Cleveland, a city celebrated for its industrial roots and a dynamic music scene, is again making a quiet name for itself in the film industry. Adding to the excitement is the buzz around Superman: Legacy, rumored to be filming in Cleveland this summer. This holds special significance as Superman, a cultural icon, was created right here in Cleveland’s Glenville neighborhood by Jerry Siegel and Joe Shuster. Film productions get lots of attention when they take over Cleveland, but the Superman connection enhances the pride and heritage of something made in Cleveland. Since the introduction of the ..read more

The industrial property vacancy rate in Northeast Ohio at a historically low 2.5 percent. The cost of capital as well as a lack of new inventory coming online has made for a frustrating time for those needing new property to expand their business. Though Northeast Ohio is a market that typically gets a lot of building on spec, no new construction is popping up in the region. “Developers and landlords went through an extended period during which they couldn’t get materials — it was tough to get glass, tough to get electrical components,” says Eliot Kijewski, SIOR, a principal at Cushman & W ..read more

Ever feel like your office is on the front lines of a never-ending thermostat war? Some like it hot, some like it cold, but getting it “just right” seems like a re-write of Goldilocks at the office. At CRESCO, we’re not just bystanders; we’re in the trenches with you, navigating the quirks of various office climates. Let’s unravel this chilly mystery. New office buildings are like teenagers – they take a bit to find their groove. Office designs with their swanky glass walls and trendy open spaces, they look cool but can throw HVAC systems for a loop. The result? A temperature rollercoaster tha ..read more

The potential expansion of rail service through Cleveland is a development that’s not receiving its due recognition. Recently, four Ohio rail routes were chosen for passenger service expansion, with funding allocated for construction plans. This is a pivotal moment for our city. Currently, Cleveland’s passenger rail service is lackluster, offering limited, infrequent, and inconvenient east-west travel. But there’s a silver lining: expanding these services could revolutionize Amtrak in Cleveland, making it not only effective but also beneficial for the city. The key to success lies in ..read more

After nearly 20 years in the same spot, it was time for a fresh start. The way we engage with our clients and each other has changed. We have a heavy reliance on tech, while encouraging in person interaction (we’re in the office a lot). We knew moving would be a heavy lift. Whether office, industrial or retail, moving the business that so many rely on is a formidable undertaking. As real estate experts, we excel in finding the perfect location and space that works for our clients’ businesses. But the intricacies of packing and moving weren’t top of mind. It demands meticulous planning, the abi ..read more

The industrial real estate market is currently thriving and stands as one of the most robust sectors within the commercial real estate industry. “There is widespread demand and historically low vacancy across the country,” says Maureen Anter-Ressler, a Senior Associate at Cushman & Wakefield | CRESCO Real Estate. “And because of those two factors, both the rental rates and the purchase price of industrial property have climbed. That’s created a tight, challenging market for both tenants and buyers.” This trend of high demand and low vacancy rates is not exclusive to the broader market ..read more

At Cushman & Wakefield | CRESCO Real Estate, we strongly believe in practicing what we preach. That’s why opening a downtown office is a natural progression for us. Our new office in the renowned Halle Building on Euclid Avenue offers 5,000 square feet of prime, high-profile space, opening June 15th, 2023 The decision to choose the Halle Building was strategic, considering our key clients such as K&D Group and Playhouse Square are both prominent property owners downtown. Being in close proximity to Playhouse Square and Public Square ensures that we are conveniently positioned to serve ..read more

Co-working spaces are becoming increasingly popular as businesses large and small leverage the flexibility they provide. The arrangement allows organizations or individuals to lease either an individual office or workstation and share amenities such as conference rooms, lounge areas and more, splitting the costs with other tenants. It offers privacy for those looking to put their heads down and concentrate, opportunity to network with those sharing the space, as well as a professional space to connect with colleagues or host clients. That can be beneficial for startups looking to network and g ..read more

The Northeast Ohio industrial real estate market continues to tighten, with the vacancy rate at a historically low 3 percent. For tenants on a lease that need to stay in their current building or need to move because their requirements have changed, these conditions leave very few alternatives. “As recent as five years ago, when the vacancy rate was steady around 8 percent, tenants had options, which gave them some leverage,” says Joseph V. Barna, a principal at Cushman & Wakefield | CRESCO Real Estate. “Today, because of the tight real estate market, tenants are seeing significantly ..read more

Cleveland is a rising 18-hour city, and we have the potential to become one of the most vibrant and livable cities in the Midwest. To achieve this, we have to invest in education & jobs and overhaul our infrastructure to meet the needs of a new generation of city dwellers and employers. Those planning efforts are underway and those of us in real estate are wise to support these efforts. In an article from Fast Company, both Cleveland’s Mayor Bibb and Bedrock’s CEO Kofi Bonner highlighted the importance of building “15 minute neighborhoods” to easily navigate between work, home, activities ..read more