CRESCO Real Estate

What CRESCO Real Estate does

CRESCO Real Estate is a Cleveland-headquartered commercial real estate brokerage firm operating as part of the Cushman & Wakefield Alliance, a global network of more than 51,000 real estate professionals. Founded in 1991, the firm serves Northeast Ohio markets including Cleveland, Akron-Canton, Youngstown, and Toledo, providing full-service brokerage across office, industrial, retail, land, medical office, and investment property segments. In addition to brokerage, CRESCO delivers property management, receivership, tenant representation, and corporate real estate advisory services, and publishes quarterly Cleveland Office and Industrial MarketBeat research reports.

The firm generates revenue primarily through commission-based earnings on sales, leasing, and tenant representation transactions, supplemented by recurring property management fees. Its customer base spans enterprise accounts across at least nine industries, including healthcare (Cleveland Clinic, University Hospitals), automotive (Dealer Tire), technology (Microsoft), hospitality (Intercontinental Hotel Group), manufacturing (Nidec Industrial Solutions, Consolidated Precision Products), packaging (ePac Flexible Packaging), wholesale (K&K Interiors), and real estate investment (Shelbourne, Somera Road). Notable transactions include the $39 million sale of 1 & 2 Chagrin Highlands and the $38.5 million Terminal Tower sale.

CRESCO's leadership includes co-founder Joe Barna (SIOR, 2024 NAIOP Northern Ohio Lifetime Achievement Award recipient), Principal Rico A. Pietro (SIOR, 20-year veteran and Chair of the Investment Division), and Vice President David Leb (CCIM, who has closed more than 400 transactions totaling over $400 million in volume). The firm has earned 13 consecutive years of CoStar Power Broker recognition across leasing, sales, and individual broker categories, and operates through an enterprise field-sales go-to-market model targeting property buyers, sellers, tenants, and investors in Northeast Ohio.

Name

CRESCO Real Estate

Legal name

CRESCO Real Estate

Website

https://crescorealestate.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

51–100 employees

Short description

CRESCO Real Estate is a Cleveland-based commercial real estate brokerage firm operating as part of the Cushman & Wakefield Alliance, providing full-service brokerage, property management, tenant representation, and investment advisory across office, industrial, retail, and land sectors in Northeast Ohio.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Brokerage Services

NAICS

Offices of Real Estate Agents and Brokers (53121), Nonresidential Property Managers (531312), Real Estate Property Managers (53131)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Special Purpose & Alternative Asset Brokerage (BPAJABAH)

akta.pro secondary industry

Commercial Real Estate Asset Management (BPAJAMAB)

Keywords

• Commercial real estate brokerage
• Commercial property leasing
• Commercial property sales
• Property management services
• Tenant representation

Headquarters

HQ city

Cleveland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure

Revenue model

1. Commercial Real Estate Brokerage Commissions: The firm earns commission-based revenue from buying, selling, and leasing commercial properties. Brokers represent buyers and sellers in transactions for office, industrial, retail, and land properties, earning percentage-based commissions on completed deals.
2. Property Management Services: Ongoing property management services for commercial properties under management, providing recurring revenue from portfolio of managed properties.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

CRESCO Real Estate is a Cleveland-based commercial real estate brokerage operating as part of the Cushman & Wakefield Alliance. The firm provides sale, leasing, tenant representation, investment sales, and property management services for office, industrial, retail, medical office, and land properties across Northeast Ohio. Its brokers earn transaction-based commissions on completed deals and earn recurring fees from managed property portfolios.

Product overview

Cushman & Wakefield | CRESCO Real Estate is a commercial real estate brokerage firm operating as part of the Cushman & Wakefield Alliance. The company offers a comprehensive suite of real estate services organized around property types and client needs, including Office Space, Industrial Property, Retail Space, Land for Sale, Medical Office Space, Tenant Representation, Investment Property, Property Management, and Receivership services. The firm also provides MarketBeat research reports for office and industrial markets. These services are delivered through their team of brokers and are focused on the Greater Cleveland/Northeast Ohio market.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Sold One & Two Chagrin Highlands (224,133 SF Class A office) at asking price with no concessions, setting new 'high water mark' for multi-tenant office space in Cuyahoga County
• +2 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles6 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered supporting and core.

