Compass Commercial (53)

The Tour

I always enjoy showing our clients space. It is interesting to see space through their eyes. I may think something is great and they may not. One of the biggest differences between residential and commercial real estate is the tour. When you are working in residential, all an agent needs to do is call the […]

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Do You Need Your Offices Cleaned?

Janitorial is one of the items where we see a wide gap in what landlords provide. Some provide it and some do not. 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 their lease. They thought I was […]

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What is With the Electrical Costs?

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 area, landlords can be charging […]

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Renewing Your Lease? Don’t Overlook These 3 Critical Steps

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 are looking into renewing your lease, make sure not to overlook these 3 critical steps. […]

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Right Sizing Your Firm’s Office – What Is Your Policy?

When I managed the real estate for Kelly Services across North America, it was always laughable how often people told us they needed more space than they actually required. I had one guy who had been with his company for 30 years. He had gone ahead and had his office rebuilt to a size larger […]

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The Last Minute Gotcha!

Your business is doing well, and you are happy with your current landlord. You may or may not notice that your lease is expiring in less than a year. You might think, since there has been no word, that your landlord forgot. I guarantee you, this is not the case. Maybe you are thinking the […]

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Hiring CRE Agents: Core Values vs. Experience

When I first opened my business, it felt like we had a revolving door of people. We interviewed people who seemed perfect for the position and perfect for the company, only to find out weeks later that we had made a mistake. Over the years, I have tweaked my hiring formula slightly and now ascribe […]

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Commercial Real Estate Is Never Boring!

I love commercial real estate. Every day is a different day. Every customer has different needs. Whether we reduce their rent or find them that perfect space, our work is always very, very rewarding. We learn about all kinds of businesses. My favorite experiences are the ones where I work with a business owner, as […]

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Are You a Do-It-Yourself Person?

I hate cold calling, and yet, it is 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 will do it myself.” Are YOU a do-it-yourself person? […]

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How Important Are Renewal Options?

Are renewal options important? 95% of the ones I have seen set the renewal option at market rate, and the other 5% are set at a rate I would deem as “important.” How do you know? Well, you start by taking a look at a CoStar report to see what the asking rates are in […]

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Protecting Your Rights as a Tenant Begins with Reading the Lease

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 would be wrong. Wrong, wrong, wrong. Assuming all attorneys are alike is no different than asking your gynecologist to help you diagnose a […]

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Leaving Corporate Real Estate

People are often shocked that I left corporate real estate after 25 years of climbing the corporate ladder. Certainly the timing, just 10 days before 9/11, was not great, but over the years I have never once regretted my decision. It is very interesting to hear people tell me that it is much safer to […]

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My First Deal as a CRE Broker in 2001

Having come out of corporate real estate, I knew all about the real estate end of things. My customers were always fellow staff at the corporation where I worked in the real estate department. Entering the other side of the business was a whole new ballgame for me. It meant I was selling and doing […]

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What Does Your Dream Office Look Like?

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 search for a […]

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What Was Your Oddest Showing This Year?

Most people do not 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 access to a lock […]

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Favorite Landlords: Who Was Yours This Year, and Why?

In this industry, one cannot help but develop favorite landlords. The ones who treat your prospect like gold. The ones who go out of their way to be accommodating. This year, I had the pleasure of working with a firm called Shaw Construction in Livonia. They were so accommodating to my tenants, I could not […]

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Do You Speak Lease?

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 is where we are wrong. See, not everyone can speak real estate. That is why it is important to work with a tenant representative […]

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Why Compass Moved?

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 was owned by four separate […]

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Open Floor Plan, Anyone?

There is much debate about the open floor plan. As you read recently, in “Moving Compass Commercial Offices” 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 same? Here are a few tried […]

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Moving Compass Commercial’s Offices

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 does not mean our search was a piece of cake. For one reason or another (perhaps because I know […]

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Detroit in Growth Pattern: Believe It or Not!

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 his leg. This is why […]

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Lease Clauses to Consider: Animals in Commercial Buildings

While many people might consider agents to be animals, the animals I am referring to here are the 4-legged furry types. In 2012, I ran a column asking for the oddest lease clauses that people have experienced. The most amusing answer I received was about a location where the tenant wanted to bring their dog […]

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What Is An Executive Suite?

What is an executive suite and why might you want to consider leasing one? Executive suites are a luxury to be sure, but for newer businesses looking for a place to meet with clients–they are definitely something to consider. Executive suites cover a wide range of spaces; you can rent a single office or simply […]

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Don’t Forget to Check the RFP Against the Lease!

You may recall we spoke about the importance of RFPs (Why Do Tenant Rep Brokers Ask So Many Questions?) recently and we have also written about the top mistakes that tenants make (Top 5 Mistakes #CRE Tenants Make at Renewal). One such mistake we see often is that tenants do not check the RFP against […]

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Why Do Tenant Rep Brokers Ask So Many Questions?

If you have ever worked with a tenant representative broker, you may have wondered to yourself, why do we ask so many questions? We always use a Request for Proposal (RFP) when comparing spaces for our clients. Many landlords and their representatives would prefer to and choose to skip this part. We never do. Sometimes […]

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Leasing Fundamentals – Void Analysis Part 1

PT 1 – VOID ANALYSIS What’s missing from your center?  Perform a “Void Analysis” and find out A VOID ANALYSIS determines what significant, retail functions are missing from a shopping center. Here at Strategic, we use this basic fundamental system for determining the difference in a retailer’s capacity to fulfill consumer demand within a given […]

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Adaptive Re-use in Retail

Arizona has a history of a blade and rebuild philosophy when it comes to changing the use of a particular property… but lately we have seen several innovative projects which utilize the original building to make something more unique and less cookie cutter. Adaptive re-use of buildings is a recent trend, especially with restaurateurs wanting to […]

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