CYCLING UP! Several years ago, I had the opportunity to listen to a noted professor and author by the name of Glenn Mueller. In addition to being on the faculty at the University of Denver, he also has written several notable research publications. One of the things that Mueller often talks about is what phase we are in according to the real estate cycle and as we close out 2014 and look forward to 2015, I have no doubt that…

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Alec Pacella, CCIM, Managing Partner at NAI Daus explains the meaning of commercial real estate designations. If you have ever spent time around commercial real estate professionals, you have undoubtedly seen various letters that follow some of our names. For example, my business card reads “Alec J. Pacella, CCIM.” The letters “CCIM” represent a real estate designation that I have achieved. And although some may have an understanding of this designation, most can only guess as to its meaning. This…

Interest in property for investment has been growing by leaps and bounds. If you’re willing to take the risks associated with owning commercial property and want a higher yield than banks are offering, it might be time to become a landlord. “Today, people are looking for yield,” says Bob Brehmer, principal, NAI Daus. “They are getting point-nothing at the bank. “And when you balance your risk with reality by picking a team to help you, it’ll be a more successful…

Below is a highlight video of our annual Commercial Real Estate and Economic Overview event.  This year we celebrated the 50th anniversary of NAI Daus, originally established in 1964 by Alan R. Daus. The event was held at the end of June at Progressive Field, with a cocktail reception on the Home Run Porch. Alec Pacella, managing partner at NAI Daus gave the market overview and he did a look back to events from 50 years ago. Jack Kleinhenz, Ph.D (kleinhenzassociates.com)…

Our NAI Daus Property Management Division sponsored the local ABB’s (abb.com) annual charity golf outing to benefit Rainbow Babies & Children’s Hospital and JDRF. The event took place at Fowler’s Mill Golf Course in Chesterland on Saturday, August 9th, 2014.  BPS Management, a Division of NAI Daus, is a full service property management company specializing in Office, Industrial, Retail, Facilities Management, Multi-Housing and Student Housing. Contact Ira Krumholz at 216-455-0905, ikrumholz@naidaus.com

The Northeast Ohio office market continues to improve and overall net absorption year to date is nearly 50,000 square feet. Large blocks of class A space are scarce in some areas, prompting plans for several new office developments between downtown and Chagrin Boulevard. The developers of the Flats East Bank Project have announced plans to proceed with a second office development, likely on a speculative basis. Phase II of the project is already underway with apartments and retailers being added…

Cleveland’s investment market continued to show strong momentum as we approached the mid-year point. Total sales volume for the quarter was just over $190 million while the total year-to-date volume was approximately $350 million. Several trends have emerged during the year. One of the most interesting was the resurgence of sales activity in the retail sector. Although it was one of the most battered of all the property types during the economic downturn, it has surged back and represents 42…