The third quarter of 2020 has been relatively stable for the Detroit industrial market. Despite enduring the coronavirus pandemic, year-over-year net absorption was over 1.5 million SF in Q3, and the vacancy trend has remained flat. This is likely because industrial facilities that supply to essential businesses were allowed to ...
Category: Industrial Space
November 20, 2020Lynn Drake
Planning next year's budgets? Curious about market rates for office or industrial space? Send your contact info to [email protected] for a comprehensive market study!
October 16, 2017Lynn Drake
Has Your Company Found Itself with Extra Space?Do you remember the childhood nursery rhyme, “The Old Woman in the Shoe?” She had so many children, and so little space, she didn’t know what to do. But eventually, her kids left the nest and she was left with all kinds ...
March 20, 2017Lynn Drake
Easily Avoidable Mistakes that are too CommonWe love our tenants, but we see them make a great deal of unavoidable mistakes. The number one mistake we see tenants make? They don’t start the negotiations until it’s too late. We often find that tenants aren’t even aware that negotiation is a ...
March 10, 2017Lynn Drake
Are you Wondering the Same Thing About Empty Commercial Space?If I had a nickel for every time I’ve been asked this question, I’d be rich by now. Time after time, people ask me: why won’t the landlord reduce the rent of an empty building? It would stand to reason that ...
February 28, 2017Lynn Drake
Sometimes, Break-ups are Hard, but NecessarySometimes a business owner will move into a building and it just doesn’t work out. It could be that the landlord acts like Scrooge from ‘The Christmas Carol’, pinching pennies and trying to charge the tenants for expenses that aren’t allowed under the lease. ...
February 14, 2017Lynn Drake
Now that the economy has improved we are seeing our clients interested in buying buildings again. I recently heard about a woman who wanted to open a coffee shop so she went to the bank first to get a loan to buy the building. Just because a building is for sale on ...
November 21, 2016Lynn Drake
Do you have an office lease expiring soon or do you want to open a new office in Detroit or Troy, MI market? Having an idea of the market rates will help you with planning. If you are interested in finding out the rental rates please send us an email ...
November 7, 2016Lynn Drake
Is your rent above market? Is the space too large or too small? Do you know when the lease expires? Does your real estate agent represent your firm or the Landlord? If you don’t know the answers to these questions, Call Compass Commercial 248 817-5400 so we can watch out for your firm! At Compass Commercial, LLC - ...
October 30, 2016Lynn Drake
This is what that scenario of to small of office space typically looks like: You may stay and pay the “holdover “charge, which is typically between 125% to 200% of your current rent. Or you go to a month-to-month lease offering you no protection if your landlord asks you to leave, and even allow ...
August 1, 2016Lynn Drake