Cleveland Commercial Real Estate

In the news: “Office is not dead,” said Terry Coyne, executive vice chairman in Newmark’s Cleveland office. “It took a while to come back — but people like to be with people. Most of the US has been back from the pandemic. It just took us a bit longer. But office buildings with good owners have strong demand.” Read more: neo-trans.blog/2026/01/23/sh…

Ohio’s top sales activity in 2025 was heavily concentrated in its major metropolitan areas, with Columbus, Cleveland, Cincinnati, and Dayton capturing the largest and most valuable transactions. Secondary cities saw mid‑range deals, while rural areas recorded the smallest sales volumes. Explore the full 2025 State of Ohio Commercial Real Estate Top Transactions & Trends analysis report and interactive map on my website: terrycoyne.com/2025-ohio-cre…

We are happy to announce the acquisition of 671 acres of land in Harrison Township, just south of Rickenbacker airport. My partners, including The O.H.I.O. Fund, are offering the largest available contiguous site in the market. It is a @CSX certified platinum site with a main rail line servicing the property. bizjournals.com/columbus/new… via @columbusbiz1st

I am proud to announce that Claire Coyne McCoy, Derek Lichtfuss, and I have been recognized as Q2 2025 CoStar Power Broker winners. Claire and I were recognized for closing a top industrial leasing deal as landlord representatives in the Cleveland, OH market, totaling 46,951 SF. Derek is recognized for closing a top industrial leasing deal as a tenant representative in the Columbus, OH market, totaling 99,802 SF. The @CoStarGroup Power Broker Awards recognize and celebrate the best of the best in commercial real estate across the United States and Canada. #CoStarPowerBroker #CommercialRealEstate #CRE #Cleveland #Columbus #Industrial

Did you know our team has an interactive map of Ohio that tracks Class A warehouse/distribution buildings that are 100,000 square feet or larger & built in 2020 or later? It also includes proposed & under construction projects. We cover Northwest, Northeast, and Central Ohio, and everything in between. If you are a company looking to lease, sell, or purchase this type of sought-after asset, contact us! In the meantime, check it out terrycoyne.com/ohio-big-box-…

As we quickly approach Election Day, I am paying closer attention to the election for local judges. Foreclosures in the state of Ohio take far longer than in many other states. Myself and a partner once owned the mortgage for the La Dolce Vita building in Little Italy. From start to finish the foreclosure process took four years. I remember being in court and the borrower called me a predatory lender, and I retorted that he was a predatory borrower since he hadn’t made any payments in those four years. The receiver was able to earn remarkable fees during those four years, and the receiver relied on its attorney to do much of the work, which ran the bill way up. We were fortunate to not lose any money. The court system gave the borrower every opportunity to game the system, while not making any mortgage payments. As the office market continues its decline, one of the ways to revitalize it is to remove the borrowers quickly and give new investors an opportunity to revitalize the facilities. But often receiverships take years and properties become zombie buildings. So this election season, as judges knock on your doors and ask for your vote, ask them where they stand on the very specific question of foreclosures. While it seems niche, it has a huge impact on the economy in our state. We want to encourage new investment at a faster pace, not create bottlenecks that bleed out major cities.