Commercial firms merge in Michigan

Commercial real estate could see a boom in Michigan with the merger of two firms.

Two of the top commercial firms in Michigan recently announced a merger. TMN Commercial and NAI Mid-Michigan will join forces with hopes of expanding services to the Michigan real estate community.

"The team at NAI Mid-Michigan has always put their clients first," Jeff Shapiro, vice president of business development at TMN Commercial, told Fox affiliate WSYM-TV. "Their high level of customer service combined with their effective work ethic is something that every firm in this business strives for. We recognize the value they bring to the table and that's why the merger made sense to all of us."

Early reports show that both NAI Mid-Michigan and TMN Commercial will surpass sales figures from 2012.

"Each of the firms has seen steady and consistent growth over the past 5 years, with 20 percent to 30 percent increases in business volume annually," said Jim Vlahakis, principal of NAI Mid-Michigan. "Commercial real estate activity is at the highest volume level we have seen in years, and we don't see any evidence of a slow down."

The merger will give the combined company more than 400 commercial properties listed for lease or sale, with over $13 million in property under contract or in pending transactions.

"TMN Commercial has been a recognized leader in developing, building and managing premium commercial property," said Nick Vlahakis, a principle at NAI and Jim's brother. "Their attentive personalized service and meticulous attention to detail is a hallmark of their reputation. With this merger we bring the best of both worlds together."

The merger gives the combined companies nearly 2 million square feet of leasable commercial space. Both founding companies will carry on with operations out of their existing facilities.

"With offices on the north side of Lansing and in Okemos we will be convenient for all of our existing and potential clients," Shapiro. said. "Anyone who has worked with either of our firms will recognize that we are all very client focused. Any arrangement that is more convenient for our clients will work for us."

One bank in Michigan to focus on small business
The improving economy has helped propel Michigan Commerce Bank back to a focus on lending to small businesses, which could bode well for the commercial real estate sector in central Michigan.

"We realized we need to become more active and diversified," said CEO Bruce Thomas.

Thomas said that the reversal of the loan loss provision and the improved capital status has been huge for his company.

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