Meet the Landlords: Tom, Dick, Harry, and Pat They are all commercial real estate landlords, and if you don’t learn anything about them before you lease space, you might make a leasing mistake—a mistake that will cost you lots of extra money and stress! My clients often ask me if they need ...
Category: Commercial Real Estate
August 13, 2019Lynn Drake
Your commercial agent and your attorney should help you develop the list of things you need before making an offer, but here are just a few to consider: Are you qualified for the mortgage? Will the building meet the current and future needs of your business? Is the building zoned for your use? If ...
August 6, 2019Lynn Drake
Never in my life have I loved a hotel as much as this one: The Rees. For starters, it is in Queenstown, which is a fabulous city. The best part is the architecture! The building is built on a hill and has no interior rooms. Every room has a view ...
August 1, 2019Lynn Drake
Next up is Pat. Pat took over managing the family’s commercial building when her husband was put in jail. Let’s just leave it there without any further explanation. On my first call to Pat, I thought perhaps she lived in California because she was quoting $1.00/s.f. and Californians calculate the ...
July 25, 2019Lynn Drake
A contingency can be thought of as an exception in a real estate contract (a kind of, “I will do this, if you do that” or “if you don’t do this, I won’t do xyz”). For example: We will buy this property if the roof is in good condition. We ...
July 23, 2019Lynn Drake
USA/Canadian fireworks from the roof of the Millender Garage for a 2017 Fundraiser during the Thanksgiving Parade.
July 11, 2019Lynn Drake
I often get this question on leasing and buying buildings. No matter which side you are on, you will convince yourself you are right. The issue with buying a building is that sometimes the buyer paid to much and can’t afford to sell the building for less. Many people who ...
July 9, 2019Lynn Drake
Motor City Dance Factory is a client of Compass Commercials. She leased an older flex building and turned the space into what it is today. What do you think?
July 2, 2019Lynn Drake
We ate lunch at a rotating restaurant on top of a sky scraper, which was lot of fun. The views were great, but what I found most interesting was the glass sink in the bathroom. While it looked beautiful, it wasn’t very functional. The water pressure caused the water to ...
June 19, 2019Lynn Drake
There are several options for putting forth an offer to purchase: a written purchase agreement an email or letter detailing the terms a letter of intent I generally don’t like to start with a purchase agreement, as commercial contracts have so many legalese that most people may get lost in the language. ...
June 18, 2019Lynn Drake