Ira Krumholz, CPM ® was installed as President of Chapter 41 Northern Ohio of the Institute of Real Estate Management (IREM).  The installation was held on November 6, 2015 at the Tudor Arms Hotel in Cleveland’s University Circle district.  During the installation, Ira spoke of his vision for the coming year.  Ira told the gathering, “As Cleveland is a leader in the nation in healthcare, education and the like, we want our property management firms to lead the country as…

NAI Daus Represents Owner, Tameran Inc., in the Sale of a Multi Tenant Industrial/Flex Building in Solon, Ohio Cleveland, Ohio – (October 6, 2015) – NAI Daus announced that it represented Tameran Inc. in the disposition of the multi-tenant industrial/flex building at 30300-30340 Solon Industrial Parkway in Solon, Ohio to LKL Properties, Inc.  The 72,600-square-foot, freestanding building was sold for $2,950,000.  David Hexter, SIOR, Partner and Jeffrey Calig, CCIM, Senior Vice President of NAI Daus represented the seller in this…

As the Starks Would Say, Winter is Coming By Ira Krumholz, President of NAI Daus Property Management Division ikrumholz@naidaus.com The 2015-16 edition of the Farmers’ Almanac includes a good news/bad news weather forecast for Ohio. The good news is that the fall is expected to be longer and milder than normal. But the bad news is that the winter is expected to be similar to last year – in the publication’s words, “snowfilled and frigid.” I’m sure that you will recall…

NAI Daus announced today that Mark Murphy, SCLS, SCSM joined NAI Daus Property Management Division as Senior Property Manager. “As the breadth of our property management assignments expand, we continue to hire exceptional people with experience managing a diverse portfolio of retail, office, industrial and multi-family properties. Mark brings over 20 years of experience and has been recognized with designations from several highly respected organizations” said Ira Krumholz, President of NAI Daus Property Management Division. Murphy joins NAI Daus after…

Architects can play a key role in helping your company create a workspace that matches your vision of how you want the company to operate. “An architect can sit down and interview your key people and gain an understanding of how everyone works in your business,” says Alec Pacella, managing partner and senior vice president at NAI Daus Property Management. “He or she can understand the critical components of your business and see what parts of the office need to…

On the eve of yet another youth soccer season, I recently took my son to the sporting goods store to buy a new pair of soccer shoes. We narrowed the choice to three – a relatively inexpensive pair, a moderately priced pair and an expensive pair. And to my surprise (or shock), my son didn’t immediately focus on the most expensive pair. Instead, he began to ask questions about why there was such a difference in price. And this led…

A wise real estate Yoda once told me that all a real estate agent has to offer are two things – time and knowledge. And sales comparables are certainly at the front of the line when it comes to knowledge. Commonly known as ‘comps,’ individually, they can provide guidance when attempting to value a similar property. And collectively, comps can provide insight into pricing trends, sales velocity and buyer characteristics. Back in the ‘old days,’ there were not many sources…

Written by Ira Krumholz, CPM® President of NAI Daus Property Management Division ikrumholz@naidaus.com Twitter @IraKrumholz 216-455-0905 Determining the value of a real estate asset is never an easy thing but the historic free fall in real estate values a few years ago and subsequent uneven recovery has made this task significantly more difficult. This month, we are going to discuss how a tumultuous market can impact the traditional approaches to determining value – cost approach, sales comparable approach and income capitalization…

Last month, we began a discussion regarding an analysis to compare a challenging decision that often faces a real estate investor – maintain the property as-is or upgrade the property with the expectations of achieving a higher rent. If you missed last month’s column (and shame on you if you did), we set up the following scenario: an investor owns a single-tenant office building and the tenant’s lease is expiring. The tenant is interested in renewing their lease. But the building is located…

Spring Cleaning by Ira Krumholz, president of the property management Division of NAI Daus. ikrumholz@naidaus.com The winter of 2014-15 will go down as one of the harshest in many decades. And real estate properties of all types have certainly felt the impact. This month, we are going to discuss some of the most common issues that property owners, as well as their legal advisors, should be on the lookout for as we transition to spring. Given the long stretches of frigid temperatures coupled with some heavy snows and high…