As we celebrate Women's History Month, we at NAI Pleasant Valley want to recognize the contributions of the women within our company. In Northeast Ohio, Barbara Faciana is a beacon of empowerment and achievement. As the co-CEO of Pleasant Valley Corporation (PVC) and NAI Pleasant Valley, Barbara's journey embodies resilience, entrepreneurship, and a commitment to excellence.

Alec J. Pacella, CCIM If you’ve spent any time around the legal world, you know that the outcome of many cases revolves around a concept known as “legal precedent.” Cases are made, argued, won and lost based on the results of decisions that had been made on similar cases in the past. Oftentimes, these precedents go unnoticed, as they usually have a narrow potential impact. But every so often, there will be a case that gains widespread attention because of…

Lease Vs. Own – What is Right for You? In my last post, we discussed the most important factors to consider when leasing space in an office building, specifically a downtown office building.  This week, we will take a step backward to review what leads a business owner to the decision to lease or purchase.  When considering a change, many owners will need to contemplate the following – does it make more sense to purchase or to lease my business’…

Alex J. Pacella, CCIM I’ve always been a fan of watching the weather forecast. I love seeing maps that show weather fronts, high- and low-pressure areas, storm systems and don’t even get me started on long-term forecasts. But one thing that I always felt is a “free pass” is the famous “partly cloudy / partly sunny” forecast. This seems to be a catch-all, as the optimistic interpretation is just a few wispy clouds, the pessimistic interpretation is an intermittent drizzle,…

By: Joe Hauman This blog will cover the basics of building on spec and the current spec market forecast in my home market of Cleveland, Ohio.  What is the Definition of Building on Spec? Spec means speculative; in its most basic form, spec is when a developer constructs a structure without a tenant in mind to use the space. When a developer builds on spec, they have no specific tenant in mind and rely on their broker to find one…

Factors to consider when leasing downtown office space by Noah Broadbent As a tenant and business owner, one of the most important decisions you will make is determining where to locate your business. Juggling factors such as where your employees live, access to public transit and rental rates can prove to be a more challenging decision than many anticipate. Whether you’re thinking about leasing office space in a downtown like Cleveland’s Central Business District (CBD) or a suburb, consider these…

One of the most popular things in our office is a large white board.

Alec J. Pacella, CCIM As hard as it may be to believe, half of 2023 is in the review mirror. And what a first half it’s been! It seems as if everyone in the real estate biz has had eyes on the Fed, the banking system, the stock market, and inflation. Throw in that pesky debt ceiling and it’s been enough to make a person crazy. A common question on everyone’s mind is “where are things heading” and while there…

Alec J. Pacella, CCIM The last eight months have been spent in school, not literally but figuratively. Each month in this very column, we had a “class” or period. Subjects have included some weighty topics such as capital accumulation, discretionary capital expenditures and risk mitigation strategies. We even took time for a lunch period, drawing parallels between current real estate trends and fabled grade school lunch choices. The final bell has rung but we have one more extra-curricular activity: debate…

The world works in cycles. We see it most in the financial world, but it’s everywhere.

Multifamily sales in Singapore, for example, are expected to improve, with some analysts anticipating a “more than 10% increase in the number of homes purchased by Chinese this year” in the city-state.

“FinCEN has started a rulemaking process that would impose requirements to prevent money laundering on the commercial real estate industry.”

This month, we are going to roll into the second part of this discussion and highlight various key terms associated with loans.

Investopedia defines IRR as: A financial metric, used to measure the profitability of an investment, that takes into account the time value of money.

It’s very popular for a real estate investment to include capital from sources in addition to the investor’s equity.

“In the multi-family sector, starts are expected to finish the year [2022] up 16%, but will drop 9% next year.”

Alec J. Pacella During my school days, lunchtime was always an interesting experience. In addition to providing a nice break and opportunity to socialize, there was the actual main event – food. And with this came great variety, sometimes in a good way and other times in a bad way. I have similar thoughts when looking back at the commercial real estate investment market in 2022. To see how our real estate market relates to school lunches, read on. PIZZA…

With all of these changes incoming, the question that’s top of mind is: How will this affect the labor shortage we’ve seen since 2021?

Other trends, like the Bring-Your-Own-Device (BYOD) movement where employees use personal devices in the office, create additional avenues of attack if those devices aren’t properly secured.

STILL HOT Investment sales, particularly industrial warehouse product, continues to achieve record pricing. Last month, a 125,000-square foot facility in Middleburg Heights sold for $13.7 million or $109 per square foot. This is the 12th industrial investment sale to break the $100 per square foot mark this year. –AP

One of the biggest pain points for women in the industry according to the report is the culture of secrecy around salaries.

If your building represents a sailboat that is quickly or slowly losing wind then pull it out of the water and put an engine on that sucker because if you don’t make a change soon your boat will be dead in the office market water.

Despite a red-hot streak that’s outperformed other commercial real estate (CRE) asset classes, it seems that bullish sentiment on the industrial sector is finally cooling off.

This month, we are going to continue the school day and, along the way, weave in the theme of renovation being covered throughout this issue of Properties.

With the Top Tech series of blogs, we aim to highlight some of the ones that have caught our attention while also showcasing the work of NAI partners that we feel are changing the CRE game.

