CLEVELAND—Office sales have increased steadily in the Clevelandmetro area since 2010 and, driven by out-of-state investors, is nowapproaching prerecession levels, according to a new study byJLL. In just the last two years office investmentsales here have totaled more than $550 million. And the firmbelieves these buyers will keep sending their money to Cleveland in2018.
“Cap rates have steadily compressed in the principal markets,and prices have really ramped up,” Andrew Batson,Cleveland-based vice president and director of research, tellsGlobeSt.com. “Generally, investors are now looking inward andchasing yields.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
