Is this my 15 Minutes of Fame?
Hopefully not... but, I was pleasantly surprised to open the Winter 2008-09 issue of the Northeast Ohio Office Buildings Magazine and find that I had been quoted by Jay Miller in his Market Survey article titled "Surveying the Market: Uncertainty Finally Reaches Cleveland". In this article Jay, the highly reputed Crain's Cleveland Business government and economic development reporter, accurately depicts Akron as an exciting marketplace for Commercial Real Estate brokers. He lists several positive happenings in and around Akron, most if not all have been lauded in my previous blogs. I was quoted by Jay as saying "It's been a little bit more of a struggle [in the last four months of 2008]", and "Deals are happening though, and we're optimistic. It doesn't do any good to think otherwise." True, so true. Deals are continuing to happen and those agents/brokers that refuse to keep an optimistic attitude will surely struggle in the months to come. Even in "Down" markets Tenants and Buyers are there. Smart Tenants take the opportunity to find better quality or more efficient locations. Smart Buyers (and qualified Buyers) take the opportunity to purchase properties at well below "normal" strong-market prices. As reported, our market in Northeast Ohio is not overbuilt and by its conservative nature remains relatively stable as compared to the rest of the country. Stay tuned for more positive Akron area commercial real estate news!
Mark Stacy -NAI Cummins Rea Estate
