Our new website is up and running.  We have several informative articles and listings of real estate for sale and lease.  Check it out!

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Happy St. Patrick's Day

We want to wish all our fans a Happy St. Patrick’s Day!  Check out the link below for some fun St. Patricks’s Day facts:

St. Patrick’s Day is observed on March 17 because that is the feast day of St. Patrick, the patron saint of Ireland. It is believed that he died on March 17 in the year 461 AD. It is also a worldwide celebration of Irish culture and history. St. Patrick’s Day is a national holiday in Ireland, and a provincial holiday in the Canadian province of Newfoundland and Labrador.

The actual color of St. Patrick is blue. Green became associated with St. Patrick's Day during the 19th century. Green, in Irish legends, was worn by fairies and immortals, and also by people to encourage their crops to grow.

Fun Facts about St. Patrick's Day

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Daylight Savings Time Begins on March 13

 

Daylight savings time is coming up this weekend.  Don’t forget to set your clocks forward!

Every year, daylight savings time seems to take people by surprise. In the United States, daylight savings time begins on March 13 at 2 a.m. local time except in parts of Arizona and Hawaii. As the popular saying goes, clocks need to "spring forward" to observe the change. In other words, clocks need to be set ahead by one hour when the clock strikes 2 a.m.

Daylight Savings Time Begins on March 13 in the U.S. - Yahoo! News

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Happy President’s Day!

We want to wish everyone a Happy President’s Day.  Enjoy the day off for those of you lucky enough to get it.  Also, be sure to check out some interesting facts you may not already know about President’s Day at the link below:

The third Monday of February celebrates the birthdays of Abraham Lincoln (Feb. 12) and George Washington (Feb. 22). Most Americans refer to this day as President's Day.

Here are some interesting facts about the day and the two presidents it honors.

Presidents Day Fun Facts - Associated Content from Yahoo! - associatedcontent.com

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On the Mend

"This is good news for commercial real estate, showing a
recovery well under way" says Rick Ferris, President of Sequoia Realty.

The total return index for retail REITs stood at 584.29 at the end of 2010 and is up 169 percent since bottoming out at 216.82 in February 2009. However, the index remains 33 percent below its all-time peak of 878.58 reached in April 2007.

The retail REIT price index, meanwhile, has risen 150 percent since February 2009 from 81.14 to 202.94 and remains 44 percent below its all-time peak of 363.25 reached in February 2007. The dividend yield for retail REITs was 3.47 percent for the year.

On the Mend

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Check out our latest newsletter

Sequoia Realty Corp. "Northeast Ohio's Entrepreneurial Broker"

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 3rd 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 seewww.SequoiaRealty.com or contact Rick Ferris directly at 440.946.8600 x103 orRick@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. Sequoia Realty Corp. · “Northeast Ohio’s Entrepreneurial Broker” 7464 Mentor Avenue, Mentor, Ohio 44060 · 440.946.8600 · fax 440.953.4500 Visit us at www.SequoiaRealty.com  info@SequoiaRealty.com

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Northeast Ohio Commercial Realty Market Improving!

Great news for everyone in northeast Ohio!  The commercial realty market in northeast Ohio is definitely improving.

Continued difficulty securing loans makes the process of doing a real estate deal resemble feeding a fire in the rain, and sales still aren't close to what they were before the recession. Nonetheless, a just-completed survey of commercial real estate sales in Northeast Ohio of properties valued at more than $5 million shows their volume more than doubled last year to $253 million from $118 million in 2009

Read more: http://www.crainscleveland.com/article/20110124/SUB1/301249985

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