I TWO for 2.00!
of office space, Mikon has guid-
ed the firm toward profitable
"Diversification has been our
key," said Mr. Mikon, who pro-
jected 1993 revenues would be
unchanged from the previous
year. "We've divided our work
into three major market seg-
ments — health, commerce and
industrial — so that we're not
vulnerable to any one market.
The firm employs
420 people and
of $47.6 million
last year. Projected
revenues for 1993
are the same.
"Right now, health-care fa-
cilities are strong, but we feel
some of our clients are holding
back until President Clinton
(and Congress) come out with
health-care reforms. Usually,
when one of our markets is
strong, the other two lag a bit.
The automakers aren't doing a
lot of industrial work and com-
merce has been slowed by the
oversupply of office buildings."
Marking trends, Mr. Mikon
said commercial development
will be driven by build-to-suit
projects where a specific client
spearheads financing and oth-
er construction factors as op-
posed to developers who build
without lining up tenants.
"Even if they wanted to build
spec office buildings, develop-
ers could never get financing,"
said Mr. Mikon. "Just about
every market in the country has
excess office space. The indus-
try is really driven by specific
projects like what we've seen
with Chrysler, the federal gov-
ernment and organizations like
Taking a page from large re-
tailers who offer time-starved
consumers a vast array of mer-
chandise under one roof, the
Smith Group recently opened
Premise Associates Inc., a divi-
sion which will broaden the
firm's services and cement its
bond with long-standing clients.
"Premise will add to our ca-
pacity to serve our clients," said
Mr. Mikon. "The new (division)
takes a financial approach in
which we say to our clients: 'Let
us inventory and better under-
stand your real estate holdings
so that you can make better use
of them.' We'll also help a com-
pany find a piece of land for de-
velopment and determine what
the economic implications are."
Since joining Smith, Hinch-
man & Grylls in 1969, Mr.
Mikon has found the firm ac-
commodating to all ethnic back-
grounds. "There is prejudice in
this world, but I've been fortu-
nate to work in a company that
didn't demonstrate prejudice. I
don't think I'd be here if preju-
dice was widely felt."
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LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES
CREATING A HIGHER
*GMAC SMARTLEASE 24 months. First pymt. plus $550 ref. sec. dep.,
$2,000.00 down plate or transfer fee due on delivery. 4% state tax additional.
Mile limitation of 30,000. 100 per mile excess charge over limitation. Lessee
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by number of mont
. 9, E, „, j . , 6,
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7 5 8 — 8 0 0
If traveling west on 1-696, exit Hoover, follow Service Drive to RINKE.
If traveling east on 1-696, exit Van Dyke; take second bridge past Van Dyke over expressway to RINKE.
Source: Allen Olender, Prudential Securities,