Optimism and Progress for Cleveland Real Estate in 2018

Commercial and Residential real estate in Cleveland’s Central Business district is the best it has been in the last 10 years. Residential/apartments and condos are close to 97% occupied and commercial office and retail space is becoming harder to find and rental rates are creeping up.

Coakley Real Estate has been proud to be a part of Cleveland’s Renaissance.

2018 looks to be a continuation of a strong market. New projects on the horizon are The Standard Apartments and Worthington Yards. They are both in the Warehouse district, close to our office.

Stark Enterprises is building high end apartments at the corner of East 6th while Euclid and Playhouse Square will begin construction on new apartments at East 17th and Euclid.

Rental rates are on the rise but there is some speculation that the apartment market may be reaching a saturation point. Let’s see what happens.

Office space is becoming a Landlords market. Many class B & C buildings have been converted to apartments taking quite a bit of office space off the market. So the Landlords are finally raising their rents. Not since 2010 have they been this high.

Coakley Real Estate has been proud to be a part of the New and Better Cleveland. We can’t wait to see what Cleveland has to offer in 2018.

-Sandy Coakley