CoyneReport Reveals Trends/Changes in Value Across Cuyahoga County CommunitiesSince the Cuyahoga County Assessor's Office has last updated property values, almost 1,000 commercial sales have taken place. Utilizing the search power of the CoyneReport.com, we have compiled a list of all these transactions. Since the Assessor and the Board of Revision use sales comps to determine property values, we thought we'd take a look to see whether local communities can expect their commercial property values to increase or decrease in the 2012 reassessment. Commercial property values provide a significant portion of many cities' property tax revenues, so this data is relevant to school boards, town halls, and concerned citizens alike. Our study revealed some surprising results.The City of Cleveland has had the largest positive difference in property values, with buyers paying more than $26 million over the assessed values. Other cities that saw large increases were Berea ($9,734,301), Richmond Heights ($7,891,800) and Bedford ($4,740,971). Woodmere, Parma, Beachwood, Lakewood and North Royalton also saw significant gains.
Read more >>CoyneReport - Analysis of Ohio’s CMBS Loans & Breakdown of 8 CountiesState of Ohio:There are 1,088 hold CMBS loans in the stateof Ohio. The total appraised value for these properties is approximately $8.5billion, with the total current loan balance of a little more than $10 billion.The shortfall of approximately $1,500,000 is not nearly as dramatic asexpected. With more than half of these loans due between 2015 to 2017, it ispossible the market could turn favorably, thus closing the gap (data providedby bloomberg.com)....
Read more >>Caldwell Building - Perfect Facility for Utica and Marcellus Shale ActivityThe Utica and Marcellus shale region frenzy is all the buzz, appearing in the news, papers, magazines and online. The demand for building/warehouse and office space in the shale area is great, and with that in mind, 17226 County Road in Caldwell, Ohio has incredible potential. The 233,000 SF facility is located in Noble County, and could possibly serve as an operations center to the Utica and Marcellus shale region. Formerly used as a manufacturing facility, this building can accommodate the needs of pipe and drilling companies, and offers an on-site waste water treatment facility. Power, sewer, gas, water & telecom are all on-site. The cost of the facility is 80% less than the cost of reconstructing the building. Growing interest and demand for building space in the Utica and Marcellus shale region make this Noble County facility a hot commodity.
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