• Cuyahoga County Land BanksupportingStrategic or Co-development Partner · 1 January 2009CRESCO believes land banks are important partners in commercial property redevelopment. The firm has collaborated with Cuyahoga County Land Bank which strategically acquires properties, rehabilitates them, and returns them to productive use for future sale or development.
• Cushman & Wakefield AlliancecoreStrategic or Co-development PartnerCRESCO Real Estate operates as part of the Cushman & Wakefield Alliance, which provides access to Cushman & Wakefield's global platform of 51,000+ real estate professionals worldwide. This alliance enhances the firm's ability to serve clients with broader global presence while maintaining local market expertise in Northeast Ohio.
• JobsOhiosupportingStrategic or Co-development PartnerState economic development organization that worked with CRESCO brokers to secure tax abatements, credits, and grants for Nidec Industrial Solutions' relocation to Brooklyn Heights, Ohio.
• Greater Cleveland PartnershipsupportingStrategic or Co-development PartnerRegional economic development organization collaborated with CRESCO to attract and retain businesses in Northeast Ohio, supporting transactions like Nidec's headquarters development.
• State of OhiosupportingStrategic or Co-development PartnerState government worked with CRESCO brokers to secure economic incentives including tax abatements, credits, and grants for business expansion projects.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• CBRE Group (Cleveland): Global commercial real estate services firm with a Cleveland office providing brokerage, property management, valuation, and advisory services across office, industrial, and retail. Directly competes with CRESCO for the same Northeast Ohio institutional and corporate clients; notably, CRESCO SVP Jason Laver is a CBRE alumnus.
• Avison Young (Cleveland): Global commercial real estate services firm with a Cleveland office, providing brokerage, property management, and advisory across all major asset classes. Direct competitor for office, industrial, and investment property mandates in the Cleveland MSA.
• Marcus & Millichap: National investment real estate brokerage focused on the sale of commercial properties, including multifamily, retail, office, and industrial assets. Competes with CRESCO's Investment Sales Division for capital markets mandates in Ohio.
• Newmark Group (Cleveland): Commercial real estate investment sales and advisory firm with a Cleveland office, active in office, industrial, and investment property transactions across Ohio. Competes with CRESCO on investment sales mandates as the firm has built out its own investment sales capability.
• NAI Global (Ohio affiliates): Global CRE services network with Ohio-based affiliate brokerages that compete for the same office, industrial, retail, and investment mandates in Northeast Ohio. CRESCO brokers regularly win and are nominated for the same NAIOP Northern Ohio awards as NAI affiliates.
• JLL (Cleveland): Global real estate services firm operating in Cleveland, providing leasing, investment sales, property management, and tenant representation. Direct competitor for the same enterprise accounts (e.g., Microsoft, large healthcare systems) that CRESCO serves.
• SVN (Commercial Realty): Franchised commercial real estate brokerage network with Ohio affiliates offering sales, leasing, and investment services. Competes with CRESCO for middle-market and investor clients in the same Northeast Ohio submarkets.
• Colliers International (Cleveland): Global CRE services firm with a Cleveland presence offering similar brokerage, property management, and investment sales services. Competes head-to-head for office, industrial, and retail mandates in the same Northeast Ohio submarkets served by CRESCO.

Broad incumbents

• Cushman & Wakefield (corporate): Global CRE services parent of the Alliance under which CRESCO operates. Provides the same brokerage, valuation, and property management services through wholly-owned offices in major markets and is the brand CRESCO carries into client engagements.

Regional players

• Howard Hanna Commercial: Regional real estate services firm based in the Midwest with a commercial division active in Northeast Ohio. Competes with CRESCO on local office, retail, and investment assignments, though Howard Hanna is more dominant in residential.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks1 record

Key highlights7 records

Customer concentration

• Facebookfacebook.com/CRESCORealEstate
• LinkedInlinkedin.com/company/cresco-real-estate
• Instagraminstagram.com/crescorealestate
• Xx.com/cresco_re

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CRESCO Real Estate