Lynn Drake’s status is well known in the industry: She’s the commercial realtor focused on maintaining “true north” for her corporate clients. It’s a reputation built on 35 years of commercial real estate experience. Lynn became a commercial realtor in 2001 after 15 years in corporate real estate. Thus far in her career, Lynn has successfully completed over 1,500 real estate transactions ranging from small business tenant leases to the sale and purchase of industrial complexes.
17
Mar2018
15
Mar2018
A listings agent’s job is to sell/lease you the space. They often exaggerate and tell the tenant the landlord will do anything to get them as a tenant. These are often verbal discussions and none of it makes it into the lease. The tenant is then mad at the owner ... Read More
09
Mar2018
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08
Mar2018
When I opened Compass Commercial in 2010, my goal was to provide a safe space for women and minorities to work. I joined ITRA Global because it is unusual to find women in Commercial Real Estate, much less to find them owning the business.I remember taking Marilyn Nix, from Real ... Read More
07
Mar2018
The representation of opposing principals (buyer and seller) at the same time. In brokerage, many states get around this by saying that the agent aids the buyer but is the agent of the seller only.
Michigan law states that if a brokerage firm has a listing, the rights of that landlord ... Read More
01
Mar2018
A must-read practical guide for do-it- yourself enthusiasts & aspiring real estate agents
28
Feb2018
The time in which a landlord and tenant enter into an agreement to lease space. This timing should be identified in lease agreement signed by both parties. For instance, if I leased an office for one year starting February 1, 2018 the lease would expire on 1/31/19. The lease term ... Read More
20
Feb2018
The Challenge:
The Girl Scouts had a long-term lease at the Fisher Building in Detroit Michigan. Their rent was significantly over market and they had more square footage then they needed.
They also faced many issues as a tenant, including: Bankruptcy of the building, conti-nual maintenance issues which caused property damages to ... Read More
15
Feb2018
When looking for space keep your eyes wide open. Put your phone away while doing a walk-through. If the space is an office building and carpets are stained, don’t expect them to be different when you move in. If ceiling tiles are stained, either the landlord didn’t fix the roof, ... Read More
09
Feb2018
“Building Standards” refer to the finishes a landlord uses in the building. For example, the entry doors can be wood, 8’ or 10’ tall, glass, or wood with a side window of glass. When you walk through the building look up to the ceiling tiles and down at the type ... Read More