Sequoia Realty Corp.

Wednesday, July 9, 2014

July 2014 Sequoia Properties Update

Posted by Sequoia Realty Corp. on 10:23 AM

July 2014 Sequoia Properties Update

Contents of this Newsletter

Recent Deals by Sequoia Realty Corp.

- 345000 Euclid Ave., Willoughby, OH - 2,100 Sq. Ft. - LEASED

New on the Market at Sequoia Realty Corp.

- 7116 Industrial Park Blvd., Mentor, OH - 2,000 Sq. Ft. Industrial - For Sale @ $175,000

REDUCED PRICE! Properties at Sequoia Realty Corp.

- Newell St., Painesville, OH - 13+ Acres - Industrial Land - $149,000!!!

July 2014 Sequoia Properties Update

Recent Deals by Sequoia Realty Corp.

34500 Euclid Ave., Willoughby, OH
Crossroads Plaza
2,100 Sq.Ft. - 2 Retail Units
- FULLY LEASED PLAZA

9585 Mentor Ave., Mentor, OH
1,803 Sq.Ft. - Retail Unit
-SRC Worked w/ NEW TENANT

26471 Center Ridge Rd., Westlake, OH
4,800 Sq. Ft. - Retail Unit
-LEASE RENEWAL

7309 Mentor Ave., Mentor, OH
3,500 Sq.Ft. - Retail Unit
- LEASE RENEWAL

1155 E. Wyandot Ave., Upper Sandusky, OH1,360 Sq.Ft. - Retail Unit
- LEASE RENEWAL

New on Market at Sequoia Realty Corp.

NEW ON THE MARKET!

7116 Industrial Park Blvd., Mentor, OH

2,000 Sq. Ft. - Industrial Building
For Sale @ $175,000

NEW ON THE MARKET!

213 High St., Fairport Harbor, OH

2,073 Sq. Ft. - Retail Space
For Lease @ $950.00/month

NEW ON THE MARKET!

6988 Spinach Dr., Mentor, OH

900 Sq. Ft. - Office Condo
For Sale @ $95,000

NEW ON THE MARKET!

26429 Center Ridge Rd., Westlake, OH

1,700 Sq. Ft. - Retail Unit
Front Unit w/Maximum Exposure!
For Lease @ $15.00/Sq. Ft.

NEW ON THE MARKET!

28831 Euclid Ave., Wickliffe, OH

5,748 Sq. Ft. - Industrial/Automotive Building
For Sale @ $375,000

UPDATED OFFICE!

368 Blackbrook Rd., Painesville Twp., OH

(Right off Heisley Rd.)

2,129 Sq. Ft. - Office Space
New Carpet & Fresh Paint
For Lease @ $10.00/Sq. Ft.

REDUCED PRICE! Properties at Sequoia Realty Corp.

Newell St., Painesville, OH

13+ Acres - Industrial Vacant Land
For Sale @ $400,000

PRICE REDUCED to $149,000!!!

771 S. Broadway, Geneva, OH

1,000 Sq. Ft. Dave's Cosmic Sub - Restaurant Business for Sale @ $95,000

PRICE REDUCED to $65,000!!!

35860 Vine St., Eastlake, OH
0.30 Acre Commercial Lot
Zoned Retail Business
For Sale @ $150,000

PRICE REDUCED to $75,000!!!

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Lakeland Community College renews lease for Madison, Ohio satellite campus

Posted by Sequoia Realty Corp. on 10:53 AM

The mission of Lakeland Community College, based in Kirtland, Ohio, is to provide quality learning opportunities to meet the social and economic needs of the community. In order to best serve its population, Lakeland began building a presence in Madison, OH in 1994 and developed its campus there in 2004. The Madison location, known as Lakeland East, serves as many as 350 students each term.

The Lakeland East facility, located at 201 Water Tower Drive in Madison, OH, recently signed a lease for another 5 year term with an option to renew the lease for an additional 5 years.

Rick Ferris, President of Sequoia Realty Corp., represented Candace and Walter Shaw, landlords of the Lakeland East building. After selling the building to the Shaws in 2009, Ferris has represented them in the subsequent lease negotiations with Lakeland Community College. The Shaws, who own the property while living in California, feel confident having Ferris represent them in negotiations in their absence. Per Shaw, Ferris is “honest and professional and I trust him to handle our affairs.”

Not only did Ferris and Sequoia Realty Corp. represent the Shaws, but he also acted as the mediator during the 6 month negotiation process to help Lakeland and the Shaws come to an agreement on the terms of the most recent lease renewal.

