tech industries where there is a focus on collaboration. You’ll find high ceilings, “uplift desks,” hardwood floors and multi-function spaces. Think of industrial spaces with exposed pipes or beams as well as a mixture of materials. The rating is usually a B, but can also be an A (new construction).

Understanding Adaptive Reuse in Commercial Real Estate

Understanding Adaptive Reuse in Commercial Real Estate

There are many old buildings, such as warehouses and factories, that are no longer in use. While vacant, they attract vandals and fall into disrepair. Also, the owner is losing money each month without a tenant. Adaptive reuse can turn them into profitable properties through renovation and/or restoration. This repurposing of space has become very popular in the past twenty years, especially in commercial real estate. So, why renovate when a developer can demolish and rebuild? Below are some reasons why adaptive reuse is the better option.   

 

  1. More Economical to Renovate — Most developers opt to tear down a building and build a new one to get more money in rent and to add more amenities. However, it is more economical to renovate to avoid demolition costs as well as the rising costs of labor and construction materials. This is not to say that there won’t be “surprise” costs during the project (e.g. upgrading the electrical to meet code), but these costs are far less expensive than a new build because the structure is sound and the electrical and plumbing lines are already in place. Also, developers can save on reusing materials, such as hardware, which will preserve the character. Plus, it is hard to find the same quality.
  2. A Prime Location — In real estate, location is everything. In many urban areas, there is not enough space for new construction. By renovating a property, you will be gaining a prime location and possibly a landmark.
  3. Maintain the Character — When a building is renovated, it is given a new lease on life. Old buildings have a rich history that deserves to be preserved, albeit in a new way. It is important to find out if the building is listed on a historical register, which would mean strict municipal codes. The historical preservation process could hinder the project schedule as well. It is best to work with a landmark expert to ensure all codes are met.
  4. Customize Spaces — A warehouse or factory has plenty of space that can be customized for a tenant. For example, a warehouse is perfect for a gym or a restaurant. It can be a mixed-use space to house retail, offices, an art gallery … etc. Architects must be creative when it comes to solving renovation issues, such as lack of light or no handicap-accessible entrances, while honoring the architecture. To add more natural light, an atrium can be built, which would be a unique feature to the building.
  5. Creative Opportunities — There are many opportunities to be creative when it comes to adaptive reuse. Interior designers can mix materials, such as wood and metal, for a distinctive look. Also, the use of bold colors can enhance the building by complementing the facade or providing a stark contrast. The facade can also be utilized to brand the business (or businesses) with signage that reflects the year (or period) the building was built.