Real estate valuation is certainly a little bit of art, a little bit of science and a lot of speculation. Everyone has their own 'method to their madness'. But the beauty is that, despite what everyone thinks, the only opinion that matters is the end buyer. When the announcement came earlier this summer that 200 Public Square (formerly known as BP Tower) was going up for sale, the immediate question was 'what is it worth?' This month's Financial ...
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In this month's Akron-Canton Smart Business, SB Equities own Bill Sadataki talks about many of the factors and influences that affect a real estate investor's decision process. A focus of his conversation centers around the industrial park located at CAK, which will soon be unveiled as Port Green at CAK. In the article, Bill discusses concepts such as access to primary transportation arterials, labor supply and overall market appeal. To read the ...
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Although there has clearly been an increase in activity over the first half of 2011, the commercial real estate market continues to be a battlefield. In this month's Properties magazine, we take a look at some of the emerging trends in the Cleveland real estate market. And as you will see, there are certainly a lot more people looking for a fight than actually in one. To read the article, click here. ...
It's been a long time coming but the Cleveland investment market roared back to life in June. Riding the wave of the $4 billion acquisition by Blackstone of Centro's real estate assets (including the 10 located in northeast Ohio), the sales volume in the Cleveland market ended the first half with a huge ka-blamo. But the month wasn't just the Centro/Blackstone show - we also saw activity in the single tenant net leased market as well as a continued ...
Although we like to think that real estate is at the center of the universe, the reality is that our profession is but one part of a very large puzzle. And many of the tools and concepts that we use to figure out our little puzzle can be applied to a variety of other situations. In the June issue of Properties Magazine, we discuss the concept of Net Present Value. As you will see, although the concept is quite useful when analyzing real estate ...
This week, the owners of 200 Public Square (formerly known as the BP Building) put the building on the market for sale. I was on the team that sold the property to the current owners back in 2005 so when my friend from the Plain Dealer, real estate reporter Michelle Jarboe, called to ask my opinion, I wasn't at a loss for words. Michelle wrote a nice piece (click here to link) but it was one of the comment posts online that really caught my ...
With the ushering in of the internet age, the amount of information (and pace which that information flows) has dramatically increased. In the old days, analyzing a real estate site or a market involved at least one if not several treks to the local planning department with the hopes of obtaining any kind of demographic information that might be stashed away in a file cabinent. The dawning of the PC era saw this data migrate from hard copy to digital ...
Last summer, I wrote a couple blog entries following a short visit to Nashville. In a July entry entitled 'Music City Musings, v2.0', I discussed the pending medical mart that was planned for Nashville and compared it to Cleveland's medical mart. Fast forward about 9 months and the landscape has continued to shift. I just read a very good, balanced article that compares Cleveland's mart not only to Nashville but also to a third that was announced a ...
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Mother nature wasn't kind to northeast Ohio in April. Persistent rain coupled with cool temperatures made Spring seem like an elusive concept. The state of the commercial real estate investment market was similarly gloomy. Property sales volume was flat, with a scant three investment properties transferring, representing an aggregate volume of just over $6 million. And distressed real estate continued to dampen pricing, as evidenced by the sale of ...
This month's Financial Strategies column in Properties Magazine continues a discussion that begin in the March issue. The topic for both months was Internal Rate of Return. In March, we gave some framing to the concept of IRR, explaining what it is and how it is used. And in the April issue, we tackle some of the shortcomings ...
