A 1031 exchange is a real estate investment tool that allows investors to exchange an investment property for another “like-kind” property while deferring capital gains tax on the profit from the sale. As a commercial real estate investor, you’re probably familiar with the concept of a 1031 exchange, but do you fully understand how this tax benefit can be utilized as a tool to achieve other goals? In this article, learn more about the many strategies that leverage this powerful tool. Build a Portfolio/Leverage Up With a 1031 exchange, investors can continually reinvest the net proceeds from th ..read more

March was another active month for our brokerage, which included several notable deals. Overall, we closed 18 transactions equating to nearly 200,000 square feet. Mike Simpson closed the highest-value transaction of the month. He partnered with Skip Weiler of Robert Weiler Co. to represent Capital University in the sale of Trinity Lutheran Seminary Apartments to Continental Real Estate Cos. The developer plans to transform the property by building a $77 million mixed-use development at 2160-2184 E. Main St. in Bexley. Simpson also worked with Andrew Green to sell 741 E. Broad St., the highest ..read more

A nearly 200-year-old manufacturing campus in Knox County is once again coming to life five years after the announcement that one of the area’s largest employers, Siemens Energy, would cease operations there. The 47-acre property which includes 12 buildings totaling 670,000 square feet was acquired by the Knox County Land Reutilization Corporation, also known as the Knox County Land Bank, in 2020 after Siemens decided it no longer wanted to retain the property following the closure. The property has housed power generation systems manufacturers, from steam engines to jet engines to genera ..read more

The pace for February remained constant with our brokerage closing 18 transactions equating to more than 136,000 square feet. Joe Menninger represented the buyer in our largest transaction of the month. His client, an investor, purchased an industrial warehouse at 2580 Harrison Road with tenant, Synagro, in place. Overall, roughly 30% of the month’s transactions were industrial. The Office Brokerage Group of Matt Gregory, Andy Dutcher and Philip Bird represented Healthcare Realty Trust in adding a new tenant, Hypertension Nephrology Consultants, Inc., to the medical office building at 500 E. M ..read more

If you’ve been using the same vendor for years without bidding out the service contract, you could be doing yourself a disservice. As a property management company, bidding out service contracts for our clients is a valuable tool that creates a balance between maintaining quality service and optimizing costs. In this blog post, we delve into the benefits of bidding out service contracts, including which services to start with and the frequency. Reasons for Periodically Bidding Out Service Contracts Cost Savings Regularly bidding out service contracts ensures you receive the most competitive pr ..read more

The $1.78 billion verdict in October against the National Association of REALTORS® has sent shockwaves across the residential real estate industry. The ruling in the case of Sitzer/Burnett v. The National Association of Realtors et al, including Compass Inc., EXP World Holdings Inc., Redfin Corp., Weichert Realtors, United Real Estate, Howard Hanna Real Estate Services, and Douglas Elliman Inc., claimed that the NARs “participation rule” and “cooperative compensation” practices forced home sellers to pay inflated commissions to buyer agents. Within hours of the verdict, the plaintiff attorneys ..read more

We are pleased to announce the promotions of Dave Wakeman and Devon Cotterman, who each have new roles as Vice President of Property Management for NAI Ohio Equities. “Dave and Devon have long-tenured careers here at the company and have established a standard of excellence for the properties they serve. It was imperative to look at our talented group of people and to promote from within our organization,” said President Mike Simpson. “We looked closely at our future goals and determined that it made a lot of sense for us to structure our leadership in a way that supports employee development ..read more

The pace of transactions for December remained constant as the year came to an end. Overall, our brokerage closed 20 transactions equating to more than 112,000 square feet. The largest transaction of the month was the sale of 33 N. Grubb Street by the Office Brokerage Group of Matt Gregory, Andy Dutcher, and Philip Bird along with Mitchell Moore. The 25,610-square-foot building which was the headquarters of the nonprofit, Home for Families, was purchased by The Lincoln Center for Family and Youth. Home for Families will continue to operate its Dowd Center for Virtual Learning from the location ..read more

One of the most common questions asked by office tenants during the leasing process is how to proceed with evaluating the costs associated with tenant improvements and how that expense factors into their negotiation and decision-making process. After all, you can’t be entirely clear on the cost of the lease without understanding the expense associated with any improvements that will be needed. With proper planning, strong representation, experienced contractors, and some insight, you can manage this process in a way that is effective and results in a clear understanding of your costs! Step 1 ..read more

While volume remained steady with 17 closed transactions for October equating to more than 420,000 square feet, we had an exceptional month in terms of the size and significance of the transactions that were closed. The Sheeran-Semon Team of Dan Sheeran Sr., Dan Sheeran Jr., and Mike Semon had both of the largest transactions of the month with a lease signed by TP Mechanical Contractors at 1675 Watkins Road. TP Mechanical will use the 290,573-square-foot space for fabrication and distribution. Reading Rock signed a lease at 2646 Morse Road. Cincinnati-based Reading Rock will use the 11,668-squ ..read more