First Place Commercial Realty LLC

First Place Commercial Realty LLC Our office located in Cleveland, Ohio is a full-service commercial and investment real estate firm.

DRASTIC PRICE REDUCTION - For Sale in Holmes County ( Amish Country) which attracts over 3 million visitors annually; 15...
10/11/2021

DRASTIC PRICE REDUCTION - For Sale in Holmes County ( Amish Country) which attracts over 3 million visitors annually; 15,000 sq. ft. unique property and setting; anchored by prominent occupant. Consists of a unique 15,076 square foot mixed-use building and parking lot on 2 acres. The well-known retailer will lease back approximately 6,000 sq. ft. of first-floor retail space. View Property at https://vicvoinovich.com/properties/?propertyId=42436-sale

Dear Colleague,This market report will summarize some topics of interest to investors and commercial real estate practit...
09/08/2021

Dear Colleague,
This market report will summarize some topics of interest to investors and commercial real estate practitioners.
Special Note: At the end of this report are the website sources from which this data comes enabling you to take a deeper dive into any of the subjects covered.

I welcome any questions, comments, and/ or suggestions.
Sincerely,
Vic Voinovich

View Economic Update: https://f.hubspotusercontent30.net/hubfs/341133/Economic%20Update_9.3.21-1.pdf?utm_campaign=2021%20SVN%20Research&utm_medium=email&_hsmi=155230001&_hsenc=p2ANqtz-9RJBC0Y_p6yFslCuydrh3C4Q5A85IRanMx7STJdmGEz6Vdp4UNi9NasmQyMrRf7hFOQORRx8pabz18JCLeChA81V3FXw&utm_content=155230001&utm_source=hs_email

Dear Colleague,This market report is one that you will want to read as it summarizes the various issues affecting commer...
08/23/2021

Dear Colleague,
This market report is one that you will want to read as it summarizes the various issues affecting commercial real estate, especially the breath-taking cap rate compression across the property types. While these average cap rates do not reflect what is happening in the geographic segments of the U.S., they do show why cap rates are so much higher than they were last year. Also included are some interesting demographic insights as well as what the current trends are relative to working remotely.
Special Note: At the end of this report are the website sources from which this data comes enabling you to take a deeper dive into any of the subjects covered.

I welcome any questions, comments, and/ or suggestions.
Sincerely,
Vic Voinovich

Download the new Economic Update: https://lnkd.in/d-mNJvu7

GREATER CLEVELANDLinkedIn study looked at members who changed location on profileThe Cleveland region saw one of the big...
03/22/2021

GREATER CLEVELAND

LinkedIn study looked at members who changed location on profile

The Cleveland region saw one of the biggest gains in net new residents during the pandemic, according to a new study, adding more proof that the virus is altering migration patterns.

The study, by professional-networking website LinkedIn, looked at members who changed the location on their LinkedIn profile between April 2020 and February 2021. Researchers then calculated an inflow-outflow ratio for 38 major U.S. metro areas.

Cleveland ranked fifth, with a 6% growth in members who listed the city as their location. The four cities that did better: Salt Lake City; Jacksonville, Florida; Richmond, Virginia; and Sacramento, California.

Ashley Basile Oeken, the president of Engage! Cleveland, was thrilled with the news. Her organization launched a campaign last year, in the middle of the pandemic, to draw young professionals to Cleveland, promoting its affordability, cultural attractions and accessible public spaces.

Engage! Cleveland recently expanded the campaign, targeting young professionals in four more cities — Washington, D.C., Atlanta, Los Angeles and Detroit, in addition to Columbus, Cincinnati, Pittsburgh, Chicago and New York.

The campaign is attempting to take advantage of an emerging trend amid the pandemic: that residents of congested, expensive cities are looking for alternative places to establish roots. Cleveland fits all the boxes of what many mobile young professionals are looking for, she said. ''People are looking for space, indoor and outdoor, nature, hiking trails, a low cost of living,'' she said. ''All of that really gives us a great stepping stone to attracting these folks.''

The LinkedIn study comes on the heels of a recent survey from U-Haul, which found that Ohio ranked fourth in one-way trucks crossing into the state, another early metric of population gain. Only Tennessee, Texas and Florida registered more incoming one-way rentals in 2020, according to U-Haul.

