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Must-Read Tips to Appraise, Buy, and Sell Special Purpose Property [2021]

Special Purpose PropertyWith 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).

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6 Mixed-Use Development Trends Embracing The Jetsons’ Lifestyle [2021]

Mixed-Use Development TrendsCould 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.

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52 Tips to Negotiate an Office Space for Lease in Columbus, Ohio [2021]

Negotiate Office Space for Lease in Columbus, OhioAre 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.

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What Is a Land Contract In Ohio? Full Guide [2021 Update]

Land Contract in OhioIn 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.

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Former Cincinnati Bengal Mike Doss Makes a Big Play With The Robert Weiler Company

Mike DossWhen 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

Robert WeilerEach 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

Commercial Real Estate Appraisal Review: Essential Handbook to a Necessary and Influential 2nd OpinionIn 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…

What to Expect from a Property Management Company?

Property Management CompanyIf 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.

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What Do Property Management Companies Do? (And How to Vet Them)

What Do Property Management Companies Do?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.
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Tell-Tale Signs You Should Hire a Specialist in Real Property Management – Columbus, Ohio

Hire Real Property Management in Columbus, Ohio

Columbus, Ohio is home to many residential and commercial rental properties. In the past few decades, we’ve noticed a steady increase in building owners and landlords looking for help. Let’s face it, property management is a long-term ordeal, and not everyone has the time to perform real property management – you are not alone. Maintaining and running a property can quickly become overwhelming. Do the following five statements ring true for you? If so, they may be signs that you need help from an on-site property manager for hire!

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COVID-19 Accelerates E-Commerce Surge, Sparking Investment in Industrial Real Estate

Industrial Real Estate COVID-19A little over two years ago, our hometown paper, The Columbus Dispatch, published an article about an emerging trend: the rapid growth in demand for industrial real estate in Central Ohio.

At the time, the article focused on the “Amazon effect” – the local warehousing of an enormous stockpile of products for regional distribution. With about 2 million square feet of industrial real estate in just two facilities, Amazon was king. But smaller businesses were about to be knighted, too, as online shopping continued to increase. Even then, the article noted that warehouse vacancy rates were trending downward to as little as 3 percent in the Grove City and West Jefferson markets.

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Boost Profitability of Your Farm for Sale in Ohio: 2 Determining Factors

Farm for Sale in OhioIf you are one of the 75,000+ principal farm operators in the state Ohio, you know that having a farm for sale in Ohio is unlike selling any other property. With the recent boom in housing sales and commercial real estate development, farmland has proven to generate a significant return on investment for you, the land owner.

By no means are we suggesting it’s a difficult process to sell farmland; however, the effort you put into prepping your farm for sale can pay off. There are two main factors that will determine the profitability of your sale, namely land evaluation and taxes. Therefore, we recommend you focus your attention here.

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How “Smart” Transportation is Transforming Commercial Real Estate

Smart Transportation & Commercial Real EstateIn March 2020, Mass Transit magazine (a business-to-business transit publication) featured a piece that was good news for Central Ohio residents. The article reaffirmed what a growing number of people have come to accept as a matter of course: exciting new transportation initiatives are transforming commercial real estate.

So, what was the good news?

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Your Ohio Commercial Property Reassessment Cheat Sheet

Property Reassessment DroneWith recent headlines focused on politics, protests, and international disputes, Ohio commercial property owners may have overlooked or forgotten that a statewide property tax reassessment is nearly complete.

Ohio law stipulates that a comprehensive property reassessment is completed every six years, with an update at the three-year midpoint. Auditors from across the State spend years evaluating a select list of criteria to determine a property’s value and, thus, its new tax rate. As Ohio business owners know, a lot can change in that time. For some, that means they can expect a tax hike. For others, it might mean a decrease. Lastly, some commercial property owners will see a negligible difference, regardless of the appraisal.

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Investing Your Bucks in the Buckeye State: Why Ohio’s Opportunity Zones Are Poised for Growth in 2020

Ohio Opportunity ZonesThanks to the passage of the 2017 Tax Cuts and Jobs Act, Opportunity Zones have fueled economic growth in communities throughout Ohio. Clark Gable, famed Hollywood actor and Ohio “native son,” reflecting on his life, once remarked that he was “just a lucky slob from Ohio who happened to be at the right place at the right time.”

But, you can bet that he would have felt a whole lot luckier with Ohio’s economic Opportunity Zones now in place. Opportunity Zones offer a bevy of tax incentives to individuals and businesses that reinvest in economically distressed parts of the state at-large and the greater Columbus, Ohio region. Similar in some respects to New York City’s local Business Improvement Districts (BIDs), Opportunity Zones encourage financiers to invest their capital gains in businesses or properties in economically distressed, impoverished areas.

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The Conclusive CRE Guide to Opportunity Zones

CRE Guide - Opportunity ZonesAre you aware that you may be eligible for preferential tax treatment by investing in Opportunity Zones? You don’t even need to live, work or have a business within the area of your investment! Discover how you can use this economic development tool to benefit your bottom line for the upcoming tax season, while also boosting economic development and job creation in underserved communities.

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Buying or Selling Ohio Land for Sale? Think Land Appraisal.

Ohio Land for Sale? Think Land Appraisal!When there is Ohio land for sale – whether it is raw acreage, commercial property, or residential – a land appraisal is the key component of the process. Any loan for a property is based on the appraisal value. As a buyer, owner, or seller, understanding the true value of the real estate in question is important. This will help you make the most of your real estate decision. But first, it’s important that you understand the process of a land appraisal and know what to expect.

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A Conservation Easement Guide to Protecting Our Treasured Land

Conservation EasementThe importance of a fully modern open space preservation vehicle, the conservation easement, cannot be better summarized than by than our 26th President. Theodore Roosevelt, one of the nation’s original land protectionists, embodied the power – and beauty – of a conservation easement in the following quote:

“Here is your country. Cherish these natural wonders, cherish the natural resources, cherish the history and romance as a sacred heritage, for your children and your children’s children. Do not let selfish men or greedy interests skin your country of its beauty, its riches or its romance.”

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Conservation Easements Pros and Cons: Keep Ohio Cool and Green

Conservation Easements Pros and Cons: Keep Ohio Cool and GreenSummer in the Buckeye State can be a sultry affair. And, surprisingly, one way to beat the heat may involve a unique land protection vehicle known as a conservation easement. From a climate perspective, a green oasis can help cities lessen their urban heat island effect.

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Ding-Dong! Retail is NOT Dead! The Resurgence of Retail Space for Lease in Columbus, Ohio

Retail Space for Lease in Columbus, OhioThe future of brick-and-mortar retail may not be in dire straits as many analysts have predicted over the last few years. Even with skyrocketing online sales (a 16% increase in 2017 alone), shoppers still enjoy personal relationships, experiences, and the comfort of physical store settings. Moreover, the cause of business bankruptcy may not be due to competition, but the result of poor management, increased debt, or general market conditions.

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