Warehouse Space in Cleveland and Northeast Ohio

When it comes to real estate investment, the Northeast Ohio area is not lacking in warehouse space. It’s not a secret that the pandemic has led to some major retail stores closing their doors, causing a shift in the need for retail space to a need for other types of commercial spaces such as warehouses.  … Continued

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Greater Cleveland Shopping Centers: Key Retail Real Estate Trends

Simon Caplan, a partner at CRESCO Real Estate, recently sat down with Smart Business to discuss the current commercial real estate market, including the state of retail and Cleveland  shopping centers. He discusses how some retail spaces were converted to warehouses or used for non-retail purposes due to the COVID-19 pandemic, highlighting how retail property … Continued

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Cleveland Property Spotlight: The May Company Building

Property Address: 200 Euclid Ave, Cleveland, OH 44113 The historic May Company Building is one of Cleveland’s architectural gems. Listed in the U.S. National Register of Historic Places, the building opened its doors in 1915 as the May Department Store. At the time, it was said to be the third-largest store in the nation.  The … Continued

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A Retail Tenant’s Market: COVID-19’s Impact on CRE

The pendulum has swung. Just a few short months ago, the future of commercial real estate looked bright and landlords had little trouble keeping their vacancy rates low. Now, in the wake of the COVID-19 pandemic, tenants have the upper hand.  As economic uncertainty sweeps across the nation, small businesses are being hit hard. Many … Continued

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Blend and Extend Lease Amendments

Navigating lease terms in the face of large-scale economic uncertainty can be immensely challenging for both Northeast Ohio commercial landlords and tenants. During the COVID-19 pandemic, there have been many discussions about rent reductions, abatements, and evictions. Commercial tenants and landlords alike are concerned about declining income, and many are unsure how to move forward … Continued

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Cleveland Real Estate: Power of the Pop-Up Store

There’s no doubt about it—from a commercial real estate perspective, 2019 will go down as the year of the pop-up. Traditionally, pop-up stores have been viewed a type of “placeholder” tenant; a consolation prize for landlords struggling to fill their retail spaces.  It’s true that in decades past, pop-ups have been primarily comprised of seasonal … Continued

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Selecting Retail Space: 7 Things to Consider

Whether you’re a retailer searching for the perfect storefront or an investor looking to purchase a new retail property, selecting the right retail space to rent or buy can be tricky.  How can you know whether you’re choosing the right location to appeal to your target demographic? Which factors are most important to consider when … Continued

Mall Real Estate – The Future of America’s Malls

According to Coresight research, 5,994 stores have announced they will close their doors while 2,641 have announced openings as of April 2019. U.S. retailer store closures so far this year surpass the number of closures from last year: 5,684. With all of the mall closings in the U.S., it is easy to think that retail … Continued

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