Cincinnati, OH | 2016 Top #CRE Markets to Watch: Office

SVNIC’s 2016 Market Outlook Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2016. Today we are delving into the 2016 Top Office Markets to Watch. Not the largest or the most actively contested markets, the 2016 Office Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

Top Office Market to Watch: Cincinnati, OH

Cincinnati - top office market to watchCincinnati’s economy is still struggling to find a consistent growth trend as unemployment started the new year at 5.2%, up from 3.9% in August of ‘15, according to the Bureau of Labor Statistics. Positive signs for the office market can be seen in Financial Activities and Information, which are growing at annualized rates of 3.6% and 2.2%, respectively; however the key office-using sector of Professional and Business Services is losing ground with –1.6% growth. Overall, the run of consolidations in industries such as banking, legal firms, etc. has still left Cincinnati with relatively high vacancies and lower lease rates. As the national economy grows, these relative pricing advantages should position Cincinnati to gain new tenants and users looking to locate in the region.

Advisor Insights: SVN | Commercial Realty Advisors, Inc.

SVN’s Cincinnati-based Advisors at SVN | Commercial Realty Advisors, Inc. have some office market highlights to share. Here’s what to look out for in the Cincinnati office market in 2016:

  • Continued rise in absorption
  • Declining vacancy rate
  • Continued recovery and stabilization

Stay Updated…

Over the next few weeks, the SVN Blog will be featuring posts that will focus on each of the top markets to watch for industrial, multifamily, office, and retail properties. SVN Advisors from selected top markets have provided their industry expertise regarding what to look out for in their specific market in the coming months. Don’t miss out on these important insights – subscribe to the SVN Blog on the right side of the blog homepage.

To read more on other top office markets, download the full version of the 2016 Office Market Outlook report here.

2016 Office Market Outlook

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5 for Friday with Stasiu Geleszinski of SVN / RICORE Investment Management, Inc.

Stasiu Geleszinski Shares His 5 for Friday

This week, our 5 for Friday features Stasiu Geleszinski, Vice President of Investments at Sperry Van Ness / RICORE Investment Management, Inc. based out of Cincinnati, OH.Stasiu Galeszinsky

1. What is your geographic market and product specialty?

The SELL with STASH Multi-Family Investment Sales Team (STASH) specializes in market rate apartments in Cincinnati, Dayton, Columbus, and into Northern Kentucky. We focus on Multi-Family Investment properties, with active prospecting on properties of 50 units or more, those likely to have at least a $1,000,000 value. ​

2. What is your latest best practice tip that you can share?

​What gets measured gets improved; being in touch with people, if we’re not on the phone as a broker, we’re not doing a job.  We strive to have 50 conversations a week and often far exceed that.

Another best practice is building and having a team.  My success is our success, and without my colleagues, Sherief Gouda and Nathan Murphy, I wouldn’t be where I am today.  Together we can truly get more done than any one of us could on our own.  Previously, when I would be out of the office everything would stop, now we always have someone in the office to cover phone calls and handling of client issues. The team is the source of our success.

3. What does the SVN Difference mean to you?

​​​The SVN difference to me means getting new listings out to market in record time with high quality marketing material, to the largest pool of market participants, be it buyers directly or co-op brokers.

4. What business book, blog, or website do you like to recommend to your colleagues?

​Think & Grow Rich by Napoleon Hill.

5. What is a fun fact that not everyone knows about you?

In high school I was a championship wrestler with more than 120 career wins.

Are you ready to experience the SVN Difference? Check out our Careers page here.