Properties Magazine January 2013 : Page 16

2012 FINANCIAL REVIEW & FORECAST 2013 Look Back, Look Forward CBRE offers an overview of Northeast Ohio commercial real estate 2012/2013 Story & images provided by CBRE W e at CBRE are pleased to present a review of 2012 and a preview of commercial real estate activity for 2013 in Northeast Ohio. The market clearly improved during the past year across all property types. The impact of this varied depending upon the underlying supply-demand scenario. We are pleased to report that down-town Cleveland seems to really be on a roll. The combination of public and private investment, along with a gener-ational preference for urban mixed-use environments, is creating a demand for downtown living and office space. Although the global economy and U.S. tax policy are creating challenges, we see good things ahead for Northeast Ohio in 2013. is your ad proof is is your ad proof This your ad proof heck it for accuracy and content. is ad proof This is your ad proof lease check it for accuracy and content. heck it for your accuracy and content. This is your ad proof check for accuracy and content. Please it check it for accuracy and content. Please check it for accuracy and content. slow but steady, and parties are still will-ing to provide meaningful concessions in order to secure business with credit OFFICE INDUSTRIAL RETAIL tenants. Large block Class A space remains difficult to assemble with only VACANCY a handful of suburban opportunities to INVENTORY the east. Highlighted by a number of size-ACTIVITY able relocations from the suburbs, Cleveland’s CBD may have shined the QUOTED brightest in 2012, as overall vacancy LEASE RATES dropped for the fourth straight quarter Serving the design & construction community NEGOTIATED Northeast Ohio Office Market to 18.6%. BrandMuscle, Dwellworks LEASE RATES By Steve Voinovich and Britton Gallagher are just three Serving the design & community Serving the design & construction construction community g this proof, you are approving the content for placement in PRICES Sabre Publishing, Group Inc., publications (BXM, Ohio A&E SALES Senior Associate examples of in-migration, represent-only. The payment you have agreed to is for “space only”. — Thank you for choosing Sabre Publishing Group to promote your ing a total of nearly 100,000 square vices! By proof, you are approving the content for placement in Sabre Publishing, Group Inc., publications (BXM, (BXM, Ohio ng approving this proof, this you are approving the for placement in Sabre Publishing, Group Inc., publications Ohio A&E A&E INVESTMENT T content he 2012 feet. Additionally, Alexander Mann Serving the design & the construction community Serving design & construction community Thank you for choosing Sabre Publishing Group to promote your or only. InScope) only. The payment you have agreed to is for “space only”. — The payment you have agreed to is for “space only”. — Thank you for choosing Sabre Publishing Group to promote your Serving the design a & construction community Northeast Ohio Solutions, London-based recruitment SALES roducts & services! ACTIVITY vices! Office leasing PRICES firm, selected Downtown Cleveland for ving By this proof, you are approving content for placement in Sabre in Publishing, Group Inc., publications (BXM, (BXM, Ohio A&E approving this proof, you are the approving the content for placement Sabre Publishing, Group Inc., publications Ohio A&E market continued Company name: Frantz Ward its U.S. hub and is projected to employ Source: CBREs By approving this proof, you are approving the content for placement in Sabre Publishing, Group Inc., publications (BXM, Ohio A&E pe) only. The payment you have agreed to is for “space only”. — Thank you for choosing Sabre Publishing Group to promote your or InScope) only. The payment you have agreed to is for “space only”. — Thank you for choosing Sabre Publishing Group to promote your or InScope) only. The payment to you have upon agreed to is for “space only”. — Thank you for choosing Sabre Publishing Group to promote your build the over 300 within three years. Jones Day, services! products & services! Issue: name: Frantz 12X Ward a year Company products & services! grow when year-end statistics are finalized. previous year’s GMAC, Oswald, Grant Thornton Company name: Frantz Ward and N/A Section: momentum with While we noticed a minimal increase in Willis also solidified their CBD 12X a year presence Issue: Issue: 12X a year most submarkets overall asking rental rates, actual “taking” by making long-term commitments. Chelsea Morris Sales rep: Section: N/A Company name: Frantz Ward Company name: Frantz Ward Section: Company downtown name: N/A Frantz Ward experiencing a rates vary from deal to deal and are often The thriving residential Chelsea Morris Sales rep: 12X a year Issue: Issue: 12X a a year year steady increase in activity. At the end a reflection of the financial strength of market has triggered several office Issue: 12X Serving the design & construction Sales rep: community Chelsea Morris to both landlords and tenants as opposed to of the 3rd quarter, year-to-date positive residential or Section: hotel conversions, Section: N/A N/A some Please check it for accuracy and content. Section: Serving the design & construction community N/A By approving this proof, reached you are approving the content square for placement in Sabre Publishing, Group Inc., (BXM, Ohio a measure of publications the market in A&E