A year ago, a prospect was referred to me for a project. She was already in talks with another agent; however, I recommended someone more suitable to help her. She met my contact and didn't like it when he provided her with the true value of the building. She then listed the building with the initial provider for more than ...
Tag: Commercial real estate
April 14, 2020Lynn Drake
Aras, Troy MI The Challenge: With the help of Compass Commercial, Aras opened a 1,000 s.f. office in Troy, MI in 2014. However, within just a couple of years, Aras needed to double their size, and by 2018 they needed a space for 40 people. What We Did: Compass needed to identify ...
March 31, 2020Lynn 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
Interested in learning more about commercial real estate? Whether you are looking to move soon or just investigating your options, it is im-portant 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 ...
May 15, 2018Lynn Drake
The time in which a landlord and tenant enter into an agreement to lease space. This timing should be identified in lease agreement signed by both parties. For instance, if I leased an office for one year starting February 1, 2018 the lease would expire on 1/31/19. The lease term ...
February 28, 2018Lynn Drake
If you have a business in Michigan like I do, your heating bills are much more money in the winter than a business that operates in Arizona. To calculate your heating and cooling costs, you first need to know how much per square foot the landlord is charging. In Michigan, many ...
February 22, 2018Lynn Drake
In the market for a new office, or have some extra space available? Many people might look in the Yellow Pages, some will ask friends. Whatever system you use to find a realtor, make sure to screen them before hiring. Commercial realtors come in every shape, color, size, and age. You ...
February 7, 2018Lynn Drake
Real estate agents who list commercial real estate for lease or sale. Often prospective tenants don’t realize that the landlord representative works exclusively for the landlord. Their job is to get the most favorable terms for the property’s owner.
February 5, 2018Lynn Drake
A Tenant Representative is a commercial real estate agent or agency that focuses solely on the needs of a tenant, rather than being tied to the landlord or building owner. Your tenant representative has only one party's interest in mind - yours. Since they work for you, they are charged to ...
February 1, 2018Lynn Drake
Calculating Rent/month 5,000 s.f. x $20.00/s.f. = $100,000 / 12 months = $8,333 per month
January 22, 2018Lynn Drake