Several years ago, April 2010 to be exact, I wrote a column titled ‘Suvivorman’. At the time, we were a couple years into the economic downturn and there was no quick end in sight. That column drew several parallels between a couple popular survivalist type reality TV series and the then-current real estate market. Half a decade later and the real estate market is significantly better. However, these shows didn’t just focus on getting through the bad times but also…

The President of our Property Management, Ira Krumholz, CPM ®  talks about all aspects of Property Management Services provided by NAI Daus. When you hear the phrase property management, what comes to mind? Perhaps you think about the employee at an apartment building that shows vacant suites to prospective tenants and coordinates moving in and out? Or maybe you think about the maintenance person at your office building that is called when there are some lights bulbs that need to be changed or the heat just isn’t keeping up…

Measuring time in the world of technology is a lot like measuring dog years – but with a good dose of Red Bull in the mix. New hardware has a shelf life of about a year, with software constantly scrambling to keep pace. This month, I am going to take a look at some of the latest apps that take advantage of this ever-changing technology. Many of these are directly related to the commercial real estate industry but I threw in some general apps as well. And don’t be…

CLEVELAND HEIGHTS, OHIO — NAI Daus has arranged the $1.3 million sale of a 50-unit apartment complex in Cleveland Heights. The apartment property is located at 2734 Noble Road. Boston, Mass.-based Noble Summit Apartment Properties LLC purchased the property. Alec Pacella of NAI Daus represented the seller, Noble Summit I&II LLC. – See more at: http://rebusinessonline.com/nai-daus-arranges-1-3m-sale-of-50-unit-apartment-complex-in-cleveland-heights-ohio/#sthash.KlGoIzh2.vV8O9fXI.dpuf

Cleveland’s investment market turned in another strong year in 2014. Bolstered by improving real estate fundamentals and increased access to debt, investors were active across most sectors. And although distressed real estate continues to play a role in the overall market, it has significantly diminished when compared to a few years ago. After seeing the investment sales volume bottom out in 2009 at just over $190 million, the market has benefitted from a slow but steady improvement. The investment sales volume for 2014 was $714 million.…

Author: Alec Pacella NAI Daus – Managing Director [email protected] Twitter @dausyouknow In 1994, I purchased my first house – hard to believe that was over 20 years ago. And  although it was exciting, the thing that I remember most about that house was a conversation with the lender about the mortgage. I know – I have issues, but those that were around the real estate biz back then may remember how mortgage rates were at “historical lows.” And at 7.75%, my rate was indeed attractive (at…

The Northeast Ohio office market ended 2014 with minimal fanfare statistically speaking, but the future looks exceedingly bright. Overall, vacancy increased a minimal .32 basis points, mainly due to the addition of a now vacant suburban office building in the Southwest submarket, formerly occupied by NASA. But this seemingly lackluster activity doesn’t paint the complete picture. The Central Business District (CBD) is in the midst of a renaissance, which took center stage in 2014. The city’s resurgence received national recognition…

The Northeast Ohio Industrial market is the tightest it has been in well over a decade and ended 2014 at 6.92 percent vacant. This is a decrease from 7.69 percent at the end of 2013. Over the course of the year, there was 2.7 million square feet of net absorption, as compared to 2.4 million in 2013. However, helping to moderate this increase was the fact that suitable industrial product became more difficult to acquire in 2014 as the market…

NAI Daus announced today the promotion of Jill Dzina, ARM ® to Assistant Vice President and Senior Property Manager in the Property Management Division of NAI Daus. “Jill’s impressive track record and dedication makes her a natural choice for this position,” said NAI Daus’ President of Property Management, Ira Krumholz. Our focus on building relationships is fundamental to our business and Jill has consistently demonstrated her ability to connect with clients by understanding their business challenges and providing the right…

Windows to the Past You know you are getting old when you start measuring passing time by referring to decades rather than years. As I organized my thoughts for yet another year-end recap of Cleveland’s investment market, I began to think back not to last year but rather last decade – 2004 to be exact. You may recall that this was a time of great promise in Cleveland. LeBron James had just finished his rookie year and was a budding superstar as he started his sophomore season. Ground…