Office Spotlight

Notable Transactions

  • 165 Smokerise Drive, Wadsworth, Oh: 30,000 SF office building sale that continues a long list of involvement in this immediate submarket.
  • 350 Harris Drive, Aurora, Oh: Sale of a 27,000 SF office building.
  • 999 S. Chillicothe Road, Aurora, OH: Sale of a 44,000 SF industrial building to a user.

Management Clients

Tri Mont Capital, Raith Financial and Oak Street Capital

Business Development

Partnership with Pleasant Valley Corp. creates synergies with an international leader in facilities and construction management along side an international real estate brokerage platform. Consolidation of the member offices in Akron and Cleveland creates a territory area that covers 5,000 square miles. Property management division manages 8 million square feet.

Professional Accomplishments

5 current CCIMs, 3 current SIORs. Establishing mentor-ship programs at University of Akron and Cleveland State University. Partnership with several local economic development groups, including joint sponsorship at Fall 2019 NAI Global convention. Host various recruiting events and educational classes at Medina headquarters.

Market Insights

The northern Ohio region continues to benefit from a strong manufacturing sector. As a result, industrial vacancy is at or near historically low levels in most submarkets. New development is occurring in many areas, totaling nearly 4 million square feet either planned or underway. Asking lease rates for new warehouse space is exceeding $6 psf net.

Additional Information

Predecessor office in Akron, NAI Cummins, dated to the mid 1970s while Cleveland, NAI Daus, dated to the mid 1960s. Both had been members of NAI Global since the mid-1900s. Family-owned Pleasant Valley Corp. of Medina traces its roots back to 1976, when co-CEOs Barbara and Gino Faciana invested $500 to start an electrical contracting company.

For more information:

Gino Faciana
Co-CEO
+1 330 590 8239
GFaciana@pvccinc.com

Alec Pacella, CCIM
President
+1 216 455 0925
apacella@naipvc.com

 

Click here to download the office spotlight as a PDF.