Joe Hauman Senior Associate One question I often get asked by prospects is, “What is considered industrial real estate?” Like many things in real estate, the true answer is that it depends. Here are five things I consider when determining whether a property falls within the industrial sector of commercial real estate: For the most part, even a novice can decipher a commercial building sector just by looking at the building. I only use these criteria in the event of…

Alec J. Pacella, CCIM I’ve always been a fan of listening to music and some of this is the result of a famous promotion in the 1970s through 1990s by a mail-order music distribution powerhouse known as the Columbia House Record Club. And who could forget their offer – becoming a new member would allow you to order 12 cassettes (or, depending on your vintage, albums, 8-tracks or CDs) of your choice for a mere penny. That’s right, just one…

Alec J. Pacella, CCIM Many years ago, I was meeting with a person that made an off-the-cuff remark of an ownership position in several high-profile properties and made several references to “he and his partners.” This caught me off guard a bit, as this person was relatively young and the portfolio of properties was substantial in value. As the years have passed, I have a better understanding of the many different ways to actually have an ownership position. This month,…

The feature that makes blockchain unique is the way that information is recorded. Each “block” can hold a certain amount of data.

Alec Pacella, CCIM Managing Partner – NAI Daus in Cleveland, Ohio @dausyouknow apacella@naidaus.com

By Alec Pacella, CCIM Managing Partner at NAI Daus apacella@naidaus.com (216) 455-0925 Twitter @dausyouknow I always appreciate when readers of this column take the time to reach out to me. Sometimes I know the person and sometimes I don’t but regardless, it is certainly always a delight to hear your comments. Last month, while at a real estate event, I was engaged in a discussion by a reader. This particular individual had one pressing question. No, they didn’t want to…

By Ira Krumholz President of NAI Daus Property Management ikrumholz@naidaus.com Twitter @IraKrumholz One of the primary duties of a property management firm is to ensure that a real estate asset is being properly maintained. While some firms are set up to complete the majority of these services in house, most will use third-party service providers to perform at least some of these tasks. Therefore, the contract between the management company and the service provider becomes a critical document. This month, we…

By Ira Krumholz President of NAI Daus Property Management ikrumholz@naidaus.com A few months ago, most property owners received a letter from their county auditor that revealed their new 2015 re-assessment. Every six years, the Ohio Revised Code requires each county to reappraise all of their respective taxing parcels. These reappraisals are updated every three years, a triennial update. In 2015, all of the parcels in Cuyahoga, Lake, Lorain and Portage counties were updated. Mistakes can sometimes happen, especially considering these…

By Ira Krumholz President, NAI Daus Property Management Division ikrumholz@naidaus.com Momentum was certainly a key word last year. At the top of the list was the great positive momentum associated with Cleveland’s multifamily sector. Much of this was associated with Cleveland’s central business district, which grabbed most of the headlines. During 2015, nearly 500 new units were completed in the downtown area, but despite this additional inventory, occupancy rates continued to hover near 100 percent. There are approximately 275 units…