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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 >
Retail
Cleveland's 25-million-square-foot community-neighborhood shopping center market showed rent decreases in the first quarter of 2019 while vacancy fell slightly. Reis reports a first quarter vacancy rate of 13.7%, down 10 basis points over the quarter and down 60 over 12 months. In the first quarter the average asking rent decreased 0.7% to $16.06 psf, and the average effective rent fell 0.6% to $13.78 psf. These rents were down 0.5% and 0.3% over 12 months. VIEW RETAIL LISTINGS >
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Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

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.

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CBC Blue Book

CBC Blue Book

The CBC organization is proud to present its’ 2018 Year-End Blue Book!

The Blue Book is a helpful market report with information brought to you by the true “on the ground” experts – the professionals of the CBC organization from all over the world.

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Market Report: Retail Repurposing

Market Report: Retail Repurposing

Up to 80 percent of Americans do at least some shopping online. As Americans shift the way they shop, retailers that have not adapted to the changing environment are closing their doors, with the list of failing brand names growing each year.

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Market Report: Student Housing

Market Report: Student Housing

Healthy demand and numerous shifts in student housing trends have transformed the property sector. Once overlooked by investors for fear of poorly maintained properties and high turnover, this asset class has become resilient, boasting handsome returns.

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CBC Infographics

Shopping In-store vs. Online Shopping

Shopping In-store vs. Online Shopping

The retail industry is in the midst of epic change and while some predict the end of brick and mortar stores, a recent Coldwell Banker Commercial Affiliates survey conducted online by Harris Poll aimed to explore current shopper preferences and trends to determine the real state of commercial real estate today.

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Commercial Real Estate & Technology: The Generational Divide

Commercial Real Estate & Technology: The Generational Divide

Infographic that addresses how each generation sees aspects like the adoption, use and importance of technology. Ultimately, each generations’ concerns come down to the impact that new technology will have on the industry.

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The Growing Value of Digital Tools

The Growing Value of Digital Tools

Which digital tools do commercial real estate professionals value most, and what devices are they using to access them, and how are these professionals’ technology habits likely to change in the years to come?

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Workers Prefer Dynamic and Efficient Office Space

Workers Prefer Dynamic and Efficient Office Space

As employers seek to define the workplace perks most likely to attract and retain employees, a recent Coldwell Banker Commercial Affiliates survey found that the physical office itself could keep staff happier.

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