Plug in: Tight industrial market makes being connected critical for buyers, tenants
The industrial property vacancy rate in Northeast Ohio at a historically low 2.5 percent. The cost of capital as well as a lack of new inventory coming online has made for a frustrating time for those needing new property to expand their business. Though Northeast Ohio is a market that typically gets a lot of … Continued
Read moreWhy Is My Office So Cold?
Ever feel like your office is on the front lines of a never-ending thermostat war? Some like it hot, some like it cold, but getting it “just right” seems like a re-write of Goldilocks at the office. At CRESCO, we’re not just bystanders; we’re in the trenches with you, navigating the quirks of various office … Continued
Read moreCleveland’s Rail Revolution: A Catalyst for Urban Transformation
The potential expansion of rail service through Cleveland is a development that’s not receiving its due recognition. Recently, four Ohio rail routes were chosen for passenger service expansion, with funding allocated for construction plans. This is a pivotal moment for our city. Currently, Cleveland’s passenger rail service is lackluster, offering limited, infrequent, and inconvenient east-west travel. But … Continued
Read moreThree Surprises from Our Office Move
After nearly 20 years in the same spot, it was time for a fresh start. The way we engage with our clients and each other has changed. We have a heavy reliance on tech, while encouraging in person interaction (we’re in the office a lot). We knew moving would be a heavy lift. Whether office, … Continued
Read moreIndustrial real estate’s continued tightness challenges buyers and tenants
The industrial real estate market is currently thriving and stands as one of the most robust sectors within the commercial real estate industry. “There is widespread demand and historically low vacancy across the country,” says Maureen Anter-Ressler, a Senior Associate at Cushman & Wakefield | CRESCO Real Estate. “And because of those two factors, both the … Continued
Read moreCushman & Wakefield | CRESCO Real Estate Opens Downtown Office in Cleveland’s Iconic Halle Building
At Cushman & Wakefield | CRESCO Real Estate, we strongly believe in practicing what we preach. That’s why opening a downtown office is a natural progression for us. Our new office in the renowned Halle Building on Euclid Avenue offers 5,000 square feet of prime, high-profile space, opening June 15th, 2023 The decision to choose … Continued
Read moreThe Right Fit: How Organizations Big and Small Are Leveraging Co-working Spaces
Co-working spaces are becoming increasingly popular as businesses large and small leverage the flexibility they provide. The arrangement allows organizations or individuals to lease either an individual office or workstation and share amenities such as conference rooms, lounge areas and more, splitting the costs with other tenants. It offers privacy for those looking to put … Continued
Read moreShrinking Industrial Real Estate Options in Northeast Ohio Drive Up Tenant Costs
The Northeast Ohio industrial real estate market continues to tighten, with the vacancy rate at a historically low 3 percent. For tenants on a lease that need to stay in their current building or need to move because their requirements have changed, these conditions leave very few alternatives. “As recent as five years ago, when … Continued
Read moreIs Cleveland the Next 18-Hour City?
Cleveland is a rising 18-hour city, and we have the potential to become one of the most vibrant and livable cities in the Midwest. To achieve this, we have to invest in education & jobs and overhaul our infrastructure to meet the needs of a new generation of city dwellers and employers. Those planning efforts … Continued
Read more5 Important Commercial Trends for 2023
As we approach the end of 2022, it’s natural to start thinking about what the next year might bring for the commercial real estate market. Here are five commercial real estate trends that we expect to see in 2023: 1. Continued growth of e-commerce and the need for warehouses and distribution centers The COVID-19 pandemic … Continued
Read moreBlack Friday’s Impact on Retail Real Estate
Black Friday 2022 was undoubtedly one for the books. Despite concerns about inflation, Black Friday sales raked in a record $9.12 billion worldwide. What’s more, in-person shopping increased nearly 3% this year compared to last, and visits to physical stores on Thanksgiving Day alone leaped 19.7%. Each holiday season is crucial to retailers’ success. … Continued
Read moreWhat Is a Sale-Leaseback, and Is It Right for Me?
Commercial real estate investors are facing an interesting market in Cleveland, with interest rate increases and construction costs, many are wondering if it’s time to consider a sale-leaseback. Simon Caplan, SIOR, a partner at CRESCO Real Estate, recently sat down with Smart Business to discuss who should consider a sale-leaseback, especially in this tight industrial … Continued
Read more
To learn more about how CRESCO, Greater Cleveland’s leading commercial real estate company, can help you with your property needs, contact us at 216.520.1200, or fill out the form below. A CRESCO professional will contact you shortly.