November 28, 2018Lynn Drake
CRE Definitions Series: Subleasee When a tenant leases space from another tenant whose lease term hasn’t expired (which is called a sublease) the new tenant is referred to as the sublessee.
November 26, 2018Lynn Drake
I had the opportunity to interview Todd Fenton the Economic Development Manager at City of Royal Oak a week ago. While we were talking the Mayor, Mike Fournier stopped by too. When we think of exciting change in the Detroit area we often focus on Detroit. Royal Oak has so ...
November 20, 2018Lynn Drake
CRE Definitions Series: Sublessor A tenant who finds someone else to take over their lease agreement is called the Sublessor.
November 19, 2018Lynn Drake
CRE Definitions Series: Tenant Improvements A list of improvements made to a leased space such as building walls, replacing flooring, ceiling tiles, fixtures etc. The landlord or the tenant may do the work. Either party may agree to pay for the construction. All improvements should be identified in the lease and ...
November 16, 2018Lynn Drake
Interested in learning more about commercial real estate? Whether you are looking to move soon or just investigating your options, it is important to stay informed. Because we are a tenant-only representative your interests are our number one priority. If you want to stay informed about commercial real estate, sign up for ...
November 12, 2018Lynn Drake
As promised the following is an example of a completed financial summary for an industrial property. Please note utilities are not included because the office to warehouse ratio is usually different in most buildings and the ceiling height of the space can also make a big difference in the costs. ...
November 6, 2018Lynn Drake
CRE Mistakes Series: Built In Furntiure Sometimes tenants ask the landlord to build in the furniture. I was working with a client who wanted a built-in reception desk, walls and then desks behind the walls. I suspect he thought this was going to be free as it was part of the ...
October 23, 2018Lynn Drake
CRE Definitions Series: Request for Proposal Request for Proposal (RFP) is a written summary of terms for an agreement where one party would be willing to enter into the agreement with another party if the terms work for each party. The RFP is not binding by either party. I always use ...
October 19, 2018Lynn Drake
"CRE Mistakes Series: Office Neighbors Once upon a time I was the bookkeeper for a company that sold singing telegrams! We had beautiful offices in a high-rise building. To be hired one had to audition which could be very loud. The neighbors often complained so all interviews had to ...
October 9, 2018Lynn Drake