For our inaugural blog post, we thought we would tell you a little bit about who we are, where we are located, and what is going on in the world of Commercial Real Estate.
Stokas Bieri Real Estate (SBRE) was forged in October 2010 to integrate the regional mid box retail expertise of Stokas Real Estate Advisors in the Midwest with the national specialty boutique retail services of Bieri Company as well as the extensive legal experience in retail real estate and tenant law provided by the Law Firm of Bieri & Ames.
We specialize in retail site selection, real estate consulting, tenant services, landlord representation, lease negotiation, acquisition and disposition, renewals, lease analysis, and preparation and review of estoppels.
We are located in the First National Building (pictured left), Suite 1500, right in Campus Martius; a two square block district that is the commercial center and heart of downtown Detroit, Michigan, also known as Detroit’s gathering place.
Few people don’t know about Detroit. How can you not when it is known as the Motor City, Motown, the City of Champions, The D, Hockeytown, Rock City, and the 313? If that isn’t enough to tip you off, perhaps the fact that Detroit has been home to countless celebrities, musicians, and politicians; not to mention the Red Wings, Tigers, Pistons, and Lions.
Yes, Detroit has had a lot of successes as well as its share of tough times; but Detroit is coming back in a big way!
You may have heard about some incentives and programs that are available to help businesses in Detroit. If you haven’t, pay even closer attention…these incentives range from tax breaks to special loans. We love that programs like this exist, enticing more people to invest in the city. Loans mean paying back the money. But are there better options? The answer is YES!
If you have been thinking about making your move to Detroit, the pot just got sweeter. A new program called Motor City Match has recently announced their plan to not only help business owners, but building owners as well. And the best part? Award money from the program is a grant. Yep, you read that right – an incentive you don’t have to pay back!
This program is giving away $500,000 each quarter. Motor City Match offers two tracks: Building Owners and Business Owners. For building owners with a structurally sound property, financial awards are available to help with renovation and build-out. Technical Assistance awards are also available, which can include site assessment, marketing for your building to attract tenants, design help, and financial planning. In order to apply, you must own the building, it has to be vacant and located in a commercial corridor. To see all of the eligibility requirements, go to http://www.motorcitymatch.com/wp-content/files_mf/1427745357Building_Owner_Competition_ProgramGuidelines_4_1_15.pdf.
If you’re a business owner who is looking to start or expand, they have Technical Assistance awards (business planning, financial management, etc.) and Financial Assistance awards (funds for build-outs, equipment, etc). To see all of the eligibility requirements, go to http://www.motorcitymatch.com/wp-content/files_mf/1427745386Business_Owner_Competition_ProgramGuidelines_4_1_15.pdf.
Technical Assistance awards don’t exactly have a monetary award, but the offered help is priceless. With Financial Assistance, they will match your investment, up to $100,000.
What’s the catch, right? Sure, there are certain eligibility requirements, but the list is pretty simple and straight forward. In addition, awarded projects must be completed within one year and your business must stay in Detroit for at least 2 years. Applications are now being accepted. Give us a call at (313) 962-2800 – we’d love to help your business grow!
Whoever said there is no such thing as free money hasn’t been to Detroit.