Tag: leasing

03

May2017
See the Amazing Results Compass Managed for a Non-Profit! The Challenge: The Girl Scouts had a long-term lease at the Fisher building in Detroit, Michigan. Their rent was significantly over market and they had more square footage then they needed. They also faced many issues as a building tenant, including:  Bankruptcy of ... Read More
May 3, 2017Lynn Drake

21

Mar2016
Just before and during the 2007-2009 recession, month-to-month leases were very common. During that period, so many businesses experienced financial hardships that the tenants didn't want to sign long term leases.  At the same time,  tenants whose leases were expiring  often asked the landlord to let them rent on a ... Read More
March 21, 2016Lynn Drake

29

Feb2016
In the spring of 2015, I got a 22% increase in my common area maintenance (CAM) pass-through expense. CAM charges are billed pro rata to me and other tenants, based on our percentage of total property square footage and to cover the cost of common area upkeep.When I sent an ... Read More
February 29, 2016Lynn Drake

17

Aug2015

The Relocation Clause

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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 ... Read More
August 17, 2015Lynn Drake

19

Nov2014
Janitorial is one of the items where we see a wide gap in what landlords provide. Some provide it and some don’t. Some will come in once a week and some will come in every day. I was working with a nonprofit and got them cleaning services with ... Read More
November 19, 2014Lynn Drake

15

Oct2014
People tend not to take renewals all that seriously. They see it as simple, thinking they can just call the landlord and get their new rate. That way of thinking can cost your firm a lot of money. If you’re looking into renewing your lease, make sure not to overlook ... Read More
October 15, 2014Lynn Drake

06

Aug2014
I hate cold calling, and yet, it’s how I make most of my money. Experts will tell you cold calling is a waste of time, but I strongly disagree. Interestingly, when we call someone to offer our services, the biggest pushback we get is, “I’ll do it myself.” Are YOU ... Read More
August 6, 2014Lynn Drake

01

Jul2014
As a brokerage firm, we have been disappointed with some of the attorneys reviewing our client’s leases. Why would this be? An attorney is an attorney, right? So you’d think. But you’d be wrong. Wrong, wrong, wrong. Assuming all attorneys are alike is no different than asking your gynecologist to ... Read More
July 1, 2014Lynn Drake

19

Mar2014
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 ... Read More
March 19, 2014Lynn Drake

05

Feb2014
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 ... Read More
February 5, 2014Lynn Drake