Last month there was a blog asking which areas were growing across the US. With all sincerity I responded that Detroit was a growth market. The person who posted the question asked me how many construction sites I saw in this area. I could tell he thought I was pulling ...
December 4, 2013Lynn Drake
Let’s say you hired an agent and they sent you a list of sites to review. You review the list, make your choices, and you’re ready to go. You tell the agent you could see the selected sites as early as tomorrow morning. This might be how it works in ...
September 6, 2013Lynn Drake
For those of you who have followed me on Facebook you may remember how a year ago I was doing 50 new things for my 50th year on the planet. That year was one of the most memorable years in life. I got to do some silly things like swim ...
November 21, 2012Lynn Drake
As a tenant representative this is my advice for landlords and agents representing them: If you don’t treat your tenant’s right I’m not going to warn my tenants about you before showing them your buildings. As a tenant representative I hear from your tenants why they don’t like the building. If ...
October 11, 2012Lynn Drake
Most of my career the vacancy rate in the City of Detroit has been extremely high. Yet as 2011 turns into 2012 we see the City of Detroit making real progress with occupancy. According to Co-Star which measures all of the statistics Detroit is seeing improvement quarter over quarter. The ...
September 27, 2012Lynn Drake
As a tenant representative this is my advice for landlords and agents representing them: Don’t over promise improvements when showing the space. My clients will remember what you told us and think the landlord doesn’t want them when you can’t deliver. Under sell and over deliver is always better. It does matter ...
September 13, 2012Lynn Drake
While sitting at Boston Market in Troy enjoying a chicken pot pie and a newspaper I had this uncomfortable feeling I was one of the only people in the place. How could this be? The food is good and healthy. The service is better than most family diners. Yet crowds ...
July 26, 2012Lynn Drake
Over the next few weeks, let’s exchange some lease clauses that drive us crazy. During my 25 years in corporate real estate I had to live with some mighty repugnant clauses, prohibiting such things as sub-leasing a portion of space, occupying the building on weekends or hiring a satisfactory janitorial ...
July 12, 2012Lynn Drake
Do you remember the childhood nursing rhyme, “The Old Woman in the Shoe?” She had so many children, so little space she didn’t know what to do. Even as the economy is smoothing out and rumbling forward, many tenants find themselves with more space than they can accommodate. They have ...
June 20, 2012Lynn Drake
“Promises, Promises,” is a long-running Broadway production. The title song speaks of alibis and dashed promises and yet other promises that bring joy and hope and love. Promises in commercial real estate mean nothing unless they are in writing in official “request for proposal” and “contract” format. Don’t trust anything written ...
May 23, 2012Lynn Drake