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 ...
Tag: buying a commercial building
December 15, 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
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
Are you a new business looking to lease space? Most landlords require you to provide financial statements from your accountant before making decisions on whether or not they’ll lease to you, or how much of a security deposit will be required. If your business is brand new, try and find ...
January 25, 2016Lynn Drake
Each year, I’m amazed at the new things I see happening with tenants. One of the largest buildings near us in Southfield, has taken the relocation clause to new heights. A tenant in the building worked diligently with their landlord to get their proposed office space just right. No sooner ...
August 17, 2015Lynn Drake
Our new offices are in a Class A building. The suite looks more like an art gallery than an office space, with high ceilings, and an 8-foot glass wall along one side of the office. The only thing missing is a gym—good thing we’ve got one right next door!Beginning your ...
May 22, 2014Lynn Drake
Most people don’t really have any concept of the amount of time and effort it takes to line up a tour for prospective clients. Commercial real estate is quite different than residential—if only our work was as easy as residential, where all you have to do is call and get ...
May 7, 2014Lynn Drake
When we leased our last office, we were so excited to move out of my house and into an office space. We thought that we would be there for many years. However, two short years later, we ran into a couple of bumps in the road. For starters, our building ...
April 2, 2014Lynn Drake
There is much debate about the open floor plan. As you read recently, Compass Commercial moved offices last year, and as we began to search for space, I wanted one that would attract a younger generation of workers—which meant going with an open floor plan. Are you considering doing the ...
March 19, 2014Lynn Drake
Some of us speak Greek, Spanish, French or Mandarin, in addition to English. We think that if we can speak these other languages, surely we can speak real estate. But that’s where we’re wrong. See, not everyone can speak real estate. That’s why it’s important to work with a tenant ...
March 5, 2014Lynn Drake