Blizzard

We were closed yesterday. I was supposed to be leaving town, but that obviously didn't happen. When I woke up, I couldn't tell how much snow there was, because it had blown around so much. There is no school this week, so I couldn't use the school closings as a guide. It was Monday after a holiday, so I didn't have yesterday's news to go by. Since we'd already cancelled the paper and Comcast was knocked out by the storm, I didn't have today's news to go by! So how did I decide to close?

Well, real estate is almost always a delayable purchase. Many buyers, as well as agents, don't want to drive if they don't need to do so. Those warnings and pleas from the Governor's office, to stay home if you can? They generally apply to us. In addition, most people don't want their properties shown in bad weather, because they don't want to take the risk that a prospective buyer would fall or get hurt trying to get in. Most inspections, closings, negotiations, and other business can be delayed for a day. Everything else, including anything that can be done with a computer and email, will proceed as usual. It's one of the benefits of the change in real estate, away from bricks and mortar and toward clicks.

Of course, we always worry that we will inconvenience someone who expects us to be open. That's why it matters whether everything else is up and running. As far as I could tell yesterday, not much was. So why make employees struggle to come in, only to sit around without any calls or visitors?

Finally, I think a lot of people hoped that the Christmas spirit would linger one more day, if we all took a deep breath and relaxed. And, at least for us, it did!

E&Y Tower Moving Forward

Though we've known about the project and the financing structure for some time, the deal FINALLY closed yesterday for the construction of Cleveland's first CBD office tower in nearly 20 years. What will be known as Ernst & Young Tower, the first tenants include E&Y, Tucker Ellis, a large law firm based in Cleveland, and us, CBRE Cleveland. E&Y Tower is expected to open early 2013 and will include a hotel, conference center and several restaurants.

This is the beginning of what could be a boom for Cleveland. Waiting shortly behind the Tower is the construction of the new casino, which will be housed temporarily in the Higbee Building on Public Square, and the new convention center and medical mart. These developments, along with the strong activity in the Health Tech Corridor in Cleveland's Midtown, will hopefully push Cleveland in the right direction.







FORUM Architectural Services LLC, provided by www.cleveland.com

Midtown Cleveland Development Opportunity | Victory Innovation Center

Very rarely do Steve and I use our blog to promote a listing but we think this one warrants some press given all the development activity in this sub-market and the opportunity this building presents for an investor/developer.
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