Pappas Realty Co... "Commercial Real Estate...Exclusively" in Northeast Ohio since 1957

Thursday, February 09, 2006

NE Ohio Real Estate Transactions Top $1.25 Billion ** 73% increase

NE Ohio Real Estate Transactions Top $1.25BCommercial real estate sales in Northeast Ohio totaled $1.25 billion last year, according to survey by Grubb & Ellis Co. and Real Capital Analytics, Inc. The sales total is a 73% increase from the 2004 total of $723 million. Much of this volume was fueled by the sale of trophy skyscrapers such as the Key Tower and 200 Public Square. Office sales in Northwest Ohio totaled $474 million in 2005, up 187% from $165 million in 2004. Industrial sales hit $245 million, a 259% increase from 2004's $68 million. Sales of retail properties climbed 17% to $373 million in 2005 from $318 million in 2004.


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