Personalized Service Wins Property Management Contract

FARMINGTON HILLS, MICHIGAN – August 5, 2013

Property management is not a one-size-fits-all service.

“While property owners in southeast Michigan are seeking out professional management for the value it adds to their assets, they’re insisting on personalized service,” said John M. Bridges, Director of Management Solutions for Thomas A. Duke Company.

Thomas A. Duke Company’s reputation for such individually-tailored service has won it the leasing and property management contract from the owners of Madison Center, a community retail hub in Madison Heights anchored by Super Kmart. Located at the intersection of John R. Road and E. Fourteen Mile Road, the center is also home to a Texas Roadhouse, CW Price, Rainbow Fashions, Ross Education, and others in its 227,088 square-foot space.

“Larger property management providers offer one standard list of services, no matter the size of the property or its particular profile,” Bridges continued, “and tell owners to take it or leave it. At Thomas A. Duke Company we meet one-on-one with owners of properties large and small and tailor our services to their needs. At the same time, all our processes and procedures, including our financial reporting, are best-in-class. It’s the combination of the highest quality service personalized for each property that adds maximum value to an asset.”

Thomas A. Duke Company is a full-service commercial real estate and investment firm headquartered in Farmington Hills, Michigan. Since 1976, we’ve built a reputation for providing expert guidance to those making complex real estate decisions throughout southeast Michigan. We offer a full complement of real estate services, including investment sales, brokerage services, property management, distressed asset solutions, and project management. In short, we make every square foot count.

For more information, please email John Bridges at jbridges@thomasduke.com.

Stockbridge Enterprises Chooses the Thomas A. Duke Company

After years of trying to manage them alone, the ownership of Stockbridge Enterprises decided it was time to seek out leasing and property management professionals for two of its premier shopping centers. They chose the Thomas A. Duke Company.

The multi-tenant Fiddler’s Cove Shopping Center in the 71000 block of Van Dyke Road is anchored by the lively Sheena’s Marketplace (a Spartan Brands store) and a CVS pharmacy. The center’s four buildings offer more than 93,000 square feet of rentable space.

West Acres Commons Shopping Center, another multi-tenant retail complex at the intersection of West Corunna and Linden Roads in Flint Township, has more than 95,000 square feet of rentable space in two buildings and is anchored by VG’s Food Center and Pharmacy.

“Our best-in-class processes and procedures, our institutional-quality financial reporting, and our customer-service focus are winning the confidence of shopping center owners across the metropolitan area,” said John M. Bridges, Director of Management Solutions at the Duke Company. “These and our track record of success are all the assurance owners need that with us they’ll achieve their investment goals and objectives.”

For more information, please email John Bridges at jbridges@thomasduke.com.

Property Management – Fidelity Investor Center in Novi

THOMAS A. DUKE COMPANY HAS BEEN AWARDED THE PROPERTY MANAGEMENT OF THE FIDELITY INVESTOR CENTER IN NOVI, MICHIGAN

FARMINGTON HILLS, MICHIGAN – December 27th, 2012

Farmington Hills, Michigan – Thomas A. Duke Company has been awarded the property management of the Fidelity Investor Center, 43420 Grand River Road, Novi, Michigan. The building is a 6,660 sq. ft. single use retail building, situated on 45,000 sq. ft. of land, located at the corner of Grand River and Novi Roads.

“After meeting with the Thomas A. Duke Company team, it was clear that they understood the market, as well as our investment goals, and are truly focused on tenant satisfaction”, states Kenneth Lewis, Manager of Novi Investment Partners, LLC.

Thomas A. Duke Company is a full-service commercial real estate and investment firm headquartered in Farmington Hills, Michigan. Since 1976, we have been known as specialists in providing guidance to those individuals who make complex real estate decisions throughout Southeast Michigan. We provide a full complement of real estate services, including investment sales, brokerage services, property management, distressed asset solutions, and project management. In short, we make every square foot count!

For more information, please contact John Bridges at jbridges@thomasduke.com or call 248.476.3700.

Property Management – Pine Ridge Shopping Center in Novi

THOMAS A. DUKE COMPANY HAS BEEN AWARDED THE PROPERTY MANAGEMENT OF THE PINE RIDGE SHOPPING CENTER IN NOVI, MICHIGAN

FARMINGTON HILLS, MICHIGAN – January 1, 2013

Farmington Hills, Michigan – Thomas A. Duke Company has been awarded the property management of the Pine Ridge Shopping Center, 24255-24299 Novi Road, Novi, Michigan. Built in 1987, the multi-tenant neighborhood shopping center contains 37,964 sq. ft. and is situated on 4.55 acres of land, located on Novi Road just north of 10 mile.

“Thomas A. Duke Company was an easy choice.  They reviewed the property and came to us with a plan to help us achieve our investment goals”, states Michael Barnes, General Partner, Pine Ridge Shopping Center.