general. This of absorption 400,000 feet, which are underway (Hanna Annex) Serving the design & construction community or InScope) only. The payment you have agreed to is for “space only”. — Thank you for choosing Sabre Publishing Group to promote your Sales Chelsea Morris Sales rep: rep: Chelsea Morris Sales rep: Chelsea Morris products & services! with the CBD accounting for nearly half inconsistency in pricing only underscores with more planned (East Ohio, which sentiment that Horizontal the recovery has been was just awarded Ohio tax credits). The of that amount. We expect this number to the 1/3 Page 2013 Northeast Ohio OUTLOOK This is your ad proof 1/3 Page Horizontal 1/3 Page Page Horizontal Horizontal 1/3 1/3 Page Horizontal 1/3 Page Horizontal 1/3 Page Horizontal Serving the design & construction community Company name: Issue: Section: Frantz Ward 12X a year N/A Serving design & construction Serving the design & construction community community Serving the design & the construction community Result-Oriented and Reliable Legal Assistance for the Construction Industry Result-Oriented and • Competitive Reliable Legal Assistance for the Construction Industry Claims Management a nd Avoidance Bidding • Schedule Disputes Result-Oriented and Reliable Legal Assistance the Disputes Construction Industry Claims Management a nd Avoidance • Competitive Bidding • for Schedule Defective Work and Design Claims • Project Delivery and Conceptualization • Mechanic’s Liens Defective Work and Design • Claims Project Bidding Delivery Conceptualization • Mechanic’s Liens Industry Claims Management a nd Avoidance Competitive • and Schedule Disputes Result-Oriented and • Reliable Reliable Legal Assistance for the Construction Result-Oriented and Legal Assistance for the Construction Industry Surety Bond Surety Claims • Labor and Employment • Arbitration and Mediation • Litigation Result-Oriented and Reliable Legal Assistance for the Construction Industry Bond Claims • Labor and • Arbitration and Mediation • Litigation Defective Work and Design Claims • Project Delivery and Conceptualization • Mechanic’s Claims Management a nd Employment Avoidance • Competitive Bidding • Schedule Disputes Liens Sales rep: Chelsea Morris Serving the design & construction community Result-Oriented and Reliable Legal Assistance for the Construction Claims Management a nd Avoidance • Competitive Bidding Industry • Disputes Schedule Disputes Claims Management a nd Work Avoidance • • Competitive Competitive Bidding • Mediation Schedule Defective and Design Claims • Project Delivery and Conceptualization Liens Surety Bond Claims • Labor and Employment • Arbitration and • Litigation • Mechanic’s Claims Management a nd Avoidance Bidding • Schedule Disputes Defective Work and Design Claims • Project Delivery and Conceptualization • Mechanic’s Liens Defective Work and Claims Design Claims • Project Project Delivery and Conceptualization • Mechanic’s Liens Defective Work Surety and Design • Delivery and Conceptualization • Mechanic’s Liens Bond Claims • Labor and Employment • Arbitration and Mediation • Litigation OUR BUSINESS IS HELPING OUR BUSINESS IS HELPING Surety Bond Claims • Labor and Employment • Arbitration and Mediation • Litigation OUR BUSINESS IS HELPING Surety • Bond Claims • • Labor and Employment • and Arbitration and Mediation • Litigation YOUR BUSINESS SUCCEED. YOUR BUSINESS SUCCEED. Contact: Ian H. Frank Surety Bond Claims Labor and Employment • Arbitration Mediation • Litigation YOUR BUSINESS SUCCEED. 16 Approved by: 216.515.1660 -FAX 216.515.1650 | www.frantzward.com 216.515.1660 -FAX 216.515.1650 | www.frantzward.com 127 Public Square | 2500 Key Center | Cleveland, Ohio 44114-1230 127 Public 216.515.1660 Square | 2500 | Cleveland, Ohio 44114-1230 -Key FAX Center 216.515.1650 | www.frantzward.com 216.515.1660 -FAX 216.515.1650 | www.frantzward.com __________________________________________________ Date: __________ • Contact: Ian H. Frank • Contact: Ian H. | Frank • Contact: Ian H. Frank 127 Public Square 2500 Key Center | Cleveland, Ohio 44114-1230 • Contact: Ian H. Frank 216.515.1660 -FAX 216.515.1650 | www.frantzward.com • Contact: Ian H. Frank 127 Public Square | 2500 Center | Cleveland, Ohio 44114-1230 • Contact: Ian H. Key Frank SUCCEED.s 127 Public Square | 2500 Key Center | Cleveland, Ohio 44114-1230 216.515.1660 -FAX 216.515.1650 | www.frantzward.com 127 Public Square | 2500 Key Center | Cleveland, Ohio 44114-1230 216.515.1660 -FAX 216.515.1650 | www.frantzward.com 127 Public Square | 2500 Key Center | Cleveland, Ohio 44114-1230 OUR BUSINESS IS HELPING OUR BUSINESS IS HELPING OUR BUSINESS IS HELPING OUR BUSINESS IS IS HELPING OUR BUSINESS HELPING OUR BUSINESS IS HELPING YOUR BUSINESS SUCCEED. YOUR BUSINESS YOUR BUSINESS SUCCEED. YOUR BUSINESS SUCCEED. YOUR BUSINESS SUCCEED. OUR BUSINESS IS HELPING OUR BUSINESS IS HELPING YOUR BUSINESS SUCCEED. OUR BUSINESS IS HELPING OUR BUSINESS IS HELPING YOUR BUSINESS SUCCEED. OUR BUSINESS BUSINESS IS HELPING YOUR SUCCEED. OUR BUSINESS HELPING OUR BUSINESS IS HELPING YOUR BUSINESS SUCCEED. OUR BUSINESS IS HELPING OUR BUSINESS IS HELPING YOUR BUSINESS SUCCEED. YOUR BUSINESS OUR BUSINESS IS HELPING OUR BUSINESS IS HELPING YOUR BUSINESS SUCCEED. YOUR BUSINESS SUCCEED. OUR BUSINESS IS HELPING YOUR BUSINESS SUCCEED. YOUR YOUR BUSINESS SUCCEED. BUSINESS SUCCEED. YOUR BUSINESS SUCCEED. YOUR BUSINESS SUCCEED. SUCCEED.s Properties | January 2013

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