The following Economic Overview is provided by Jack Kleinhenz, Ph.D. kleinhenzassociates.com As we transition into 2012, the calendar change provides an opportunity to reflect on the previous 365 days and an opportunity to look forward.   If we could reset the clock back a year, the same issues that we are facing are nearly the same – unemployment, monetary easing, inflation, the European crisis.  While one might conclude that we will tread water and possibly end 2012 as we began, it…

Have you watched the A&E show, Storage Wars?  Well Alec Pacella draws parallels between the show’s four main characters and many investors in Cleveland.  Read more.

Ira Krumholz, President of the Asset Services division at NAI Daus in Cleveland, Ohio was honored by NAI Global, the world’s premier network of commercial real estate service providers, with its Council Appreciation Award. This award also recognizes Krumholz’s leadership as chairperson of the NAI Global Asset Services Council in 2011. NAI councils are working groups of specialists across the NAI network who come together to share experience and develop best practices that result in the highest level of service…

Alec Pacella, Senior Vice President at NAI Daus in Cleveland, Ohio was honored by NAI Global, the world’s premier network of commercial real estate service providers, with its Council Appreciation Award. The award recognizes Pacella’s leadership as chairperson of the NAI Global Investment Council in 2011. NAI councils are working groups of specialists across the NAI network who come together to share experience and develop best practices that result in the highest level of service for clients. The award was…

Blog post is from NAI Global C-III Capital Partners LLC (C-III) announced today that it has completed its previously announced acquisition of NAI Global, the largest and premier network of independent commercial real estate firms worldwide. C-III is led by CEO Andrew L. Farkas, who founded and was Chairman and CEO of Insignia Financial Group, Inc. (NYSE:IFS). “The completion of this transaction represents a significant step forward in our strategy to build a fully diversified commercial real estate services company,”…

Robert Wetzel, Broker Associate at NAI Daus represented Northeast Steel and Machine Products Inc. in the sale of their facility located at 4500 Hudson Drive in Stow, Ohio. The transaction took less than 120 days from listing to closing.  Evant Inc., a residential provider for people with developmental disabilities, recently purchased the 21,400 square-foot industrial facility for their own use.  Jim Pickard of Pickard Commercial Group represented Evant Inc.

David Hexter, SIOR, Principal and Jeffrey Calig, CCIM, Vice President, both members of NAI Daus’ Industrial Team, recently brokered several transactions in the Southeast Submarket of Cleveland, Ohio. They first brokered the sale of a 70,000 square-foot high-end industrial facility located at 29500 Fountain Parkway in Solon, Ohio.  Barudan America sold the facility to a local buyer.  Barudan America is now leasing 34,970 square-feet at 30901 Carter Street in Solon, Ohio.  Hexter and Calig represented Barudan America in the sale…

Columbus-based Bonded Chemicals Inc. purchased the 44,325 square foot industrial building located at 909 West Smith Road in Medina, Ohio from Veolia ES Technical Solutions. Bonded Chemicals Inc. is a chemical distribution company that serves a 10 state area throughout the Midwest and beyond.  Their new facility in Medina will provide them with rail service and better access to customers.  The facility was also originally constructed for chemical storage. Bob Brehmer, CCIM and Managing Partner at NAI Daus states, “We…

Cleveland’s NAI Daus recently completed a sale of Snap-On’ s Wooster facility to Wooster Growth Corporation. Commonly known as the Bell and Howell plant, the 95,000-square-foot industrial facility is located in Wooster, Ohio. It will in turn be leased to ABS Materials. ABS Materials was approved for a redevelopment loan and a job-creation tax credit by the state of Ohio in September, which helped in securing the Wooster location. ABS is an innovator in the field of advanced filtration and separation. This…

Cleveland has a few projects on there list – An Uptown arts and entertainment district, a 60,106-square-foot building with 70 rental apartments above 21,189 square feet of restaurant and retail space, along with a planned $26 million, 150-room Marriott hotel just down Euclid on Cornell Road. There is no hiding it but, in a slow economy it takes a few years, we are seeing new development up and down the Euclid corridor.  Read more about how Cleveland plans to change Uptown into the…