We had a very busy first quarter of 2019 here at FCRD, and we are excited to welcome six new tenants to the First Commercial family: AT&T has signed a lease on a 2,100 square foot space at Eastgate Plaza in Lima, Ohio. Warren Terrace negotiated the deal. William Watch negotiated two leases at First … Read more
HRPro, a Metro Detroit-based third party Human Resources administrator, has taken possession of its new headquarters, located at 1025 North Campbell Road in Royal Oak, Michigan. First Commercial Realty & Development assisted in the purchase of the 12,118 SQFT building in August 2018, in a joint venture partnership with HRPro’s owner and president Kris Powell. … Read more
On February 26, 2019, Allstate Insurance took possession of the nation-wide insurance firm’s newest retail space; a 1,200 SQFT suite in First Commercial’s Perrysburg Market Center, located in Perrysburg, Ohio. Allstate Insurance entered into a five-year triple net lease on the space, with two five-year renewal options. The deal was negotiated by Warren Terrace of … Read more
First Commercial Realty & Development Co., Inc. announces big changes in its 30th year in business. Co-Founder and President Bill Watch has assumed the role of CEO, as his son, Logan Watch, has been hired in to the newly created position of Director of Asset Management. In this capacity, he is responsible for enhancing the … Read more
Warren Terrace recently negotiated a deal with Closet NV to be the newest tenant to join the First Birmingham shopping center. First Birmingham is now 100% leased and is one of the strongest retail properties in the First Commercial portfolio. Closet NV, a designer merchandise consignment store, has recently been honored by Hour Magazine as … Read more
Reacting to an upturn in our construction business, First Commercial is proud to announce the expansion of its construction department to include general contracting throughout the Midwest. First Commercial now offers brokerage property management, development, general contracting, and construction management services. As a result of this new undertaking the construction division has completed projects in … Read more
First Commercial is confident that Detroit is on its way to becoming a destination for visitors, conventions, and new businesses. With the bankruptcy behind it, the city is once again on the rise as large companies and individuals are dedicating significant amounts of time and money into revitalizing downtown and midtown Detroit. One major investor, … Read more
First Commercial Looks to Expand its Reach into Property Management with Livonia, Mich. Property First Commercial Realty & Development currently manages a property at 5 Mile and Hubbard in Livonia, Michigan. The property went into foreclosure and is owned by Monroe Bank and Trust. Because a financial institution is neither prepared or qualified to management … Read more
1992 was a rough year for the city of Highland Park, Michigan. Automotive giant Chrysler had relocated its headquarters from Highland Park to Auburn Hills, and the wake of the move, both the Highland Park Hospital and the Woodward Avenue Sears store permanently closed their respective doors. Not to mention Benjamin Atkins, also known as … Read more
Property owners are adapting to new tenants in the face of a tough economic climate Recent economic factors have led to especially hard times for the commercial real estate industry; suitable tenants are few and far between, banks are unwilling to lend, and vacancies are at an all time high. In addition to the lagging … Read more