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 such a property, First Commercial was hired by the bank to manage, lease, and sell the property.
First Commercial’s work also helps to stabilize the property to allow the bank to maximize and recapture dollars from the ultimate sale of the building.
In terms of management, we try to treat the asset as if it were our own, and look for ways to improve the value and provide a greater return for the owner. For First Commercial, this is a new way to utilize the services which the company already has available, and the prospect of expanding these services in the future is exciting and profitable for everyone involved.
For further information about our property management services, please contact Peter Gikas.