Architects can play a key role in helping your company create a workspace that matches your vision of how you want the company to operate. “An architect can sit down and interview your key people and gain an understanding of how everyone works in your business,” says Alec Pacella, managing partner and senior vice president at NAI Daus Property Management. “He or she can understand the critical components of your business and see what parts of the office need to…

On the eve of yet another youth soccer season, I recently took my son to the sporting goods store to buy a new pair of soccer shoes. We narrowed the choice to three – a relatively inexpensive pair, a moderately priced pair and an expensive pair. And to my surprise (or shock), my son didn’t immediately focus on the most expensive pair. Instead, he began to ask questions about why there was such a difference in price. And this led…

A wise real estate Yoda once told me that all a real estate agent has to offer are two things – time and knowledge. And sales comparables are certainly at the front of the line when it comes to knowledge. Commonly known as ‘comps,’ individually, they can provide guidance when attempting to value a similar property. And collectively, comps can provide insight into pricing trends, sales velocity and buyer characteristics. Back in the ‘old days,’ there were not many sources…

Written by Ira Krumholz, CPM® President of NAI Daus Property Management Division [email protected] Twitter @IraKrumholz 216-455-0905 Determining the value of a real estate asset is never an easy thing but the historic free fall in real estate values a few years ago and subsequent uneven recovery has made this task significantly more difficult. This month, we are going to discuss how a tumultuous market can impact the traditional approaches to determining value – cost approach, sales comparable approach and income capitalization…

Last month, we began a discussion regarding an analysis to compare a challenging decision that often faces a real estate investor – maintain the property as-is or upgrade the property with the expectations of achieving a higher rent. If you missed last month’s column (and shame on you if you did), we set up the following scenario: an investor owns a single-tenant office building and the tenant’s lease is expiring. The tenant is interested in renewing their lease. But the building is located…

There are many decisions that real estate investors have to make during the course of their ownership of an investment property. And one of the most challenging is the decision to upgrade the property with the goal of attracting a higher rent versus continuing as-is at the current rental rate. This month, we are going to discuss an effective way to compare these two scenarios by using a couple of familiar financial tools. You may recall that although IRR and NPV have different definitions, they can be considered…

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