Every six years, commercial property owners in Ohio face a reassessment of their property values conducted by their local County Auditor’s office. Typically, owners can only contest these values once every three years. But we all know that 2020 was anything but typical. Continue reading…
An Overview: What Is Industrial Space for Rent?
While not the most scenic part of any city, industrial space for rent powers the corporate infrastructure of America.
Before 1760, most Americans made their living farming and lived in widespread rural communities. The onset of the industrial revolution fundamentally changed the way that ordinary people interacted within society. With the emergence of factories, production efficiency, and mass manufacturing, industrial space for rent became the backbone that supports today’s modern cities. The great strides in production and manufacturing fostered our economic infrastructure, a system that provides more products with greater efficiency at lower prices.
Just as many today predict an all-digital retail environment, a final death blow to brick-and-mortar retail rental space, so have they expected the long-coveted “paperless office.” Nearly 50 years ago, in a Business Week article titled, “The Office of the Future,” writer Vincent E. Giuliano typed out a reasonably prophetic sentence: “By 1990, most record-handling will be electronic.”
Considering that by 1991, nearly a quarter of college graduates owned a personal computer, it would be easy to assume the paperless office would undoubtedly be around today, 31 years after the article’s publication.
Except that it’s not. Not even close. And neither has “Amazon everything” come to pass. Continue reading…
Recently, a beloved Canadian reached the milestone age of 90, joining a group of more than 2 million strong south of his native border. It is a group of increasingly vibrant – “and growing” – individuals with many estate planning appraisal and real estate planning needs for multiple properties.
No, we’re not talking about Jim Carrey; he’s 59. We’re also not talking about Justin Bieber. He’s not even 30. We’re talking about none other than Captain Kirk himself (or, if you prefer, the Priceline pitchman) William Shatner. While his addition to the coveted 90-year-old club is welcomed news for nonagenarians and their families alike (not to mention his rabid fans), the logistics of that longevity include some serious discussions over estate planning. As people live longer than ever before, they are increasing the time they have to add to their property and wealth accumulation. Estate planning and real estate planning can feel daunting at first (especially if your list of assets is galaxy-stretching long like a certain Starfleet captain), but it doesn’t have to be.
Here in Ohio, the number of licensed property management professionals is increasing – and with good reason. The median annual salary for a Columbus property manager, for instance, is $99,867, according to Salary.com as of April 27, 2021. And that amount is not even including bonus, commission, and benefits, as well as other factors that impact base pay. Now, also factor in great market access, the standard of living, and valuable tax climate; you can easily see why individuals seek out Columbus, Ohio as a place to start their property management career. Below is an overview of the full salary ranges, as well as licensing and certification options that may help you decide the path you want to take today.
When it comes to property management – and property management companies – a great debate rages on. In some sense, it’s a debate that is as old as the commercial real estate industry itself; a profession that got its unofficial start in the 19th century. (Consider that it was only a few short decades after Founding Father, elder statesman, and successful businessman Benjamin Franklin passed into history.
No stranger to offering business-related sage advice, Benjamin Franklin was fond of reminding us all that “death and taxes” were the only two certainties in this world. While Franklin knew that death and taxes were guarantees, how those taxes are paid, and who’s managing the properties taxed is anything but certain. Then, as now, there are two schools of thought: third-party on-site property management companies vs. in-house property management (or “self” management).
Have you watched shows such as Shark Tank or The Profit and wondered how Kevin O’Leary or Marcus Lemonis calculate business valuation? Unfortunately, reality television shows aren’t the best platform for learning how to value a small business (or a company of any size). That’s why we surveyed our business valuation experts, captured the 12 most frequently asked questions, and provided answers that can offer the guidance you need.
Over half a century ago, the United States inaugurated a special day, April 22, as Earth Day. As we prepare to commemorate the global phenomenon, The Robert Weiler Company is excited to announce that the green movement is alive and well in the commercial real estate industry.
What began as a localized, American movement, is now celebrated by more than 192 countries. The goal is simple but profound: raise awareness regarding humanity’s impact on the global climate and how, collectively, we can affect positive change. Commercial real estate developers are ensuring that the goal of Earth Day is being met, as evidenced by widespread initiatives in green design and sustainable building. Continue reading…
It’s easy to be mixed-up about mixed-use property for sale! The sector offers a head-spinning amalgam of residential, commercial, hotel, and retail space; however, each piece harmonizes to form an immediate community. Not to mention that mixed-use properties are especially popular in our hometown of Columbus, Ohio, spread across the urban and suburban landscape.
Are you ready to mess around with mixed-use property for sale? First, as a prospective investor interested in the mixed-use real estate development concept, you must understand the requirements of these unique community environments and the people inhabiting these structures. That’s why our in-depth review of mixed-use space will provide the insight to make a wise investment decision. Join us as we explore the benefits of investing in mixed-use properties, survey a cross-section of the different types of properties, scrutinize current trends in the market, and discover why mixed-use property for sale is such a good investment.
Did you know that all across the nation and in the Central Ohio real estate community, April is known as Fair Housing Month? A commitment to equal opportunity for every community, this year marks the 53rd anniversary of the landmark celebration. Each year, we recognize the importance of this event and reconfirm our commitment to upholding fair housing laws through our property management services; we accomplish this through our commitment to offering equal CRE services to everyone throughout their commercial real estate journey.
