In late 2013, we moved into a really nice new office space. You probably think it was a slam-dunk, since office space is what we do for a living. We might know our stuff, but that doesn’t mean our search was a piece of cake. For one reason or another ...
February 20, 2014Lynn Drake
I’ve lived in Troy, Michigan for most of my life. If you ask me, it’s a great community with great amenities. Last year, Troy High School was listed as one of the top 20 best high schools in the United States. We have great shopping – people come from miles ...
February 5, 2014Lynn Drake
Crain’s Business recently had an article about Oakland County Executive L. Brooks Patterson. I’m a huge fan of Patterson, but have to admit I was a bit perplexed when I saw his comments about Dan Gilbert. According to Patterson, Gilbert’s move to recruit suburban firms to move downtown seemed to ...
January 24, 2014Lynn Drake
Last month there was a blog asking which areas were growing across the US. With all sincerity I responded that Detroit was a growth market. The person who posted the question asked me how many construction sites I saw in this area. I could tell he thought I was pulling ...
December 4, 2013Lynn Drake
While many people might consider agents to be animals, the animals I’m referring to here are the 4-legged furry types. In 2012, I ran a column asking for the oddest lease clauses that people came up. The most amusing answer I received was about a location where the tenant wanted ...
November 22, 2013Lynn Drake
There are several ways to protect your business when it comes to the improvement area in the lease. In some leases, the landlord won’t put together plans for the space and won’t cost them out until after the lease is signed. This isn’t the way we like to work, as ...
August 8, 2013Lynn Drake
We 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. If you’ve been following my earlier posts you know this is something we’ve run into many times over ...
July 26, 2013Lynn Drake
How much should one expect to pay for a security deposit? Well, like most things in real estate, everything is negotiable. As tenant representatives, we always request that our client not have to pay a security deposit. In the case of some of the largest organizations we represent, we are ...
July 12, 2013Lynn Drake
I live just outside of Rochester Hills, MI. Our downtown is a quaint one, recalling dreams of Americana with shops and restaurants galore. About a year ago, it was decided that the main street – the heartbeat of downtown Rochester Hills – should be replaced. Getting downtown became a nightmare. ...
June 6, 2013Lynn Drake
With the exception of a few lucky cities whose markets are raging back to life, we don’t expect vacancy rates for most US cities to ever go below 10%. Why? For starters, many older buildings need to be torn down. Vacant buildings quickly become homes to homeless people unless someone ...
May 30, 2013Lynn Drake