Real Estate Trends & Economic Highlights: 2010-2019 (Greater Cleveland)
As we turn the page from the end of one year to the start of the next, it’s traditional to look back and reminisce on recent history and memorable events—especially when that new year corresponds with the start of a new decade. Cushman and Wakefield’s Decade in Review report recaps the most notable events from … Continued
Read moreHigh-Tech Polymer Company Relocates Back to Akron; Adds Millions to City’s Tax Base
Cushman & Wakefield | CRESCO professional Fred Christie represented Promerus in the leasing of 38,000 square feet of industrial and office space located at 225 West Bartges Street in Akron. A subsidiary of Sumitomo Bakelite Co., Ltd., Promerus is a technology-driven company that provides advanced material solutions for the semiconductor, optoelectronic and electronic packaging markets. … Continued
How to Calculate Real Estate ROI on Investment Property
Are you interested in buying an office building as an investment, and planning to rent it out as a means of earning income? Investing in rental properties is a smart way to diversity your asset portfolio and increase your future wealth. It’s also a good way to boost your current cash flow, as you collect … Continued
Read more5 Reasons to Invest in Greater Cleveland Commercial Real Estate
Thinking about investing in commercial real estate? This can be a very exciting and rewarding endeavor, both financially and personally. Many investors get started in commercial real estate investment with the goal of securing more wealth. However, commercial investment properties also offer other benefits: portfolio diversification, mitigated economic risks, and a sense of pride in … Continued
Read moreTips for Purchasing or Leasing a Warehouse in Cleveland, Ohio
If so, this is likely an exciting—and perhaps stressful—time for your business. As businesses grow and expand, procuring new storage and distribution space is a natural next step. But this process can leave business owners with more questions than answers. For instance, is it better to purchase or lease a warehouse space? How big should … Continued
Read moreRevitalization of Lakewood’s Birdtown district continues with redevelopment of former BiRite building
By Jordyn Grzelewski The Plain Dealer LAKEWOOD, Ohio — A new plan to redevelop the former BiRite building on Madison Avenue will be a step forward in what city officials, local business owners and real-estate brokers say is a wave of reinvestment in this city’s historic Birdtown neighborhood. The building at 12501 Madison Ave. recently … Continued
Read moreThe Value of Real Estate Preservation
When you drive past an old industrial complex or commercial block in Cleveland, what are you really seeing? To the untrained eye, these structures are nothing more than faded, ramshackle eyesores that should perhaps be torn down and replaced with something new. But at Cushman & Wakefield | CRESCO, we see these historic properties as … Continued
Read moreLand Banks: What Are They and Why Do They Matter?
During the 2008 housing crisis, few regions were hit as hard as the greater Cleveland area. An astonishing number of mortgage and tax foreclosures, among other factors, led to a multi-billion dollar loss in Cuyahoga County’s real estate tax base. The market was in a state of utter chaos, and the future looked grim. In … Continued
Read moreThe Rise of Co-Working in Cleveland, Ohio
Co-working is rapidly redefining the office work environment. This trend has been quickly gaining steam in recent years, but many people have been left wondering what all the hype is about. What exactly is co-working, and what’s driving this transformation? An Overview on Co-Working One official definition of co-working is “the use of an office … Continued
Read moreMade in Ohio: Industrial Demand in the Greater Cleveland Area
Turn on any news station and you’ll be bombarded with talk of trade wars and tariffs. Given all of this news coverage, it’s all too easy to wonder: do we make anything in America anymore? This sentiment is present right here in Ohio, too. Clevelanders often relish in the city’s industrial roots—as if our manufacturing, … Continued
Read moreNew Residential Development in Birdtown Makes History
Cushman & Wakefield | CRESCO’s David Leb represented the buyer in the purchase of the property located at 12501 Madison Avenue in the historic Birdtown neighborhood in Lakewood, Ohio. CRESCO’s Connor Redman represented the seller. Jim Miketo, owner of Forest City Shuffleboard in Ohio City, plans to transform the 20,471 square foot property into approximately … Continued
Read moreLeasing Industrial Space: What You Need to Know
Is your growing business in need of a larger industrial space for manufacturing, storage, fulfillment or distribution? Leasing industrial space (rather than purchasing the building outright) can be a smart financial decision for many types of businesses. That said, industrial space leases tend to be quite complex, and usually come with more considerations than standard … Continued
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