The cost of specific materials like steel and plastic sky-rocketed, leaving construction firms caught between shrinking profit margins and a sharp decrease in available labor.

Though the construction industry was a strong performer, with an additional 32,000 employees hired, it’s worth noting that this figure would likely have been much higher if there were more workers available.

A recent report from the Federal Deposit Insurance Corporation (FDIC) states that Commercial Real Estate (CRE) lenders are about to come under greater scrutiny. In the report, titled “Supervisory Insights Summer 2022”, the agency adds that there will be an increased focus on new lending activity, along with CRE sectors and geographic areas that are “under stress.”

While Excel has certainly changed the landscape of accounting and financial analysis, it wasn’t the pioneer.

The good news in 2022 is that, as business travel and tourism resume, the hospitality sector seems set to hit highs we haven’t seen since before the pandemic.

New data from commercial real estate (CRE) data provider CRED iQ shows the delinquency rate for commercial mortgage-backed securities (CMBS) continued its downward trend in June 2022, dipping to 3.30%, marginally down from 3.32% the previous month.

Additionally, on the residential side, their PMI research indicates “a steep contraction in demand for real estate amid tightening financial cost of living”.

A new report out from JP Morgan Chase provides an interesting mid-year review for commercial real estate (CRE).

Earlier this year, the National Association of Realtors (NAR) predicted only a modest rise in cap rates in 2022, counterbalanced by upward pressure in CRE prices.

The use of technology in real estate seems to follow a similar path, with innovations taking months, if not years, to be integrated into the industry

The starting point for Apollo’s commercial services is typically an energy audit that helps clients determine the best way to streamline their building’s operations and bump up energy efficiency. Apollo also advises clients on how to meet safety, health, and wellbeing requirements in line with today’s ESG standards.

There’s no getting around it – the last couple of years have not been kind to the office sector.

As we continue through a summer of uncertainty, the questions are not just increasing but also getting tougher.

With a population of just under 200,000 people, Hamilton is the fourth most populous city in the country. In 2020, it was named ‘most beautiful large city in New Zealand

One of the most common (and easy to understand) metrics used by a lender is the loan-to-value (or LTV) ratio.

In May, law firm DLA Piper released the 2022 edition of their Annual State of the Market Survey report, highlighting that “optimism about the future of commercial real estate (CRE)” remains strong despite the headwinds the industry faces.

A recent look at the numbers shows that real estate investment trusts (REITs) didn’t escape the sell-off

The continued presence of market fundamentals like increased consumer spending and job growth are adding to the sense of resilience seen from the sector, which has made huge strides since the dawn of Covid-19 kicked online shopping and fulfilment into particularly high gear.

Foreclosures in the US were up in the first quarter of 2022 – setting what the data provider calls a “post pandemic high”.

According to a recent article by the Massachusetts Institute of Technology (MIT), things are moving fast in the Asian real estate market.

South Korea’s economic success is one for the textbooks – countless case studies have been done on the rapid transformation that took this economy from a “developing nation” to a global leader in record time.

“Strong borrowing and lending backed by commercial and multifamily properties drove the level of mortgage debt outstanding to a new high at the end of 2021.”

According to a forecast from the Mortgage Bankers Association (MBA), 2022 is set to be a record-breaking year with mortgage borrowing and lending activity for commercial real estate (CRE) assets surpassing one trillion USD.

Though it’s still early days, and impossible to say how the virtual property trend might play out, the recent developments in the space suggest it’s certainly worth keeping an eye on. At the very least, the metaverse poses an interesting proposition, and one a lot of people seem to be willing to speculate on.

In the commercial real estate (CRE) context, the value of drone technology is also rapidly becoming apparent.

As we continue to commemorate Women’s History Month, it is a fitting time to celebrate the remarkable contributions of the women of Pleasant Valley Corporation / NAI Pleasant Valley. Stacy Tramonte, President of Property Management and daughter of co-CEOs Barbara and Gino Faciana, exemplifies the boundless potential of women in business and leadership. Stacy’s professional journey began at Baldwin Wallace College, where she earned her Bachelor’s degree in Business Management with a minor in Human Resources. In 1996, she joined…

Joe Hauman Senior Associate One question I often get asked by prospects is, “What is considered industrial real estate?” Like many things in real estate, the true answer is that it depends. Here are five things I consider when determining whether a property falls within the industrial sector of commercial real estate: For the most part, even a novice can decipher a commercial building sector just by looking at the building. I only use these criteria in the event of…

Alec J. Pacella, CCIM I’ve always been a fan of listening to music and some of this is the result of a famous promotion in the 1970s through 1990s by a mail-order music distribution powerhouse known as the Columbia House Record Club. And who could forget their offer – becoming a new member would allow you to order 12 cassettes (or, depending on your vintage, albums, 8-tracks or CDs) of your choice for a mere penny. That’s right, just one…

Alec J. Pacella, CCIM Many years ago, I was meeting with a person that made an off-the-cuff remark of an ownership position in several high-profile properties and made several references to “he and his partners.” This caught me off guard a bit, as this person was relatively young and the portfolio of properties was substantial in value. As the years have passed, I have a better understanding of the many different ways to actually have an ownership position. This month,…