POPULATION

George Anders, who wrote about the study for LinkedIn, noted that the cities with the biggest gains shared some traits: manageable housing prices, overall affordability and spacious geography. ''That sense of space became a huge asset in 2020, making it possible to get out and about even with all the health-related restrictions brought on by the pandemic,'' he writes.

Not unexpectedly, he notes, several cities in the Sun Belt made the list of biggest gainers, including Jacksonville, Tampa (No. 6) and Miami-Fort Lauderdale (No. 9).

More surprising, perhaps: Several Midwest cities also made the list, including Cleveland, Milwaukee (No. 7) and Kansas City (No. 8).

Writes Anders: ''Some heartland cities, such as Cleveland, Milwaukee and Kansas City, aren't yet migration magnets, but the movement of people in and out of these cities in the past year has been much more favorable than in prior years.''

As for the biggest net losers in residents, according to LinkedIn: Chicago; Washington, D.C.; Boston; Los Angeles; San Francisco; and New York.

The LinkedIn study comes as Ohio lawmakers consider a proposal from Gov. Mike DeWine to spend $50 million for a marketing campaign to pitch the state to prospective new residents. The campaign is part of a $1 billion plan to help the state recover from the coronavirus pandemic.

Oeken, with Engage! Cleveland, said that even though the pandemic may be waning, the migration patterns that it yielded will likely be around for years to come. She said her organization plans to continue to pitch the city to young professionals across the country into the foreseeable future.

''Moving forward, companies will have to look at balancing the needs of the company with the needs of their workforce,'' she said. ''I don't think this is going to go away any time soon.''

Strategically Located and Accessible Corp HQ Between N.Y. & Chicago w/ Over 40,000 Sq.Ft. of 26' Ceiling Dist/Mfg Space ...
10/26/2020

Strategically Located and Accessible Corp HQ Between N.Y. & Chicago w/ Over 40,000 Sq.Ft. of 26' Ceiling Dist/Mfg Space for Sale or Lease | 7 Years Young | Motivated Seller/Landlord. Rare owner/user opportunity to purchase or lease a 53,300 SF state of the art modern building, offering a beautiful showroom and manufacturing or warehouse space. Property Website: https://svnthreerivers.com/properties/?propertyId=2074LeesburgGroveCityRd

Land For Sale - Corner of State Route 3 and Wedgewood Road (Commercial) Medina (Montville), OH 44256Land available for m...
04/16/2020

Land For Sale - Corner of State Route 3 and Wedgewood Road (Commercial) Medina (Montville), OH 44256

Land available for master development plan that includes; Commercial, Cluster Homes, Assisted Living, and Single Family options. 77.17 Acre Comprehensive Planned for medium high density residential. One of the fastest growing areas in Northeast Ohio. 40 minute drive to the City of Cleveland and 30 minutes to the City of Akron. Approximately 18.8 acres available for commercial development on the corner of State Route 3 and Wedgewood Road. Utilities, including water are available at the site. Sewer available.
Property Website: https://vicvoinovich.com/properties/?propertyId=270044-sale
View the property at: https://youtu.be/3dfkobUMJpQ

03/12/2020

Remote work!!!!

Sounds good in this world where remote work is facilitated by enhanced technologies. What about those employees who are not used to working this way? There is online training available for organizations that want to "PROMOTE REMOTE" during these unpredictable Coronavirus times. I have a relationship with a company that has been promoting remote work for 25 years and can provide instant access to their on-line training modules. The training includes important protocols and templates to organize.

For Sale or Lease: Ideal for Testing and Sale of CBD Oils.  Fully Equipped Laboratory for Research, Development and Test...
03/11/2020

For Sale or Lease: Ideal for Testing and Sale of CBD Oils. Fully Equipped Laboratory for Research, Development and Testing. Fully Equipped Wet Lab in quiet Business Park setting; close to interstates. 12,500 sq. ft. with 15% office; can be expanded; on two acres.
View website: https://vicvoinovich.com/properties/?propertyId=365931-sale

Address

Cleveland, OH

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