Lynn Drake 153
CRE Mistakes Series: Furniture to Build Out
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. Sometimes tenants ask the landlord to build in the furniture. I was working with a client who wanted a built-in reception desk, walls, and […]
CRE Math Series: Calculating Taxes on an n/n/n lease
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. Tenants Share of Taxes: If you have a net/net/net lease, then your firm is responsible for the rent plus a share of the operating […]
CRE Definition Series: Lease Expiration Date
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. Lease Expiration Date:Most leases have a start and an end date spelled out in a lease document. The last day of the lease should […]
CRE Definition Series: Executive Suite
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. Executive Suite Definition:Many people don’t realize there are many alternatives to leasing an entire suite. For instance, you can often leas an executive suite; […]
CRE Definition Series: Letter of Intent
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. Letter of Intent:A letter of intent spells out the terms of an agreement to lease or buy commercial real estate. I usually use one […]
CRE Mistakes Series: Opening Multiple Offices Across the Country at Once
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. Sometimes a business will win an account, and in order to fulfill their contract they need to open three new offices in 30 days. […]
Story State Of Michigan
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. The Challenge: The State of Michigan needed a new location for their Secretary of State office in St. Clair Shores, because the location under […]
CRE Definition Series: Evergreening Clauses
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. Ever greening Clause Definition: Most leases have an end date with an option to extend the lease expiration date by sending a written notice […]
CRE Definition Series: Zoning Codes
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. Every city in the US has zoning codes. These codes outline how a space can be used. For example, doctors often think they can […]
CRE Mistakes Series: Traffic
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. Traffic mistakes can be critical. If you visit your future business home in the middle of the day and there is no traffic, that […]
CRE Math Series: How to calculate parking expenses
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. Parking Calculations: Parking costs can get complicated. Depending on the location, you may have some parking spots that are more expensive than others. To keep […]
CRE Mistakes Series: Don’t forget about phones and internet when moving your offices
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. CRE Mistakes Series: Don’t forget about phones and internet when moving your offices Businesses spend a great deal of time looking for space and, […]
Mistakes: The Kitchen
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. I can’t help but peek when I see new spaces being built out in the building that houses the Compass staff. Not long ago […]
CRE Definitions: Lease Term
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. The time in which a landlord and tenant enter into an agreement to lease space. This timing should be identified in lease agreement signed […]
SUCCESS STORY: Girl Scouts of Southeastern Michigan
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. 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 […]
CRE Math: Calculating Heating & Cooling
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. If you have a business in Michigan like I do, your heating bills are much more money in the winter than a business that […]
CRE Mistakes: Don’t Fall in Love with a Building while on Tour
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. When looking for space keep your eyes wide open. Put your phone away while doing a walk-through. If the space is an office building […]
CRE Mistakes: Building Standards
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. “Building Standards” refer to the finishes a landlord uses in the building. For example, the entry doors can be wood, 8’ or 10’ tall, […]
How to Hire a Commercial Real Estate Agent
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. In the market for a new office, or have some extra space available? Many people might look in the Yellow Pages, some will ask […]
Definitions: Tenant
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. “Tenant” refers to a company or individual that leases space from an owner/landlord. Usually money is paid as rent however, sometimes the landlord will […]
CRE Definition: Tenant Rep
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. A Tenant Representative is a commercial real estate agent or agency that focuses solely on the needs of a tenant, rather than being tied […]
AVOIDABLE CRM MISTAKES
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. I often see mistakes businesses make when leasing commercial real estate. Throughout 2018 I’ll share with you some things that are easily correctable, and […]
MISTAKES: Definition
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. Meet my dog Rocky. He loves people, but doesn’t’t like to be referred to as a sheep dog. Because he isn’t one. Rocky wants […]
Math Problem
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. I was a terrible math student. How and why I ever decided to get a degree in accounting is a mystery to me! One […]
Make like Santa Check Your Office Lease Twice
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. You know that holiday song? It’s a tune every tenant should be singing – twice a year. That’s right—Every tenant should check their lease […]
Are you a startup company looking for office or industrial space?
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. While the owner of a startup company may be reluctant to take on a long-term lease, it might pay to think about what that […]
Buying a Building Part 3
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList. Buying a commercial building for your business is a big step, with many aspects to the process.PART ONE explained the criteria you need to […]
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