by Dan Rafter
The Cleveland market is hot, especially in the city’s downtown core. That’s the message that speakers shared with attendees at the Cleveland Commercial Real Estate Summit held by Midwest Real Estate News in late May at the Museum of Contemporary Art Cleveland.
The biggest names in Cleveland real estate — the summit attracted such speakers as Alex Jelepis from Newmark Grubb Knight Frank; Alec Pacella from NAI Daus; Bart Simone from North Pointe Realty; and Brian Hurtuk from Colliers International — all shared the good news that the commercial real estate market in this city is firmly in growth mode.
And nowhere is this more evident than in downtown Cleveland, which is now attracting new retailers, restaurants and even office buildings.
One highlight of the summit was the apartment market panel. Michael Barron, Marcus & Millichap; Ross Halloran, Bellwether Enterprise Real Estate Capital; Mary Forbes Lovett, Ulmer & Berne, who served as moderator; Charles Schulman, Carlyle Management; and Joy Anzalone, Burton Carol Management, all said that the city’s multifamily market remains hot. Developers have plans to add even more new apartment units to the city’s downtown and surrounding communities, these apartment experts said.
The summit’s Retail, Office, Industrial and Healthcare panel featured Alex Jelepis, Newmark Grubb Knight Frank; Alec Pacella, NAI Daus; Joseph Barna, Cushman & Wakefield/CRESCO; Steve Altemare, Goodman Real Estate; Chad Pinnell, JLL; and Suzanne Hamilton, First Federal Lakewood, who served as the panel’s moderator.
The city’s biggest real estate stars spoke during the Cleveland Titans panel. Panelists were Linda Green, Chicago Title, the moderator; Bart Simon, North Pointe Realty; Adam Fishman, Fairmount Properties; and Brian Hurtuk, Colliers International.