Thomas A. Duke Company is a full-service commercial real estate and investment firm headquartered in Farmington Hills, Michigan. Since 1976, we have been known as specialists in providing guidance to those individuals who make complex real estate decisions throughout Southeast Michigan. We provide a full complement of real estate services, including investment sales, brokerage services, property management, distressed asset solutions, and project management. In short, we make every square foot count!

For more informatoion, please contact John Bridges at jbridges@thomasduke.com or call 248.476.3700.

Vintage 1960s Mid Century Modern Come Back

The Thomas Duke Company has given an iconic, mid-century-modern building at 30555 Southfield Road in Southfield a new lease on life.

Built in 1968, this five-story structure previously known as the Congress Building badly needed attention. Its nearly 60,000 square feet were deteriorating rapidly. But beneath the mildew and corrosion and general dishevelment we saw potential—a unique, boutique building with floor-to-ceiling glass on all levels that brought the light and energy of the outdoors in.

For that potential to become actual, we had work to do.

Beginning in May, our crews spent a month on a boom lift, attending to the building’s skin. Five different surface materials, each needing different treatment, had to be restored. We acid washed the entire building, and then scrubbed it with abrasive pads to remove decades of dirt and corrosion from the glass, aluminum mullions, and fiberglass panels. Next we treated the four-story white panels with Jomax and bleach to remove mildew and clean their surfaces. In the end, every inch of the exterior was cleaned, repaired, caulked, tuck-pointed, primed, painted, sealed, and polished.

Back on the ground we tackled the wildly overgrown landscaping. We stripped the site of all the original plantings, including overgrown trees that blocked sight lines. Our new landscape design features trees, shrubs, flowers and other plantings in complimenting sizes and colors that create a welcome from every angle.

The result is a gleaming, good as new structure surrounded by natural beauty. Two new flags flank the front elevation—a subtle finishing touch.

We’ve now moved inside, busily renovating the offices and common spaces with the same attention and care we lavished on the exterior. We intend to bring the interior, too, back to its 1960s glory, with period colors, textures, ornamentation, and lighting. The building is well on its way to becoming a charming, individualized, attention-getting location.

We welcome inquiries from tenants who want a high-quality building minutes south of the Birmingham office market at considerable savings. Its new lease on life can offer the same to your business.

For more information, please contact Thomas Duke at tduke@thomasduke.com

Customer-Driven Property Management – Everything we do Maximizes your investment.

To meet your ownership goals and objectives, you need someone with the right education, experience, and industry knowledge to direct your investment property. That’s why the Thomas A. Duke Company has welcomed John M. Bridges, CPM, as our Director of Management Solutions. His main objective is to partner with you, the investment property owner, to develop a customized strategic management plan for each property. That process will start with your goals and objectives for the property and then apply John’s analysis of all the physical, financial, and market factors. The final plan will balance the property’s income potential and its necessary expenses to create the best fit between you and your tenant, which always builds a strong long-term relationship. John’s whole focus is to protect and grow your investment by keeping vacancies low and, most importantly, keeping you informed.

John Bridges’ long career in real estate management has primed him for the opportunity to work with Thomas A. Duke clients. He’s had a hand in  managing more than 13,900,000 square feet of property across the country, from a 4,600-square-foot shopping center to a one-million-square-foot high-rise office tower—and everything in between. For these properties he created sound management plans and then implemented them, including organizational, operational, financial, marketing, and asset management strategies that achieved the ownerships’ objectives.

Prior to joining Thomas A. Duke Company, John served as the Chief Operating Officer for Portfolio Property Management Global, a national property management firm. There he created and implemented all facets of the firm’s infrastructure, policies and procedures, and day-to-day management of a national portfolio of Class A office, retail, industrial, and multi-family properties—management recognized as best in its class.

Before his COO position, John was a Senior Property Manager for Cushman & Wakefield, where he was responsible for the firm’s third-party management services in Michigan and Ohio. Clients included private, corporate, and pension fund advisors with assets in alternative energy facilities, life sciences research facilities, as well as Class A office properties. Earlier opportunities took John to notable real estate firms such as Great Lakes REIT, The Farbman Group, and Schostak Brothers & Company, Inc.

Consistently, across his entire twenty-six-year career, John has created, implemented, and led operating initiatives that have yielded significant cost reductions and improved operating efficiencies for his clients. He accomplishes this in a number of ways—including implementing green programs—but primarily by being aligned with the investment objectives of his clients.

No surprise, then, that John was named one of the “Elite Eight” in commercial property management in 2000 by Commercial Inc. Magazine and was a member of the Campus Matius Park Task Force. He continues to be a member of BOMA, IFMA, and the Institute of Real Estate Management, from which he has earned the Certified Property Manager (CPM) designation.

For more information, please contact John at jbridges@thomasduke.com or 248.476.3700.

Powerscourt – Under New Management!

The Thomas Duke Company is pleased to announce that we have added the Powerscourt building to our portfolio. With our ownership we bring our reputation for exceptional care of our properties and respectful attention to every tenant in them.

