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.
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.
SOLD for $58,250!
Recently LEASED by Sequoia Realty Corp.
- 29933 Euclid Ave., Wickliffe, OH
LEASED 2,739 Sq.Ft. Retail
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.
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.comweb: www.SequoiaRealty.com
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.comweb: www.SequoiaRealty.com
Lake County, OH - Industrial Sale Analytics (below)
Graph created with CoStar analytics.
Lake County, OH - Investment - Industrial Sale Analytics (below)
Graph created with CoStar analytics.
Lake County, OH - Industrial Availability & Vacancy Report (below)
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., 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!!!
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.
9395 Pinecone Dr., Mentor, OHIndustrial Land - 1.52 Acres- SOLD for $58,250
STILL AVAILABLE: 1.4 - 2.94 Acres
Recently LEASED by Sequoia Realty Corp.
29933 Euclid Ave., Wickliffe, OH 2,739 Sq. Ft. - Retail Space - LEASED
ONE UNIT LEFT! - 1,403 Sq. Ft. Retail/Office
7533 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., Parma Hts., OH
Drug Mart Plaza
2,200 Sq. Ft. - Retail
- LEASED!
Plaza 100% Occupied!
7533 Tyler Blvd., Unit C, Mentor, OH1,122 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., Parma Hts., OH
Drug Mart Plaza
2,200 Sq. Ft. - Retail
- LEASED!
Plaza 100% Occupied!
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 Ave. Upper Sandusky, OH
Drug Mart Plaza
1,400 Sq. Ft. - Retail Space
-LEASED!
ONE UNIT LEFT! 1,400 Sq. Ft.
-LEASED!
ONE UNIT LEFT! 1,400 Sq. Ft.
