Commercial Real Estate Fundamentals Stay Steady in Akron, Ohio

By Jerry Fiume, SVN Summit Commercial Real Estate Advisors You’ve heard it before. In Akron, everything is earned, and nothing is given. No quote better represents the fabric of the City of Akron, Summit County and Northeast Ohio. Aside from an unstoppable work ethic, the other key characteristic of our marketplace is one of steady consistency. Our pricing is steady, our cap rates are steady and our opportunities are steady. With that said, there is a renaissance underway in our area. Akron …

September 16, 2021Industrial, Market Reports, Midwest, Midwest Market Reports, Office, Ohio, Retail

Demand Rises for Convenient, Quality and Affordable Retail in Cleveland

By Catherine Lueckel and Allison Giomuso, Matthews Real Estate Investment Services In nearly every major metro in the Midwest, the most active retailers expanding, leasing or developing involve grocers, discounters and drive-thru tenants. Most of the activity in the Midwest is reflective of the broader trend in shifting consumer demands, away from wants and more toward needs and services. Discount retailers It’s no surprise that discount retailers rose in popularity among shoppers …

September 2, 2021Market Reports, Midwest, Midwest Market Reports, Ohio, Retail

Cincinnati Industrial Market Is Positioned for Even More Growth

By Jeff Bender, Cushman & Wakefield Cincinnati and Northern Kentucky have the same logistical advantages they’ve always had, with their location within a day’s drive of two-thirds of the U.S. population, allowing reach and penetration to major metro areas. With those advantages, the region has enjoyed a robust industrial market, similar to most key markets in the country. Lessons learned from the pandemic, the pending opening of a nearly 1 million-square-foot e-commerce national air …

August 12, 2021Industrial, Market Reports, Midwest, Midwest Market Reports, Ohio

Strong Investor Demand for Cincinnati Apartments Drives Up Pricing

By Noah Juran, NorthMarq Cincinnati remains a highly sought-after market for multifamily investors as the U.S. emerges from the COVID-19 pandemic. The Cincinnati area’s apartment market fundamentals, including rent growth, rent collections and occupancy levels, are holding up well. Significant amounts of capital — including local, out-of-state and international — are aggressively seeking to be deployed into multifamily assets, which continues to drive up pricing.[caption …

August 5, 2021Market Reports, Midwest, Midwest Market Reports, Multifamily, Ohio

Toledo, Ohio Market Shows Stability in Various Areas

By Harlan Reichle, Reichle Klein Group As the Toledo, Ohio, area’s retail market proved to be stable and solid in the second half of 2020 and the industrial market continued a remarkable stretch of high performance since the Great Recession, 2020 was a tough year for the office market. However, all three property types have yet to register any negative COVID impact in our latest survey results. Retail Toledo’s retail market proved to be quite stable and solid during the second half of …

June 17, 2021Industrial, Market Reports, Midwest, Midwest Market Reports, Office, Ohio, Retail

Stable Columbus Multifamily Market Balances Urban, Suburban Growth

By Ryan Duling and Andy Warnock, Lument Sizing up the Columbus, Ohio multifamily market is more challenging than it may seem to the casual observer. Neither fish nor fowl, Columbus doesn’t fit comfortably within the definitions of either growth or high-yield markets. Looked at from one angle, it appears largely suburban and conventional, but from another, increasingly sophisticated and demographically youthful.[caption id="attachment_290333" align="alignright" width="100"] Ryan Duling, …

April 29, 2021Market Reports, Midwest, Midwest Market Reports, Multifamily, Ohio

Three Reasons Cincinnati Is Industrial Hot Spot of America

By Brian Leonard and Mark Volkman Tides are changing throughout the U.S. as companies work to confront COVID-19 and its implications on the national supply chain. Changing consumer preferences are forcing businesses to reevaluate their current supply chain and diversify their sources of supply. Since COVID-19, retailers across the country have experienced a 54 percent increase in online sales. This shows the value shoppers place on convenience and accessibility — the only missing factor …

August 20, 2020Industrial, Market Reports, Midwest, Midwest Market Reports, Ohio

Ohio Delivers High Property Tax Values

By Steve Nowak, Siegel Jennings Co. A recent decision from an Ohio appeals court highlights a developing and troubling pattern in the state’s property tax valuation appeals. In a number of cases, an appraiser’s misuse of the highest and best use concept has led to extreme overvaluations. Given its potential to grossly inflate tax liabilities, property owners and well-known tenants need to be aware of this alarming trend and how to best respond. In the recently decided case, a property …

June 18, 2020Market Reports, Midwest, Midwest Market Reports, Ohio, Restaurant, Retail

Low Vacancy Rate in Toledo Industrial Market Prompts Call for More Spec Space

By Lynette Reichle, Reichle Klein Group On March 12, Ohio’s governor declared a state-wide order closing schools and gatherings of over 100 people. On March 15, he ordered all bars and restaurants to close dining rooms (but could maintain carryout and delivery) with further closings on almost a daily basis. Finally, the stay-at-home order came on the 22nd. As of the writing of this article, it is difficult to estimate the full effects of the COVID-19 pandemic and what the moves our …

May 28, 2020Industrial, Market Reports, Midwest, Midwest Market Reports, Ohio

Developers Flock to Columbus Industrial Market

Columbus continues to be a powerhouse in the industrial market of the Midwest. Fueling this growth are its strategic logistics location as well as being the Ohio state capital and home to eight colleges and universities in central Ohio. Job creation in Columbus remains ahead of Ohio with employment expanding nearly 22 percent since 2010, twice the state’s rate of expansion. The region’s largest employers include The Ohio State University, OhioHealth, JP Morgan Chase and Nationwide Mutual …

April 9, 2020Industrial, Market Reports, Midwest, Midwest Market Reports, Ohio