What is the difference between a leasing agent and a tenant representative?

When a building owner wants their space leased, it is typical to engage a real estate broker, in this case called a leasing agent, to market the space and aid in its leasing. This could include providing a marketing campaign, showing the property to prospective tenants, helping the building owner through the process of choosing a tenant, negotiating critical lease terms and closing a transaction with a signed lease.

 

When a business owner wants to find a space in which to conduct business, it is typical to engage a real estate broker, in this case called a tenant representative.  As a representative for the tenant, the broker will look for spaces of the right type, size, location and price to present as options. Because the broker understands the local commercial real estate market and may be aware of off-market opportunities, they can present more viable and competitive options than a simple google search. A tenant representative then helps the business owner through the process of negotiating lease terms and signing a lease for their new space.

 

Regardless of which side of the deal you are on, a commercial real estate broker can be an incredible advantage to finding and accomplishing the next steps for your business.

Joe Palms, CCIM, Associate Broker

2020 Commercial Real Estate Trends Symposium

In 2020, we were able to bring our commercial real estate, development and business community together for Ann Arbor’s first Commercial Real Estate Trends Symposium.

In partnership with Ann Arbor SPARK, Swisher Commercial presented the annual Ann Arbor office & flex vacancy report and an engaging presentation on the local and national economic outlook with keynote speaker Don Grimes. Thank you for joining us!

 

PC: Doug Coombe

What is EMD?

EMD is an acronym for ‘Earnest Money Deposit’ (also known as Escrow) that is involved in a real estate transaction.   EMD is a deposit made to a seller, held by a title company or state authorized escrow agent, that represents a buyer’s good faith to buy a home or other commercial real estate property or entity.  Sellers will normally require an EMD upon acceptance of a sale/lease agreement with the amount ranging from 5% to 30% of the purchase price.  In most real estate transactions, accepted purchase offers become completed sales and the buyer’s earnest money is applied to the closing expenses or down payment. However, if a real estate transaction falls apart or is mutually terminated by both the buyer & seller, earnest money is disbursed in accordance to the contract.  Typically, it is returned to the buyer unless the buyer has defaulted or otherwise violated the contractual terms of the purchase agreement. –Tony Caprarese, Associate Broker

 

“Ask a Broker!” is a weekly blast that provides you with the information and tools to navigate commercial real estate transactions. These helpful tips are here to get you started and answer business basics. In addition to giving you these starter tidbits of information, our brokers are more than happy to provide personalized feedback on your real estate goals and questions. To have your questions answered, give our office a call at (734)663-0501.

How does commercial real estate tie into my retirement plans?

Investing in commercial real estate can provide a steady passive income while also providing increases in appreciation. It is a way to hedge against inflation and diversify your portfolio. By determining the type of property, location, price and returns that are expected or desired, we can evaluate your position in the market, tour potential investments and review property management options. Discover real estate opportunities that add value and stability to your financial plans now and moving into retirement. – Charlie Koenn, Associate Broker
“Ask a Broker!” is a weekly blast that provides you with the information and tools to navigate commercial real estate transactions. These helpful tips are here to get you started and answer business basics. In addition to giving you these starter tidbits of information, our brokers are more than happy to provide personalized feedback on your real estate goals and questions. To have your questions answered, give our office a call at (734)663-0501.

US, Michigan & Washtenaw Economic Forecasts

Interested in learning more about the US, Michigan and Washtenaw County economic forecasts?

We were honored to have Don Grimes speak at our Commercial Real Estate Trends Symposium in January 2020. Grimes received his master’s degree in economics from the University of Michigan. His primary research interests are in labor economics and economic forecasting. For more than 30 years, he has been engaged in economic forecasting for state and local governments and is frequently called upon for policy advice. He serves as a primary economic researcher and forecaster for these reports.

Read the US, Michigan and Washtenaw County Economic Forecasts Here

The next Michigan economic forecasts will be released in March 2020. Stay tuned!

Read a Crains Detroit article in which Don Grimes is interviewed about the Detroit economic and jobs forecast. Click Here

Welcome to “Ask a Broker”!

The brokers of Swisher Commercial want to provide you with the information and tools to navigate commercial real estate transactions. These helpful tips are here to get you started and answer business basics. In addition to giving you these starter tidbits of information, our brokers are more than happy to provide personalized feedback on your real estate goals and questions. To have your questions answered, give our office a call at (734)663-0501.

THE WEST FLEX AREA (WFA) – 2019 YE Vacancy Report

The WFA vacancy rate dropped from 6.8% in 2018 to 4.0% this year. (-2.8%)

There wasn’t a specific event or transaction that caused the rate drop, however, limited supply and strong demand for economical flex space persists across the WFA. Swisher Commercial’s research indicates that there were small swings in vacancy status from building to building, with most of the transactions being smaller in size. One 8,000 square foot speculative flex building was constructed in 2019 and was fully leased before its completion.