According to Mike Mayher, Senior Vice President of Lakeland Community College, “I’ve worked with Rick and Sequoia on several occasions. He is hard working and provides outstanding service; he offers great integrity and transparency and is diligent and fair.”

Although Ferris was representing the landlord, he offered the same level of professionalism and respect to Mayher and Lakeland Community College to reach an agreement that serves the purposes of all involved.

Per Ferris, “although Sequoia’s services were employed to represent the building owners, I still like to take into consideration the needs of the lessee. Lakeland Community College strengthens eastern Lake County by maintaining a campus that is convenient and accessible to their population. Sequoia Realty is proud to play a role in this important community resource.”

Sequoia Realty Market Update - May 2014

Posted by Sequoia Realty Corp. on 11:18 AM

May 2014 Sequoia Market Update

Contents of this Newsletter

Personal Service with Strong Analytic Support - Rick Ferris

Recent Deals by Sequoia Realty Corp.

- 7575 Tyler Blvd, Mentor - 28,800 Sq.Ft. Small Business Park - SOLD

New on the Market at Sequoia Realty Corp.

- 203 High St., Faiport Harbor, OH - 3,947 Sq. Ft. Restaurant - For Sale @ $295,000

REDUCED PRICE! Properties at Sequoia Realty Corp.

- Newell St., Painesville, OH - 13+ Acres - Industrial Land - $160,000!!!

May 2014 Sequoia Market Update

Personal Service with Strong Analytic Support

Dear Friends,

At Sequoia we most value personal relationships. This has been the core of our business for decades. Nothing is as valuable as gaining the respect and confidence of our clients.

In support of that we also offer robust market analytics to aid in decision making. One of the most common questions that I hear is "What is this building worth?” As we all know from the past 10 year roller coaster, it’s a moving target.

Right now for example, in the Lake County industrial market, the vacancy rate is falling quickly and there is virtually no new construction in the pipeline. See the table below.

Rick's Graph for Letter.JPG

When the market vacancy in a certain property type falls below 7%, then buyers and tenants find it difficult to find a space that fits their needs. If they need to move, they may be forced to take a space that does not completely fit what is optimal for their business. Alternately, there is the option of building a new building. This option typically takes close to 12 months with the planning, design, approvals and construction required. Also, new construction is estimated at nearly a 40% price premium versus existing construction!

In addition, of course the lease and sale price on existing building inventory rise as vacancy falls. This price increase is generally triggered at about that same 7% market vacancy threshold.

From the figure above, you can see that this market is now at about 4.5% vacancy, and it is falling fast. The longer that relocation decisions are postponed, the less options will be available in the market and the more expensive those options will be.

Would this type of information help you in making critical real estate decisions?

If so, I am happy to share the analytical information that we have. We track the entire greater Cleveland marketplace--from Avon to Ashtabula, Medina to Akron--including industrial, office, retail, and investment properties.

Let me know how I can help you, or someone that you know, make an informed real estate decision. I look forward to working with you!

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.

7575 Tyler Blvd., Mentor, OH
28,800 Sq.Ft. - 3 Multi-Tenant Office Buildings
- SOLD

7338 Mentor Ave, Mentor, OH
1,050 Sq.Ft. - Retail/Restaurant
-LEASED

9952 Johnnycake Ridge Rd., Concord, OH
1,776 Sq. Ft. - Retail Unit
-LAST UNIT LEASED!

8334 Mentor Ave., Mentor, OH
707 Sq.Ft. - Office Unit - LEASED
-Additional Office Space Available - Contact us today!

201 Water Tower Dr. Madison, OH
9,100 Sq. Ft. Office/School Building
-LEASED

New on Market at Sequoia Realty Corp.

NEW ON THE MARKET!

203 High St., Fairport Harbor, OH

3,947 Sq. Ft. - Restaurant
For Sale @ $295,000
For Lease @ $1,100/mo. (NNN)

NEW ON THE MARKET!

23889 Lorain Rd., North Olmsted, OH

2,060 Sq. Ft. - Retail Building
For Sale @ $109,000

NEW ON THE MARKET!

771 S. Broadway, Geneva, OH

1,000 Sq. Ft. Dave's Cosmic Sub - Restaurant Business for Sale @ $95,000

NEW ON THE MARKET!

29374 Lorain Rd., North Olmsted, OH

3,868 Sq. Ft. - Retail/Auto Related For Sale @ $340,000
For Lease @ $3,400/mo

REDUCED PRICE! Properties at Sequoia Realty Corp.

Newell St., Painesville, OH

13+ Acres - Industrial Vacant Land
For Sale @ $400,000

PRICE REDUCED to $160,000!!!