Luttner Retail Group of NAI Daus facilitates sale of 50% interest in Landerwood Crossing Class “A” Office Building.The Luttner Retail Group of NAI Daus announced the sale of a 50% ownership interest in Landerwood Crossing, the newest and most prominent Class “A” Office Building in the Cleveland MSA. Mark Luttner represented the Seller, a local developer, while also procuring the Purchaser for the 50% interest, an out-of-state private investor. The total market value of the asset was $13.5 million. The…

Now available For Lease, 4614 Prospect Avenue, Cleveland, Ohio. The building know as Prospect Park, features 1920’s architecture with excellent modern renovations. NAI Daus and Scott Garson, CCIM are pleased to exclusively offer 70,556 square feet of office space located at the corner of Prospect Avenue and East 46th Street in the heart of Cleveland’s MidTown. There are 5 stories with a minumum contiguous space of 186 SF and a maximum contiguous space of 17,795 SF. Inside this office building…

Must sell, price reduced to $1,500,000. Former restaurant located at 25800 Central Parkway, Beachwood, Ohio. This property has many great features, if you are looking for location this is a must see building. It is located near one of the busiest intersections in Northeast Ohio, right off I-271. Also located across the street from Homewood Suites Hotel. The daytime population is well over 57,000 people within a 3 mile radius. The building is 5,728 SF with 75 parking spaces available,…

2nd Quarter 2009 Market Reports Are Available For Download: Contact NAI Daus with any further commercial real estate questions,216 831 3310

In difficult economic times, NAI Daus continues to see significant growth in our property management division. NAI Daus now represents several banks and lenders as they take back non-performing assets. We are able to act as a receiver and/or property manager, working to stabilize a property and recommend holding, leasing, or selling the asset. Our brokerage division has the capacity to lease and sell troubled assets. Also our property managers work to retain existing tenants. Providing the services which gives…

Warrensville Heights, Ohio – NAI Daus has brokered the sale of a 23,594 square foot industrial facility located at 18780 Cranwood Parkway, Warrensville Heights, Ohio. BB Buckle, LLC has purchased the facility for an undisclosed dollar amount. The building, which is situated on 2.07 acres, includes 4,394 square feet of office space, two docks and 2 drive-in doors. Jeffrey Calig, CCIM and David Hexter, SIOR of NAI Daus represented the seller in this transaction. Are you thinking about selling or…

Adam Howe, Senior Industrial/Office Specialist of Cleveland-based NAI Daus arranged the lease extension at 6955 Treeline Drive, Brecksville, Ohio. The 21,820 square feet is occupied by CSI Infusion Services, Incorporated. The Lessee was represented by Joseph Messina of Jones, Lang, LaSalle. With the lease extension, CSI will be updating the existing clean room and general office area to accommodate their current and future business needs. Treeline Business Park is a 43 acre office flex park located in beautiful Brecksville, Ohio.…

Commercial Real Estate Global Spotlight – Cleveland, Ohio Cleveland looks to healthcare sector, convention center for future growth. Although activity in the investment market has fallen with the capital markets, the underlying market fundamentals in the Cleveland real estate market overall have remained solid with stable vacancy rates and slow but steady net absorption across most property types. The CBD Office market continues to be the most active, with several large tenants in play that will likely result in the…

“Blend and Extend” is becoming more popular in commercial real estate. Alec Pacella, CCIM, Sr. Vice President of NAI Daus discusses this concept in the June issue of Properties Magazine. This blog entry will provide you with an example of Blend and Extend. “Blend”- A tenant’s schedule of lease payments is altered. “Extend”- The length of the lease is lengthened. This concept is simple and it can be beneficial for tenants and landlord, but there are potential pitfalls. With the…

Now Available For Lease Chester Commons at Chester Avenue and East 12th Street in Cleveland, Ohio. This excellent 4 story office building has been exclusively listed by NAI Daus and Scott Garson, CCIM.  Available for lease is approximately 3,000 to 40,000 square feet.  The typical floor size is 14,370 square feet.  It was fully renovated in 1999 and now has great lease rates.  There is a wonderful atrium located on the second floor providing natural lighting in the building.  This building is…