Thursday, January 12, 2017

Sequoia Realty Market Update - January 2017

January 2017 Sequoia Market Update

Contents of this Newsletter

Sequoia Realty Corp. Lists Willoughby's Historic US Bank Building
New on the Market at Sequoia Realty Corp.
               - 28833 Euclid Ave., Wickliffe, OH
                  8,856 Sq. Ft. - Office/Retail for Sale

Recently SOLD by Sequoia Realty Corp.
               - S/L 15 Twinbrook Rd., Mentor, OH
                          3.5 Acre Industrial Lot
                          SOLD for $135,000!

Recently LEASED by Sequoia Realty Corp.
               - 7855 Division Dr., Mentor, OH
                         LEASED  8,050 Sq. Ft. Industrial

January 2017 Sequoia Market Update
Sequoia Realty Corp. Lists Willoughby's Historic US Bank Building 

A 1960 episode of the Twilight Zone titled "A Stop At Willoughby" describes the town as a place filled with "sunlight and serenity." Jim Danford would agree with this cheery depiction of Willoughby. In 1983,  Danford and his brother Robert purchased the Historic US Bank Building in the heart of bustling downtown Willoughby.

Built in 1901, the building is currently fully leased with its 18 apartments, 4 storefronts that includes a restaurant, wine bar, jeweler and a bank, office space and ample parking. The US Bank Building, located at 4084-4098 Erie Street, is in the center of a vibrant community that boasts eclectic restaurants, bars, and shops, and hosts festivals, charity runs, and farmers markets throughout the year.

The building has been a "labor of love" according to Jim Danford who continued by saying, "I loved the property from the day I saw it. You can't just go out and find a property like this." Over the years, the Danford brothers have been committed to the upkeep and restoration of the building to maintain its historic charm.  The building is architecturally interesting with original claw foot bathtubs, glass cabinetry, milled woodwork, bay windows and old steam radiators in each apartment. When the building was originally built, a clock tower with beautiful ironwork stood prominently atop the building. Prior to the Danfords' purchase of the building, the clock tower was taken down rather than maintained. Today there's an effort led by the Historic Society of Willoughby to rebuild the clock tower to restore the building's original appearance and stature.

Despite their love of the building and its location,  after 37 years, the Danfords have decided it's time to sell the property and retire.  Upon this decision, the Danfords turned to Sequoia Realty Corp. who specializes in commercial real estate.  With the help of Sequoia Vice President Patrick Dowd, the property is now on the market for $2,600,000. Committed to finding the right buyer for this distinctive property,  Jim Danford noted that, "Sequoia offers excellent customer service, is quick to return phone calls and is really interested in getting to know the property."

As a great investment opportunity, the new owner of the US Bank Building would not only have a large, unique income producing property, but also own a piece of Willoughby history while investing in the future of the community.

The mixed use building is also zoned for a historic inn should a new owner care to pursue it. There is additional development opportunity in the large parking area in the back including the possibility of a much needed parking garage.

Interested parties should contact Patrick Dowd at Sequoia Realty.

C: 216.406.0476

New on the Market at Sequoia Realty Corp.

  28833 Euclid Ave., Wickliffe, OH
 8,856 Sq. Ft. - Office/Retail Plaza
 3 Units + Walkout Lower Level
 For Sale @ $159,000!
Great Value at $17.95/ Sq. Ft.

3961 Kirtland Rd., Willoughby, OH
 12,098 Sq. Ft. on 3.36 Acres
 Church or Redevelopment
 For Sale @ $599,000!



Recently SOLD by Sequoia Realty Corp.

  S/L 15 Twinbrook Rd., Mentor, OH

 3.5 Acres - Industrial Land
   - SOLD for $135,000!

 414 2nd St., Elyria, OH

 8,300 Sq. Ft. - Retail/Warehouse
   -SOLD for $100,000!


 224 River St., Fairport Harbor, OH
  0.40 Acres Commercial Land
   -SOLD for $52,900

  9375 Pinecone Dr., Mentor, OH

1.4 Acres - Industrial Land
   - SOLD for $44,000!


Recently LEASED by Sequoia Realty Corp.

7855 Division.jpg

7855 Division Dr., Mentor, OH
 8,050 Sq. Ft. - Industrial/Flex Building
 Including 2,000 Sq. Ft. Office

36445 Biltmore

  36445 Biltmore Place, Unit D
y, OH

Office/Warehouse Condo
1,200 Sq. Ft. - LEASED!



9613 Jackson.jpg

 9613 Jackson St., Mentor, OH
 8,000 Sq. Ft.  - 2 Story Office/Warehouse


  26485 Center Ridge Rd, Westlake, OH
  Westlake Commons Shopping Center

 2,000 Sq. Ft. - Retail
   - LEASED!

 1,700 - 1,750 Sq. Ft. - Front Units Still Available!