THE CHALLENGE A telecommunications company came to Compass Commercial with a dilemma: they had occupied the same space for close to 10 years and were on a month to month lease when their landlord gave them a 30 day notice to move. Compass had less than a month to find them a ...
Tag: leasing a commercial building
August 15, 2016Lynn Drake
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 ...
February 29, 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
Having been in this industry for many years, I feel like I’ve seen it all. My experience working for a landlord, and then working in a corporate real estate department before becoming a real estate agent was so very useful in teaching me all the sides of a transaction. But what ...
December 20, 2015Lynn 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
Across the country, we see different rates for electricity charged by owners, based on their various climates. An electrical rate in Troy, Michigan is going to be far different than one charged in Phoenix, Arizona. The point of this post is to make people aware that even in the same ...
November 5, 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
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