Wednesday, January 23, 2013

Northeast Ohio experiences commercial property sales spike | Zoliath

Northeast Ohio experienced improved commercial real estate sales last year.

Many property managers in Northeast Ohio likely experienced a boom in commercial real estate sales during 2012, as the figure hit its highest level in five years.

The?number?of sales rose more than 70 percent in the area last year, surpassing $700 million, according to Crain?s Cleveland Business. This was the highest level recorded since 2007, when the figure was $1.3 billion.

In 2011, the total sales figure was $405 million, the news source?said, citing a report from NAI Daus. This included all properties sold for $1 million or more. The last time the figure was so high after the economic downturn began was in 2008. That year, the figure reached $696 million.

?This is the new normal, I guess,? Alec Pacella, vice president of NAI Daus, told the news source. ?I don?t know if we will ever get back to the 2007 sales figures. It was so frothy it bordered on an unhealthy situation.?

The national commercial real estate market experienced improved sales in 2012, as well. During the third quarter of last year, the sales volume figure rose 6 percent year-over-year, according to the National Association of Realtors Q3 Commercial Real Estate Market Survey. This was also 4 percent higher than the second quarter?s figure.

Posted in Commercial Construction

Disclaimer: All data and information provided on this site is for informational purposes only. Zoliath.com makes no representations as to accuracy, completeness, correctness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, opinions or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis.

Source: http://www.zoliath.com/commercial-real-estate-blog/2013/01/22/northeast-ohio-experiences-commercial-property-sales-spike/

tax refund calculator huntington disease west memphis three taxes game of thrones season 2 trailer sag award winners girl scout cookies

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.