Manufacturing Index Values

ISM Manufacturing IndexValues > 50 = Expansion
August 10, 2009
Source: Institute for Supply Management, Grubb & Ellis


The Institute for Supply Management’s purchasing managers index kept its string of monthly increases this year intact, rising to 48.9 in July. (Values above 50 indicate that the sector is expanding.) Details of the report were encouraging. New orders rose above 50 even as businesses continued to liquidate excess inventories, suggesting that manufacturers will need to ramp up hiring and production in the near term. The gap between new orders and inventories is at its highest level since April 2004. Production has already risen to 57.9, and the employment index, though still below 50, has risen to 45.6, a sign that the long slide in manufacturing job losses could be winding down. The “cash-for-clunkers” program and a recent turnaround in exports are contributing to the improvement. A recovery in the manufacturing sector is good news not only for manufacturing properties, it translates into more goods flowing through corporate supply chains, which will support demand for warehouse/distribution space.

Vox Mobile expands and signs lease

Vox Mobile, one of the premier wireless service companies in the US announced its recent expansion into new space in Valley View last week.

Vox Mobile, a spinoff of MCPC of Strongsville, formerly occupied space in the CAMP building on 25th and Superior. Due to fantastic growth, Vox required more than double their current space. A company of less than 5 employees three years ago, Vox has taken enough space to accomodate its expected growth to upwards of 40 employees.

We were retained by Vox to assist them with their site selection and lease negotiations.

1241 Superior Avenue, Cleveland Sale

In February of this year, the Bowne Company retained our team to assist in the sale of their three story, 50,000 sf, office and warehouse building on 12th and Superior. This property had been formerly listed with a competing real estate firm, who had marketed the property for over a year.


Within less than a month of being retained by the seller, we had a signed contract to sell the property, in the depth of this recession, for $605,000 to a neighbor , Telos Systems, located less than 10 blocks away on Superior.


The buyer and the buyer's broker were not aware that the building had been listed prior to our involvement and were close to purchasing another building for more money and less square feet. They had found our building on line, where it had not been posted previously.

The transaction closed on July 29, 2009, only five months after receiving the listing.


For more information on the building,


www.terrycoyne.com/ourproperties/detail.asp?id=217