First Commercial Realty and Development Co., Inc. was founded by William Watch and Warren Terrace in 1988. Bill was an executive with Rite Aid (formerly Perry Drugs) specializing in corporate real estate and site selection for both the auto parts and drug store divisions. Warren spent eight years at Schostak Bros. as a leasing and property management professional before starting his own real estate company. The two pooled their resources and expertise together and began developing commercial real estate projects including an 18,000 square foot professional building in Rochester Hills, MI, and various free standing Rite Aid drugstores. From the beginning, the company’s philosophy was to build a commercial real estate portfolio and the services needed to support it.
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