Cresco Real Estate Blog

A great real estate consultant will ask the most questions in the best way to elicit responses from individuals as it relates to making the entire process more efficient.

When looking for the perfect commercial property listing, a good broker will provide you with a list of recommendations, but a great broker will go one step further. Follow these steps to successfully land the perfect commercial property listing.

COSE Update by Kristen Hampshire, Contributing Editor

You can feel the buzz and see the action from the Terminal Tower offices of Hennes Paynter Communications. With casino development underway, “There’s a new energy going on downtown and certainly in this building,” says Bruce Hennes, managing partner in one of the only firms in the country focused exclusively on crisis communications.

Cleveland State University, The Ohio State University and Marietta College (the “Study Team”) were jointly asked by the Ohio Shale Coalition, to investigate the nature and amount of economic activity that is likely to be spurred by this development. Below are excerpts from the research about how this development will impact the state of commercial real estate in Ohio.

For the first time in over 100 years, Ohio finds itself on the threshold of not only being self-sufficient in the production of oil and gas, but it may even become an exporter. This is because thousands of feet below the eastern half of the state lies a shale formation, commonly called the Utica Shale, that promises to be a major source of hydrocarbon production for the next 30 plus years.

Looking for commercial property in Ohio can be made much easier when you first consider a couple key factors. A good broker will ask you these questions before you even begin your search.

When you think of due diligence when investing in commercial real estate, you might focus on the physical structure, the condition of the roof, the mechanical systems and the environment condition of the property, but it goes far beyond that.

Inexperienced buyers may think it is easy to invest in commercial property, improve it and either lease or sell it. But they often underestimate the time and money it takes to improve the property as well as the time it takes to find a buyer or tenant. If you think you will have to hold it for six months and it is actually 12, then you are paying a mortgage with no cash flow coming in.

To make a great commercial property investment, you first need to have a well-thought-out plan. In most cases, a poor plan, or lack of a plan is the biggest mistake first-time investors make. The key is to choose an investment model that works for your financial position and comfort level, then identify a property that is well aligned with your model.

When looking for the right commercial broker, the first question to ask is whether that person has a specialty: office, retail or industrial. Second, ask to see a resume of the type of transactions that person has completed, and ask whether you can talk to the people involved in those deals. Also ask what extra ingredient that person can bring to the table to assist you.