Thursday, March 31, 2016

Sequoia Realty Market Update - April 2016

April 2016 Sequoia Market Update

Contents of this Newsletter

Market Trend - Industrial Sales in Lake County, OH
            a Letter from Rick Ferris

REDUCED Properties at Sequoia Realty Corp. 
               - 36250-36300 Lakeland Blvd., Eastlake, OH - Investment - 2 Industrial Buildings
                         For Sale @ $975,000!
REDUCED to $935,000!!!


Recently SOLD by Sequoia Realty Corp.
               - 9395 Pinecone Dr., Mentor, OH - Industrial Land - 1.52 Acres
                          SOLD for $58,250!

Recently LEASED by Sequoia Realty Corp.
               - 29933 Euclid Ave., Wickliffe, OH
                         LEASED  2,739 Sq.Ft. Retail


April 2016 Sequoia Market Update


Market Trend - Industrial Sales in Lake County, OH
Dear Friend,

Just take a quick look at the 2 graphs below.  What jumps out?  The rapid rise in Lake County Industrial Sale Prices!

More than 50% for owner-occupied properties in just over a year!!

And more than 30% for industrial investment buildings in the same period!

Wow, that is HUGE!

What's driving the price increases?  Scarcity of supply.  Take a peek at the 3rd graph.  Vacancy less than 3%!!!  At that vacancy rate is is very difficult for a buyer to find what they want in the market (at any price).

Compare these prices--$53 & $36/SqFt--to new construction and you see what a value they are.  I have heard new construction quoted at $65-$70/SqFt (when land is included) for basic industrial buildings.

So I predict that industrial prices will continue to rise until they come closer to new construction prices.

Now would be a good time to buy with prices still reasonable and interest rates incredibly low!

I'd love to help 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


 Lake County, OH - Industrial Sale Analytics (below)
Lake County - Industrial.png
Graph created with CoStar analytics.


Lake County, OH - Investment - Industrial Sale Analytics (below)
Lake County - Industrial Investment.png
 Graph created with CoStar analytics.


Lake County, OH - Industrial Availability & Vacancy Report (below)
Graph created with CoStar analytics.


REDUCED Properties at Sequoia Realty Corp.

36250 - 36300 Lakeland Blvd.jpg

36250-36300 Lakeland Blvd., Eastlake, OH
Industrial Investment - 2 Industrial Buildings!
 14 Units Total
 Long-term Tenants and Excellent Rental History
 
For Sale @ $975,000 REDUCED to $935,000!!!








Recently SOLD by Sequoia
Realty Corp.
 
Pinecone Lots 03_2016.jpg9395 Pinecone Dr., Mentor, OH
Industrial Land - 1.52 Acres
   - SOLD for $58,250
STILL AVAILABLE: 1.4 - 2.94 Acres






Recently LEASED by Sequoia Realty Corp.

29933 Euclid Ave.JPG29933 Euclid Ave., Wickliffe, OH
2,739 Sq. Ft. - Retail Space

   - LEASED
ONE UNIT LEFT! - 1,403 Sq. Ft. Retail/Office





7533 Tyler Blvd.JPG7533 Tyler Blvd., Unit C, Mentor, OH

1,122 Sq. Ft. - Office
- LEASED
STILL AVAILABLE! - 1,650 Sq. Ft. Industrial
     & 5,000 Sq. Ft. Office (Divisible to 2,500 Sq. Ft. )





6476 York Rd.JPG
6476 York Rd., Parma Hts., OH

Drug Mart Plaza

2,200 Sq. Ft. - Retail
 - LEASED!

Plaza 100% Occupied!





29047 Lorain Rd..jpg
29047 Lorain Rd., North Olmsted, OH
Lorain Crocker Plaza
2,400 Sq. Ft. - Retail
   - LEASED!
1,200 - 7,150 Sq. Ft. - Still Available!





1155 E. Wyandot.jpg
1155 E. Wyandot Ave. Upper Sandusky, OH

Drug Mart Plaza
 1,400 Sq. Ft. - Retail Space
 -LEASED!


ONE UNIT LEFT! 1,400 Sq. Ft.


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