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Commercial Real Estate INSIGHTS

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Find the information you need to make informed commercial real estate decisions with up-to-date insights and the latest commercial real estate news. Our Coldwell Banker Commercial brokerage professionals provide invaluable, game-changing advice for businesses, identify real estate opportunities that others might overlook and offer creative solutions and sound business sense in an ever-changing environment. For more information, contact one of our specialists today.

COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Land Sales Trends

Insights: Land Sales Trends

The U.S. economy entered a recession in February, 2020, per the National Bureau of Economic Research. Commercial real estate development typically slows during a recession because developers do not want to incur the holding costs of land parcels if there is not an expected demand for new product.

Insights: Student Housing 2020

Insights: Student Housing 2020

The main uncertainty in the student housing sector is COVID-19’s impact on the 2020-2021 school year’s leasing. There is a variety of factors which make the student housing occupancy outlook uncertain.

COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Landlord Employer Liability

Insights: Landlord Employer Liability

The ongoing coronavirus pandemic raises the question of whether landlords with leased properties can be held liable for injuries sustained when someone contracts COVID-19 at the premises.

Opportunity Zones & Taxes

Opportunity Zones & Taxes

What are Opportunity Zones? The real estate industry is buzzing about this new program which allows private investment in country’s distressed communities. CBC brings you a quick overview to help you understand what they are and how investors can use them for their benefit.

Regional Summaries

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Cleveland, OH

Apartment
The 117,977-unit Cleveland apartment market had a first quarter 2019 vacancy rate of 4.4%, down 20 basis points for the period and up 80 year-over-year. The average asking rent increased 0.3% during the first quarter to $934 per month, and the average effective rent rose 0.2% to $892 per month. These rates were up 6.0% and 5.2%, respectively, over the year. VIEW APARTMENT LISTINGS >
Industrial
Cleveland's 176-million-square-foot warehouse/distribution market finished the first quarter of 2019 with a slight fall in vacancy and improving rents. The 9.2% vacancy rate was down 10 basis points over the quarter and down 40 basis points over the year. The average asking and effective rents, at $4.37 psf and $4.12 psf, respectively, were both up 0.7% in the first quarter. These rates were up 2.1% and 2.0% for the year. For 11.3 million square feet of Cleveland's Flex/R&D space, Reis reports first quarter 2019 vacancy at 17.2%, up 110 basis points over the quarter and up 80 over the year. This market struggles with consistently high vacancy. Average asking and effective rents, at $7.67 psf and $7.23 psf, are unchanged and down 0.1% for the quarter, and up 1.1% and 1.0%, respectively, over the year. VIEW INDUSTRIAL LISTINGS >
Office
Vacancy in Cleveland's general purpose, multi-tenant office market was 22.3% in the first quarter of 2019, according to Reis's quarterly data. The first quarter vacancy rate is down 40 basis points from the prior quarter and up 50 over the year. The first quarter average asking rent was $19.82 psf, according to Reis. This rate is up 0.4% for the quarter and 1.2% for the year. The first quarter effective rent was $15.74 psf, up 0.4% over the quarter and 1.3% over the year. VIEW OFFICE LISTINGS >

Source: Data provided by Reis, Inc. based on Market Summaries for the 85 Primary and Secondary Markets they cover.

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