The first step is to do some soul searching. Is it better to lease or buy a building? Is your business still growing? If so, how much time do you have until your team outgrows the building. What is the cost to lease versus the cost to buy a building?
Category: Purchasing a commercial building
January 24, 2019Lynn Drake
Buying a commercial building for your business is a big step, with many aspects to the process. PART ONE explained the criteria you need to set before you begin looking to buy a commercial building for your business. PART TWO covered locating properties, what you need to know before making an ...
December 15, 2017Lynn Drake
PART ONE You’ve made the decision to purchase a building for your business. Now what? Where do you start? How does it happen? What do you need to know before you sign on the dotted line? This three-part blog series will help you understand. An investment building is usually priced based on the cash ...
October 3, 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
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
What will happen if you hired a professional tenant representative to help you with your commercial real estate needs? Choosing to do so mitigates your risk: You can continue doing what you do best, your business, or you can relax as we handle all of the details, freeing you from the hassle of ...
July 25, 2016Lynn Drake
Before we work with any client looking to buy a building, we ask them to go to the bank and determine how much of a loan the bank will give them. Some of our clients end up talking with a teller or bank manager who doesn’t really know how to do this. ...
July 18, 2016Lynn Drake