Tenants will begin to experience this care and attention immediately as we begin with a first floor renovation. We have all new finishes selected for baths and hallways. Carpets, wall coverings, ceiling tiles and light fixtures will all be new—and environmentally friendly.  This renovation on the first floor will give present and future tenants a picture of what to expect on the floors above.

We also plan to refurbish suite entries and each suite’s interior finishes—floor and wall coverings, ceiling treatments, doors and lighting—as the space is leased, built out, and /or renovated for lease renewals.  Common areas, including the elevator cabs and the parking garage, won’t be overlooked, either. When spring brings warmer weather, expect to see new sidewalks, improved parking areas and refreshed landscaping.

The brokerage community will find it easier to bring new tenants to the building and to negotiate leases. Our history of close cooperation and quick, no-nonsense deal making will help us fill the building and meet our lease-up projections. New tenants will be pleased with their broker’s advice to locate to Powerscourt.

Our investors are also excited about our plans and intentions for Powerscourt. As we better manage its annual expenses, the result will be better vendors, better care and a better bottom line. Its occupancy will increase, and our return on investment is sure to be satisfying. This is an exceptional property, one we are all going to be proud of.  

Thomas Duke (tduke@thomasduke.com)

Professional Property Management Can Mean the Difference Between Solvency and Default!

Even in the best economic climate, all of us look for the most intelligent way to manage our properties. In the difficult climate we’re now in, employing sound, cost-effective management can mean the difference between solvency and default.

The Thomas A. Duke Company was recently—and abruptly—awarded the property management contract for two retail centers, one in Farmington Hills and one in Brighton. Our first inspection made it clear that we had our work cut out for us.

Though the properties were reasonably well occupied, there were no up-to-date leases. Rental rates and terms didn’t meet current standards. Structures and surroundings were neglected and maintenance haphazard. Immediately we set about assessing conditions overall and making a first round of recommendations for a quick turnaround—in the middle of which a rooftop HVAC unit failed.

Needless to say, bringing these properties from careless to professional management poses a considerable challenge. Our key steps will include:

• an audit and the development of CAD drawings to ensure that leases reflect correct square footage;
• a complete, competitive rebidding of all vendors and tradesmen associated with the properties to secure the best and lowest possible operating costs;
• a revision and improvement of the owner’s standard lease, then a prompt renewal of each tenant’s lease with uniform terms and accuracy in billable net charges;
• immediate physical upgrades to parking lots, lighting, landscaping, brick and glass, doors, and painted surfaces; signage and overall site visibility will also be improved.

 We’re well underway, already finding savings on nearly every line-item expense, including insurance. With over 30 years of property management experience, our respected reputation and service volume allow us to realize serious buying power for our clients.

 In a few short months there will be a marked turnaround of these retail centers. Can we bring the same energy and expertise to your property?

 Sincerely,

Thomas A. Duke

Benefits of knowing exact square footage

No matter how seemingly sophisticated the building ownership may be, large building or small, it amazes me how inaccurate individual suite measurements can be. Many owners are simply unaware of how many leasable square feet they miss on their rent rolls. If suite measurements are off, so are the common area measurements, which affects the common area factor. For building owners, overcharging tenants is no way to build loyalty or earn lease renewals. Conversely, years of missed space on billings negatively impacts profitability and appraisal values.

One remedy: account for every square foot through a master of the building with all usable and common areas identified. You can do this minimally through a simple field measurement or take-off from the building plans, but optimally through a computer aided design (CAD) drawing. Given today’s technology age, there is little excuse for not accurately calculating the usable and rentable square footage, or correctly charging tenants. The discovery of previously unaccounted for rentable area provides landlords with a fair return for their investment in CAD drawings.

Developing a comprehensive CAD file does not need to be done overnight. Start by creating a new suite drawing for each vacant space marketed online. This practice aides the brokerage community in showing and signing new tenants. All parties gain comfort in professionally drawn and measured suites.

 While we’ve maintained our building plans and suite measurements on CAD for many years, our design firm recently purchased new state-of-the-art CAD software that gives us terrific advantages:

1. Superior ability to tie very accurate suite plans to stacking plans,
2. sorting features on vacancies,
3. 3-D views of suites or entire floors,
4. easily understood square footage calculations.

We can create quick construction material take-offs and benchmark construction pricing for standard materials and finishes. I can’t over emphasize the benefit of the ability to make impressive presentations quickly to tenants and their brokers, as well as make intelligent decisions pertaining to improvement budgets. Simply put, CAD technology and online space plan access help all parties transact business quickly, fairly and creatively. Consistent application of these practices helps my firm earn repeat business.

 Thomas A Duke is a fourth generation building and real estate owner located in southeast Michigan. He operates a full service brokerage firm, with comprehensive asset and property management services, under the name the Thomas A Duke Company. www.thomasduke.com