Blog

New Downtown Office Suite: 206 S. Main, Ann Arbor

Suite 222: 340 SF – $950/month plus electric

Suite 225: 442 SF – $1,250/month plus electric

• Prime second floor downtown location
• Corner of S Main and W Washington
• Above Regents Field and bd’s Mongolian Grill
• Bright open ofce suites include hardwood floor, high ceilings and operable windows
• Spacious, quiet building
• Clean, well-maintained bathrooms down the hall
• Ideal for small business, tech, counseling, massage
• Zoned: D1 (Downtown)
• Street, surface lot and structure parking within a block

For more information, contact Joe Palms at (734) 662-3676 or jpalms@swishercommercial.com

Price Change for Office Suites: 2750 Carpenter, Ann Arbor

Excellent condition. Building includes elevator and barrier-free common area rest rooms, and openable windows. New asphalt parking lot at rear of building, onsite maintenance. Monument multi-tenant sign on high traffic Carpenter Rd frontage. Easy access to US-23 at Washtenaw Ave. Building is about halfway between Washtenaw and Packard streets. Access panel for after hours appointments.

For Lease:

Suite 3: 854 USF, 979 RSF, $16.00 psf (plus utilities)

Suite 6: 865 USF, 990 RSF, $16.00 psf (plus utilities)

Suite 7: 746 USF, 871 RSF, $16.00 psf (plus utilities)

Suites 6 + 7: 1,611 USF, 1,861 RSF, $15.00 psf (plus utilities)

For more information, contact Bart Wise at (734) 662-3778 or bartw@swishercommercial.com

What is TI allowance?

TI allowance refers to tenant improvements.  A TI is any modification made to enhance usability of a commercial space for a tenant.  Renovations, building modifications and space updates can all be classified as improvements, regardless of whether they’re for aesthetic purposes or necessary for building structural health. Typical TIs could be new paint and carpet, updated lighting, relocated walls, or an additional restroom. It might entail bringing a space up to “white box” condition or be as extensive as a complete buildout.

It is customary for a business occupying a new space to need at least minor modifications. The nature of the work and the economics of the entire lease transaction determines which party pays for the improvements. This will be negotiated along with other major terms such as rental amount and lease length. If the improvements are the landlord’s responsibility, the landlord may hire contractors to complete the TI work before the tenant takes possession. Alternatively, the landlord may provide a TI allowance, sometimes determined as a per-square-foot dollar amount. In this situation, the tenant can spend according to certain criteria and the landlord will reimburse them for the work completed. Sometimes the reimbursement comes in the form of waived rent over a period of time.

It’s in the interest of both the landlord and the business owner to create an environment that’s conducive to the business’s success, and a TI allowance is an integral part of the equation.

Joe Palms, CCIM, Associate Broker

Price Update for Income Producing Land / Billboard Investment for Sale: US-23 Service Road, Whitmore Lake

5.5 Acre income producing property located along heavily traveled US-23 just north of the North Territorial interchange. Two double sided large billboards with leases and small storage shed on property. Over $24,000/year generated from billboard lease.

For Sale: 5.46 acres, $350,000

For more information, contact Michael Jurgenson at (734) 222-7522 or mikej@swishercommercial.com