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

Friday, March 31, 2006

Chartwell Group Auction Results on Akron Apartment Buildings

1683, 1695 & 1709 Dominion - 18 total units - high & final bid $505,000
Per Unit Value of Sale - $28,055

1721-1731 & 1733 Cromwell Dr - 10 total units - high & final bid $390,000
This property consists of all 2-bedroom units, townhouse style, with direct access garages & separate utilities.
Per Unit Value of Sale - $39,000

1326-1342 Thurston Street - 8 total units (4 duplexes) - high & final bid $259,000
Per Unit Value of Sale - $32,375

1325-1341 Thurston Street - 8 total units (4 duplexes) - high & final bid $170,000
Per Unit Value of Sale - $21,250

1352-1362 Thurston Street - 6 total units (3 duplexes) - high & final bid $130,000
Per Unit Value of Sale - $21,667

1351-1361 Thurston Street - 6 total units (3 duplexes) - high & final bid $139,000
Per Unit Value of Sale - $23,167

1238-1240 Seward Avenue - 2-units (single duplex) - high & final bid $48,000
Per Unit Value of Sale - $24,000

Minimal Turnout with only about 1/10 of audience actually bidding on properties... 5 bidding parties out of 50 people. (regarding apartments)

Thursday, March 30, 2006

Mortgage bankers' group says proposed guidance too prescriptive

Thursday, March 30, 2006By Janis MaraInman News

Tuesday, March 28, 2006

Fed Boosts Interest Rate to 4.75 Percent

Tuesday March 28, 4:38 pm ET By Jeannine Aversa, AP Economics Writer
Federal Reserve Boosts Key Interest Rate to 4.75 Percent, Its Highest Level Since April 2001

Hudson residents protest cluster home' proposal

Citizens express concerns about safety, privacy if development on Middleton Road is approved
Beacon Journal staff report

Gannett looks at Knight Ridder papers

Chain may buy some of 12; its TV stations such as WKYC pose regulatory hurdle
Bloomberg News

Varca Hardware will close in May

Akron landmark to go out of business after 58 years. Family business can't compete with national chains
By Mike Rasor
Beacon Journal business writer

Thursday, March 23, 2006

Quicken Loans to open Tower City office

By JAY MILLER1:24 pm, March 23, 2006
Quicken Loans is landing at Tower City Center.

Monday, March 20, 2006

Reduce, Reuse & Recycle

I am already starting this....

We either throw out a ridiculous amount of these or have them stored somewhere in our homes...

Plastic bags from the Grocery store....

Put some in your car and next time you go to the store... reuse the bags.. if enough people do this it will add up in our hearts and not in landfills.

Mother nature thanks you for your efforts...

On an even easier note, try refilling water bottles instead of trashing them, as they clutter the sides of the road and our landfills... one bottle reused is one less bottle our planet has to digest.

I look forward to hearing any additional suggestions or ideas...

NMHC Quarterly Survey of Apartment Market Conditions (January 2006)

NMHC Quarterly Survey of Apartment Market Conditions:Market IndexesJanuary 2006

Sunday, March 19, 2006

Congratulations to St V-St M... Final Four!!! ** CLick here for full story

Irish head to Columbus
By David Lee Morgan Jr.
Beacon Journal sportswriter

Monday, March 13, 2006

Traffic grows at Akron-Canton Airport ** Click here for article

Tuesday, March 07, 2006

New University of Akron Housing Underway ** Click Here for Story

Big plan on campus
$32 million Exchange Street hall to open in 2007 for 470 students
By Carol Biliczky
Beacon Journal staff writer

