We are going to step back to October and review the on-again, off-again investment market.  And for October it was on again.  Two transactions worth discussing are the sale of the Mopar Building for $10.9 million or $31 psf and the sale of the AmTrust building (which NAI Daus represented both the buyer and seller in this transaction) for $2.1 million. So are buyers more confident in their ability to obtain financing?  Only time will tell.  As the holidays are…

After a couple of tough years, the Cleveland real estate market began to stabilize in 2010.  Although the manufacturing and banking/finance segments are still sorting through the dramatic economic shift that has occurred since 2007, job losses have stemmed and activity levels have showed signs of increasing.  This has translated into a small but growing number of tenant activity across much of the office and industrial sectors. Despite some significant corporate consolidations over the past few years, the central business…

NAI Daus completed a lease in The Centrum Building, located at 2781 Euclid Heights Blvd. in Cleveland Heights, Ohio with FRACAS restaurant.  The 7,134 square-foot restaurant space, formerly Jonny Malloy’s, is located on the first floor of the historic Centrum Building, which was built in 1920.   FRACAS will join Big Dog Theater, Chipotle, City & East Hookah and Spirits!, and The Doghouse at the Centrum. Chris Seelig, Director of Retail Services at NAI Daus, represented the landlord in this transaction,…

This month in Properties Magazine, Alec Pacella, CCIM, Sr. Vice President at NAI Daus discusses how the show Mad Men relates to the real estate industry.  You will also learn about what is a mortgage constant, enjoy and read on… We would like to talk to you about your commercial real estate needs, contact NAI Daus today: 216 831 3310 | [email protected]

It is Monday morning and everyone looks ahead at the calendar to see what they have planned.  We also do it here at NAI Daus, why, because we like it when stuff happens. Of course the brokers have site tours and phone calls to make, all part of their everyday business, but one event for this week is The Westside Tour.  This tour is open to Northeast Ohio brokers who want to visit 4 industrial building on the Westside of…

We have recently signed two new office leases. Horizon Health Services has leased 3,923 Sf at 4608 St. Clair Avenue. The State of Ohio has signed a lease for 2,466 SF at 4614 Prospect Avenue.   It is no secret that the commercial real estate industry has seen better times.  However, that does not mean deals are not getting done.  Quite to the contrary, the City of Cleveland continues to attract investment from businesses who desire to be “where the…

The investment market in August 2010 is a perfect illustration of the pitfalls of just focusing on overall sales volume. The volume of $46.5 million would lead one to believe that the market had a good month. However, a quick peek behind the numbers shows otherwise, as this volume is comprised of just a single transaction. That’s right, there was only a single investment transaction that closed in August. This tells me two things – first, despite much hope, the…

NAI Daus completed a lease in The Centrum Building, located at 2781 Euclid Heights Blvd. in Cleveland Heights, Ohio with Cleveland Improv Institute.  The 4,144 square foot theater space is located on the second floor of the historic Centrum Building which was built in 1920.   Cleveland Improv Institute will operate as Big Dog Theater and will join Chipotle, City & East Hookah and Spirits!, and The Doghouse at the Centrum. Chris Seelig, Director of Retail Services at NAI Daus, represented…

NAI Daus completed a 75,600 sf sale to Nestlé Prepared Foods Company. Nestlé Prepared Foods purchased the building located at 30500 Bainbridge Road in Solon, Ohio from the seller, Keithley Instruments, Inc., for $3,800,000.00.  Nestlé needed the additional space for its campus employees as its business has been growing.  Nestlé currently owns several buildings in the Bainbridge/Harper roads area of Solon. “We are very pleased to have a significant international company like Nestlé buy the property, as it reinforces Nestlé’s…

NAI Daus exclusively represented PIRHL, LLC in a one acre land purchase from Eaton Rugby LLC.  PIRHL LLC is a developer of senior housing projects, and will begin construction October 1, 2010, on the development of Church Square Commons.  Located at East 75th Street and Euclid Avenue in Cleveland, Ohio, this 48 unit senior housing project will be located on the RTA Health Line, surrounded by many amenities for active residents.  The project will result in the demolition of Eaton &…