Sep
1
Last month, Cleveland saw the sale of a 575,000 square foot downtown office building known as the Penton Media Building. The building sold for $46.5 million or $81 per square foot and I've had at least a dozen people ask me what I thought about this number. Since I've answered this several times in private, it's time to put my thoughts out there in public. But before I do, let's set the table a bit. This transfer represents the largest deal, ...
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Aug
26
20 years ago, very few people knew what the internet was and web sites were but a concept. 10 years ago, web sites were all the rage and the dot.com era was at its peak. Today, the pace of change is even faster, with the emergence of blogs and social networking. But web sites are still the backbone of the internet. In this month's Properties magazine, we take a close look at the current 'state of the state' with web sites, talking about what's hot ...
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Aug
11
Although many are hoping for big things over the second half of 2010, it didn't get off to a very good start. A scant two real estate investment sales occurred during July, which is a dramatic decrease from June's volume. However, the year-to-date volume through the first seven months of 2010 is 55% higher than the volume over the first seven months of 2009. There are many mixed messages that help to articulate a very mixed market. To read the ...
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Aug
3
Conversations comparing Nashville to Cleveland cannot get very far before the subject of medical marts come up. It's no secret that Nashville is hot on Cleveland's heels to develop the nation's premier medical mart, so let’s see how the two stack up. Nashville's mart is projected be 1.5 million square feet and cost $250 million while Cleveland's mart is projected to be 130,000 square feet and cost $425 million. Both will be located in the central ...
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Jul
30
I'm just back from spending a few days in Nashville, TN. I had a great time, but, as I walked past all of the Honkey Tonks and life-size figures of Elvis on Broadway, I couldn't help but think about the city as it compares to Cleveland. My next few entries will highlight various things that I noticed while down there. Most will have a real estate slant, although I'll also throw in some recommended sights and sounds.
While tooling around the ...
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Jul
20
Real estate investments are relatively easy to get into - after agreeing to a price, you show up with your money and it's all yours. However, little thought is often given to getting out of the property and how the property's terminal value affects the overall performance. In the July 2010 issue of Properties magazine, the exit strategy of an investor takes center stage. We discuss a few different approaches to determining future value and how ...
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Jul
9
One of the benefits of being a member of NAI, a global commercial real estate network, is exposure to news, trends and information for regional, national and even international real estate markets. I recently saw a new listing from our NAI office in Honolulu that made me pause. The brochure detailed a ground floor retail space that was available for lease in the trendy Waikiki district. The space is 8,600 square feet, divisible down to 870 ...
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Jun
28
SB Equities has close ties to the CAK Industrial Park, which is located adjacent to the Akron-Canton Airport. In addition to owning a 350,000 square foot facility within this park, SBE's management arm is the property manager for the entire park. The following article appeared in a recent edition of the Business Journal and speaks to both the vibrancy of the airport as well as the continuing momentum of an economic recovery.
June 23, 2010 6:20 ...
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Jun
22
As we arrive at the halfway point of 2010, everyone seems to have mixed feelings about exactly where the real estate markets stand. Activity levels are higher as compared to a year earlier but what exactly does that mean? Will things return to normal by the end of the year? By 2011? Ever? In this month's Financial Strategies column, we discuss some of the emerging trends over the first six months and how the savvy investor can continue to ...
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Jun
9
Lately, there seems to be an increase in door-to-door salespeople. And the products aren't the typical magazine subscriptions, lawn services or girl scout cookies. Over the past week, I've seen salespeople hawking home security systems, car services and even Cleveland Indians game tickets. In the real estate world, I have noticed a similar trend. People are working harder to get their properties noticed, reaching out via personal emails and ...
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