Monday, March 06, 2006

Cleveland Area Mountain Biking Association ** Click here for Homepage

Welcome to the Cleveland Area Mountain Bike Association! CAMBA is a group of Northeast Ohio mountain bikers dedicated to helping Cleveland live up to its potential of becoming one of the best urban riding locations in the United States. As an International Mountain Bicycling Association affiliated club, we share their mission:
We encourage sustainable, low-impact mountain bike riding.
We encourage volunteer trail work participation.
We promote cooperation among different trail user groups.
We create innovative trail designs and trail management solutions.
CAMBA is affiliated with the following organizations:
International Mountain Bicycling Association
Ohio Mountain Bike Association
Ohio Trails Partnership
We are a 501(C)(3) charitable non-profit corporation registered in the State of Ohio.
What we do
Trail Building: CAMBA builds and maintains trails for mountain biking and hiking in places such as West Branch State Park and Quail Hollow State Park.
Trail Advocacy: CAMBA works to gain access to trails in the Cleveland area and promotes sustainable mountain biking. We work with land managers and park officials in places such as the Cuyahoga Valley, State Parks, and area Metro Parks.
Group Rides: CAMBA sponsors group mountain bike rides for people of all ages and abilities.
Join CAMBA today!

CAMBA memberships cost as little as $20 per year and you can become a member by clicking right here. Your membership dollars go toward the tools and supplies that help us build trails, gain access to trails, and sponsor exciting events. Your membership also entitles you to great discounts at many area shops. A complete list of those discounts is available by clicking here.
Click here to join CAMBA today!

How do I get involved?
Join us for a ride: Check out our event calendar for the latest group ride schedule. All ages and abilities are welcome.
Help build trails: The number of miles of trail we build is only limited to the number of people that help us build trails. Trail building season usually runs from November through May and all dates are posted on the event calendar.
Attend a meeting: CAMBA's meetings are usually on the second Tuesday of each odd-numbered month. Check the event calendar for the most current dates, times, and locations.
Other ideas: Take a look at our "getting involved" page for more ideas on how you can help CAMBA.

How do I contact CAMBA?
General questions:
Our address:
Cleveland Area Mountain Bike Association
P.O. Box 771471
Cleveland, Ohio 44107

Friday, March 03, 2006

Condominium Owners Sour on Rules ** Click here for story

Source: SmartMoney, Jim Rendon (03/01/06)

Wendy's May Sell Its Baja Fresh Chain ** Click Here

By JoANNE VIVIANO, Associated Press Writer Fri Mar 3, 6:57 AM ET
COLUMBUS, Ohio - Wendy's International Inc. is exploring a sale of its underperforming Baja Fresh Mexican Grill unit and plans to boost its board ranks with three new directors endorsed by an influential investor.

Thursday, March 02, 2006

Commercial Investment Updates ** Both SOLD & AVAILABLE

SOLD ~~ 396 Total Units - In 4 Buildings purchased from CMI & GMS Management in Canton was finalized and remodeling is underway.

AVAILABLE ** 167 North Portage Path (6-units) has been listed by Pappas Realty Co. Contact Sean Dreznin for more information.

AVAILABLE ** Cedarwood village is currently available for $24,750,000 which equates to $52,000 per unit. The property consists of 476-units.

AVAILABLE ** Sean Dreznin has a confidential listing available to principals only, that is located in a highly desired area, and priced reasonably in today's market. Please contact Sean directly at 330.858.3145 if you would like more information. Please note you will need to fill out a confidentiality form, a registration form & provide financial details about yourself or your company to qualify to pursue the opportunity. (As requested by the owners).
The opportunity consists of approx. 150+ units.

SOLD ~~ 70-102 Dartmore -- consisting of 32 units sold approx Dec 12th, 2005 for $450,000, or $14,062 per unit.

SOLD ~~ 1542 Front St -- Consisting of 10-units, sold in 2005 for $480,000

Property tax rollback challenged ** Click here for article

By STAN BULLARD3:01 pm, March 2, 2006
The state of Ohio's decision to eliminate the 10% state rollback on property taxes on commercial properties was challenged in a suit filed Wednesday in the Ohio 10th District Court of Appeals (Franklin County) by two Columbus apartment owners, with support from apartment trade groups.

Wednesday, March 01, 2006

I thought this was a relatively funny caricature....