As you look at prospective investors of residential and multifamily properties (as well as commercial properties), join us in taking fair housing in our great region seriously – not just this month, but every month. Learn more about Fair Housing and what you can do to get involved, below.
With spring around the corner and signs of improvement for the pandemic, a feeling of rebirth is in the air across Ohio. But for up-and-coming neighborhoods with a special purpose property or unique properties for sale, the soon-to-be bloom time might as well be called boom time.
Something “special” is taking place in neighborhoods throughout the Columbus region. Just look towards Franklinton (just west of the Scioto River, subdivided into East and West), the Arena District, or once-downtrodden places like the Short North Arts District (running in a narrow strip along N. High Street from the convention center to 5th Avenue).
Could we all be living in an episode of The Jetsons someday? Mixed-use development in 2021 may not resemble Orbit City, but commercial builders, architects, and real estate investors are undoubtedly re-engineering the proximity of your personal and professional orbit.
Are you searching for office space for lease in Columbus, Ohio? The region certainly has a lot to choose from, providing you understand the best methods for your search for office space. Once you find that dream office, though, you have to rely on your preparations and negotiating strategies to get the best lease price and terms of the space. You’re likely here because you want to learn some tactics. The best thing you can do is strategize, research, learn, and ask plenty of questions; doing so will ensure that you have a good understanding of the lease and level the playing field when negotiating. This comprehensive guide, packed with 52 top tips, will help you fully prepare so you enter the negotiation with confidence.
In commercial real estate, buyers and sellers must be knowledgeable to make informed decisions. Are you familiar with a commercial land contract in Ohio, as well as the state-specific requirements? What is a commercial land contract in Ohio, really? Essentially, a land contract is an alternative financing option if you’re investing in:
- Farmland or raw land
- Multifamily housing
- A commercial building
- A home or condo
While a commercial land contract might be ideal for you, there are important details you need to know, first. So, what is a land contract agreement, and how does it work? Let us give you a lay of the land (pun intended)! Learn how you, the commercial real estate investor, can avoid the bank and make an agreement directly with the seller.
When you spend your whole life on the football field, it is hard to imagine yourself in an entirely different career. For Mike Doss, after he retired from the NFL, his future path was unclear. What role would be the best fit for his skill set? Mike decided that a job in sales was his best option; then Bob and Skip Weiler came along. Continue reading…
Robert “Bob” Weiler Honored with the C-Suite Lifetime Achievement Award 2020 from Columbus Business First
Each year, Columbus Business First recognizes industry executives who stand at the forefront of the Central Ohio business by embodying exemplary leadership qualities. This year, Columbus Business First chose Robert “Bob” Weiler as an honoree for the C-Suite Lifetime Achievement Award 2020! The 2020 awards and honorees are especially significant due to the changing landscape of business worldwide because of the coronavirus pandemic.
During times of crisis, we look to our leaders for guidance, reassurance, and security. As Chairman of the Board for The Robert Weiler Company, Bob strives to be the sounding board and safety net for his company and its employees. Bob told Columbus Business First that the most important lessons he learned during this time are positive communication and, above all else, health. Continue reading…
Commercial Real Estate Appraisal Review: Essential Handbook to a Necessary and Influential 2nd Opinion
In the age of social media, we’re frequently asking friends and family for their thoughts on a subject. Unlike a commercial real estate appraisal review, most of the answers from “Facebook experts” are not fact-based; the responses on your social media post will range from beliefs to convictions to opinions.
Fortunately, we do not conduct commercial real estate appraisals on social media! And, the commercial real estate appraisal review process is not just a second opinion or a survey to friends or even colleagues; it is a required, in-depth analysis by industry experts. In most instances, such as public development projects or litigation cases, the commercial appraisal review is a mandatory examination of an appraisal report to spot mistakes, address errors in a CRE appraiser’s judgment or update information based on changing conditions due to the passage of time. Continue reading…
If you own several properties (or even just one), the chances are that you don’t have much time on your hands. That’s why a property management company is the perfect solution for commercial real estate owners like you!
Owning commercial property is a considerable undertaking. As an investor, you must ensure that your real estate appreciates by making smart improvements. The day-to-day property management can include everything from picking up the phone for a tenant complaint to contacting a local vendor for a maintenance request. The list of property management tasks can seem endless.
Owning commercial property is a huge responsibility. Most building owners and multi-family real estate investors don’t realize that property management companies can completely relieve them of the day-to-day administration of property, prospects, and tenants. The ability to outsource oversight and stewardship of commercial property removes a considerable burden of responsibility, allowing CRE owners more time to focus on generating ROI on current and future investments.
Commercial property management is a year-round task as weather changes can bring unexpected complexities to inexperienced property owners throughout the seasons. Every season poses a unique set of challenges. The property you oversee must be ready for any weather condition, regardless if you’re encountering winter snow or summer winds. Managing apartment buildings, or an office, retail, or warehouse space? Get out your calendar and start jotting down these maintenance tips to follow during each of the four seasons.