Sequoia Realty Market Update - December 2014

December 2014 Sequoia Market Update

Contents of this Newsletter

Lake County Retail and Industrial Markets- Rick Ferris

Recent Deals by Sequoia Realty Corp.
- 7116 Industrial Park Blvd., Mentor - 2,000 Sq.Ft. Industrial Building  - SOLD for $140,000
- 1701 Mentor Ave., Painesville Twp. - 8,718 Sq. Ft. Office Building - SOLD for $285,000

New on the Market at Sequoia Realty Corp. 

               - 201 Water Tower Dr., Madison - Institutional Investment - For Sale @ $1,495,000

REDUCED PRICE! Properties at Sequoia Realty Corp.

              - 33901 Chardon Rd., Willoughby - 1.75 Acres - Commercial Land - $499,000!!!

Fulfilling Real Estate Investment Goals

December 2014 Sequoia Market Update

Dear Friends,

Please take a moment to review the 2 graphs below.  There is a rock solid trend in Lake County Retail and Industrial real estate:  Vacancy is decreasing & rents are increasing!

So how does that effect you?

If you are a tenant or a buyer, now is the time to secure space for your future!  Don't wait.  With vacancy falling it is much more difficult to find just the right property for your business. Couple that with rising prices and leasing or buying sooner, rather than later, is important.

If you are a landlord or seller, then the market is looking up.  It may soon be time for concessions to be reduced, and someday soon, rents to increase further.  Of course, higher rents, mean higher property values.  So, good news for you!

Whether you are buying, selling or leasing, I am here to help you navigate the market as successfully as possible.  Just let me know how I can help!

Happy Holidays to you and yours,


Rick

PS. If you want to know "What is this building worth?”, just give me a call!

Richard Ferris, CCIM, MBA
President
440.946.8600 x103
Rick@SequoiaRealty.com

Recent Deals by Sequoia Realty Corp.

 7116 Industrial Park Blvd, Mentor, OH
 2,000 Sq.Ft. - Industrial Building
   - SOLD for $140,000!

 1701 Mentor Ave., Painesville Twp., OH
 8,718 Sq.Ft. - Multi-Tenant Office Building
   - SOLD for $285,000!

 S/L 51 Hamilton Rd., Mentor, OH 1.03 Acres - Vacant Industrial Land
- SOLD for $16,500!

 

 

 211 3rd St, Fairport Harbor, OH

 1,288 Sq. Ft. - Office Building
 PENDING SALE!

 368 Blackbrook Rd., OH
 1,050 Sq.Ft. - Retail/Restaurant
   -LEASED!

 7745 Mentor Ave, Mentor, OH
 1,320 Sq. Ft. - Retail Unit
   -LEASED!

New on Market at Sequoia Realty Corp.

NEW ON THE MARKET!

 201 Water Tower Dr., Madison, OH
Lakeland Community College, East Campus
 9,180 Sq. Ft.
Net Leased Institutional Investment
 For Sale @ $1,495,000

 NEW ON THE MARKET!

 7640 Mentor Ave., Mentor, OH

 5,000 Sq. Ft. (Divisible) - Retail
 For Lease @ $12.00 - $15.00/ Sq. Ft.

 NEW ON THE MARKET!

 7533 Tyler Blvd., Mentor, OH

1,200 - 8,500 Sq. Ft. - Industrial/Flex Available
 For Lease @ $4.50 - $10.50/ Sq. Ft. 
16,100 Sq. Ft. - 6 Unit Building
For Sale @ $995,000

  NEW ON THE MARKET!

 170 Main St., Painesville, OH

4,176 Sq. Ft.  - Office/Retail Available
For Lease @ Negotiable

12,000 Sq. Ft.  - Office/Retail Building
 For Sale @ $497,000





 NEW ON THE MARKET!

 207 3rd St., Fairport Harbor, OH

 Commercial Vacant Land - 42' Frontage x 66'
 For Sale @ $27,500

 NEW ON THE MARKET!

 368 Blackbrook Rd., Painesville Twp, OH

 6,223 Sq. Ft. - Investment Office Building
 For Sale @ $625,000

 NEW ON THE MARKET!

 8334 Mentor Ave., Mentor, OH

8,400 Sq. Ft. - Office Building for Owner/User
2nd Floor Available - 4,200 Sq. Ft.
 For Sale @ $600,000

NEW ON THE MARKET!

 Assisted Living Facility, Lake County, OH

6,796 +/- Sq. Ft. on 15.22 Acres
14 Private Bedrooms
Business & Real Estate For Sale @ $695,000

 

 NEW ON THE MARKET!

 Pizza Restaurant & Catering, Mentor, OH

1,800 Sq. Ft. Restaurant with Sit Down & Carry-Out
Includes Websites & Email Lists
 For Sale @ $95,000

REDUCED PRICE! Properties at Sequoia Realty Corp.

 33901 Chardon Rd., Willoughby, OH

1.75 Acres - Commercial Vacant Land
180' Frontage on Chardon Rd.
  For Sale @ $629,000

 PRICE REDUCED to $499,000!!!

Fulfilling Real Estate Investment Goals

If commercial real estate investment is something you’ve been considering as a part of your financial objectives, there are a few key factors to keep in mind for this type of investment. Start by defining your goals and establishing your budget. In the case of Randy Carver of Apptuation LLC, he knew what he was looking for, “a warehouse with some office space that was located close to Mentor at an excellent price.”  Carver needed a space with warehouse storage that he could use for his own purposes as well as offices that he could rent out for income. Carver had a maximum budget for this investment of $300,000.

Next, be sure to work with a reputable Realtor and develop a good working relationship. Based on previous successful transactions, Carver called Rick Ferris, President of Sequoia Realty Corp. in Mentor, to tell him what he was looking for.  Having worked with Carver in the past, Ferris said “I was able to anticipate the needs of a previous client and offer him a property that suited his business goals.” Ferris had a property in mind at 7116 Industrial Park Boulevard in Mentor in which he was representing the seller, R.L. Holliday Co. Inc.  

Before even officially listing the property at 7116 Industrial Park Boulevard, Ferris had it shown and sold in just two weeks time, and only a few additional weeks after that until the closing.  Per Carver, “Rick was willing to present any offer that I made and was very responsive.” This type of trusting relationship among all parties led to a quick transaction. In the end, R.L. Holliday Co. Inc. sold the property at 7116 Industrial Park Boulevard to Randy Carver of Apptuation LLC for $140,000. Ferris concluded, “developing good working relationships and knowing the goals of my clients helps to ensure a quicker process. It’s a winning situation for all.”