Commercial Real Estate in Cleveland
Cleveland is a city in the U.S. state of Ohio and is the county seat of Cuyahoga County, the most populous county in the state. The city is located in northeastern Ohio on the southern shore of Lake Erie, approximately 60 miles (97 km) west of the Pennsylvania border. It was founded in 1796 near the mouth of the Cuyahoga River, and became a manufacturing center owing to its location on the lake shore, as well as being connected to numerous canals and railroad lines. Cleveland’s economy has diversified sectors that include manufacturing, financial services, healthcare, and biomedical. Cleveland is home to the Rock and Roll Hall of Fame.
As of the 2010 Census, the city proper had a total population of 396,815, making Cleveland the 45th largest city in the United States, and the second largest city in Ohio. Greater Cleveland, the Cleveland-Elyria-Mentor Metropolitan Statistical Area, ranked 28th largest in the United States with 2,068,283 people in 2011. Cleveland is part of the larger Cleveland-Akron-Canton Combined Statistical Area, which in 2012 had a population of 3,497,711, and ranked as the country’s 15th largest CSA.
Commercial Real Estate Cleveland
There is currently a booming market for commercial real estate in Cleveland. There are local firms and brokers who specialize in commercial real estate in Cleveland. In addition, there are online resources available that can help one buy, sell, or research Cleveland commercial real estate.
Retail businesses occupy a large percentage of the commercial properties in Cleveland. Because there are a numerous federal and state laws that must be followed when to buying or selling commercial real estate, it is advisable to ask the advice of a professional real estate firm and/or attorney before doing so.
A number of websites provide online listings of commercial properties for sale. These lists are regularly updated. One can search these lists to gain a general idea of the quality of the properties that are available within a given budget. (The prices of commercial real estate typically vary according to their location, size, and quality of construction.) If you are planning to put one of your commercial properties up for sale, it might be to your advantage to add your property to one of these lists.
Although it is often more convenient to do research online, there is no dearth of professional service firms that can help one research commercial real estate in Cleveland.
Some Cleveland real-estate firms deal with only premium commercial properties. Most middle and small level firms, however, deal with all categories of commercial real estate. There are many individual brokers and commercial real estate attorneys who can help a buyer or seller close a real-estate transaction quickly and efficiently.
An attorney will complete and verify the necessary legal documentation. Real-estate attorney fees are usually commission based. The rates of commission vary according to the price of the commercial real estate being bought or sold and the reputation of the individual firm or broker.