In this issue of Sequoia Market Update:
* Sequoia Joins Social Media Phenomena!
* Recent Deals
* New on Market
* Real Estate Cyber Tips
* Current Commercial Market Trends
Sequoia Joins Social Media Phenomena!
Greetings Friends,
Social media is all the rage, and at Sequoia, we are joining in. No, we don’t necessarily need more websites to maintain and update, yet, it is an opportunity to reach out and let you know what is going on in the market. Best of all, you can pick the channels that you enjoy using to hear from us.
So here is the rundown:
Our primary website (soon to have a complete overhaul):
www.SequoiaRealty.com
Our Sequoia Facebook page:
http://www.facebook.com/SequoiaRealty . This is where we post news and events. Why not “Like” us?
My Facebook page:
facebook.com/Rick.Ferris.Realtor
. I would look forward to being “Friends”!
You can “Follow” us on Twitter as well:
http://twitter.com/sequoiarealtyoh
Check out our Blog at:
http://sequoiarealty.blogspot.com/
My Meetup.com group – Income Real Estate Investing – Cleveland East:
http://www.meetup.com/Income-Real-Estate-Investing-
Cleveland-East/
. This is where information on our Income Real Estate Investing – Study Group is located. We meet monthly on the 3
rd Tuesday evening. Check it out!
We also have a YouTube channel:
http://www.youtube.com/user/sequoiarealty
where we host videos about available properties and other topics of interest. You may want to “Subscribe.” We just started this.
It would be great to “Connect” with you on Linkedin. Find me under Rick Ferris at Sequoia Realty Corp.
http://www.linkedin.com/pub/rick-ferris/7/661/216
So that is what we have been busy with these last few months. Working on ways to communicate better, to keep you informed in a way that works best for you.
I would love to hear what you think. Just give me a call (440.946.8600x103) or send an email (
mailto:Rick@SequoiaRealty.com).
Happy and Prosperous New Year to you!!
Rick
Richard Ferris, CCIM, MBA
President
Sequoia Realty Corp.
7464 Mentor Ave.
Mentor, OH 44060 USA
voice: 440.946.8600 x103
fax: 440.953.4500
mailto:
Rick@SequoiaRealty.com
web:
www.SequoiaRealty.com
"Northeast Ohio's Entrepreneurial Broker"
Call us now to auction your property!
P.S. Who do you know that has commercial property to sell? We’d love to help!
RecentDeals
Leased/Property Address Sq. Ft. Type Sold
7757 Auburn Rd., Concord 2,500
Office Leased
7757 Auburn Rd., Concord
2,000
Office Leased
9609 Jackson St., Mentor
4,802
Office Leased
29170 Euclid Ave., Wickliffe
1,400
Retail Leased
29047 Lorain Rd., N. Olmsted
1,200
Office Leased
26485 Center Ridge Rd., Westlake 2,000
Retail Leased
7230 Mentor Ave., Mentor
7,365
Retail Sold
7289 Mentor Ave., Mentor
6,000
Retail Leased
33999 Vokes Dr., Eastlake
25,400 Industrial Sold
3420 Clark Rd., Perry Twp.
8,000
Industrial Sold
For more information on any of these Recent Deals, please contact Rick Ferris directly at440.946.8600 x103 or
Rick@SequoiaRealty.com.
New on Market
Lease/ Property Address Description Sq. Ft. Type Sale Price
30 S. Park Pl. Great Location! 1,174 Office Sub-Lease $12.00/Sq. Ft.
Painesville
307 Park Ave. 100% Leased! 11,744
Office/ Sale $450,000
Chardon
Industrial
1092 Lost Nation Rd. Excellent Price! 7,750 Retail
Lease $5.00/Sq. Ft.
Willoughby
Sale or $245,000
34580 Lake Shore Blvd. Amazing Price! 3,200
Retail Lease $6.00/Sq. Ft.
Eastlake
34508 Euclid Ave. Terrific Location! 6,100 Retail/ Lease $14.00/Sq. Ft.
Willoughby
Office
1180 High St. Sale or Lease 2,850
- Industrial Lease $4.60/Sq. Ft.
Fairport Harbor
Opportunity! 16,536
Sale
or Sale
6984 Spinach Dr. Lease/Option
900 Office Condo Lease/ $890/mo.
Mentor Possible!
Sale $89,900
For more information on any of these New on Mrket properties, please see
www.SequoiaRealty.com or contact Rick Ferris directly at 440.946.8600 x103 or
Rick@SequoiaRealty.com.
Real Estate Cyber Tips
- Cyber Tip #1 – Never Wait On Hold Again See: http://www.lucyphone.com/
- Cyber Tip #2 – Turn Plastic Into Cash See: http://www.plasticjungle.com/
- Great Place #1 – Do You Know What’s In Your Home? See: http://www.whatyouown.org/
- Great Place #2 – Don’t Ever Pay For A Conference Call See: http://www.freeconferencecall.com/prodfreeconferencecall.asp
Current Commercial Market Trends
Industrial for Lease: The average asking rental rate per sq ft/year for Industrial properties in Cleveland, OH as of Nov 10 was $3.43. This represents a decrease of -0.9% compared to the prior 3 months, with a decrease of -8.8% year-over-year. County-wide, average rental rates in Cleveland are -0.7% lower at $4.90 per sq ft/year for Industrial properties currently for lease.
Industrial for Sale: Current Cleveland market trends data indicates a decrease of -1.1% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -7.5% compared to last year's prices. County-wide, asking prices for Industrial properties are 1.3% higher at $34 per sq ft compared to the current median price of $27 per sq ft for Industrial properties in Cleveland, OH.
Office for Lease: The average asking rental rate per sq ft/year for Office properties in Cleveland, OH as of Nov 10 was $15.01. This represents a decrease of -1.1% compared to the prior 3 months, with a decrease of -7.3% year-over-year. County-wide, average rental rates in Cleveland are -0.7% lower at $15.32 per sq ft/year for Office properties currently for lease.
Office for Sale: Current Cleveland market trends data indicates a decrease of -1.3% in the median asking price per sq ft for Office properties compared to the prior 3 months, with a decrease of -8.3% compared to last year's prices. County-wide, asking prices for Office properties are -0.7% lower at $78 per sq ft compared to the current median price of $57 per sq ft for Office properties in Cleveland, OH.
Retail for Lease: The average asking rental rate per sq ft/year for Retail Commercial properties in Cleveland, OH as of Nov 10 was $12.07. This represents an increase of 0.9% compared to the prior 3 months, with an increase of +2.7% year-over-year. County-wide, average rental rates in Cleveland are +0.2% higher at $12.32 per sq ft/year for Retail Commercial properties currently for lease.
Retail for Sale: Current Cleveland market trends data indicates an increase of +10.4% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +10.0% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 7.3% higher at $87 per sq ft compared to the current median price of $71 per sq ft for Retail Commercial properties in Cleveland, OH.
Note: Information provided by LoopNet.
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