ABOUT
US :: Full History
Melvin Gerspacher left the secure job at the Post Office to join
Lance & Co.’s new real estate operation. Soon after he
was asked to manage their real estate division. At about this time
he also began building homes with the help of his brothers who were
already in the building trades. His first subdivision was Orchard
Lane in Medina. He then began building in Lake Meadows off Weymouth
Rd. near the new high school.
In 1959 he started his own company, Gerspacher and Assoc., with
the financial support of Mr. Lincoln. He purchased the Miller farm
on the North side of Medina and began what is now known as Forest
Meadows. This became Medina’s finest subdivision and featured
custom designed homes with the innovative use of lakes and open
space.
Along with the construction of homes Melvin Gerspacher also built
or remodeled many commercial buildings in and around the City of
Medina. The restoration of the downtown was greatly aided by Mel.
Some of the restoration and remodeling included bringing First Federal
of Wooster to Medina and remodeling the Gensemer funeral home on
Public Square into a bank. He also remodeled the “Princess
Block”, an old theatre, into the current National City Bank
location, and was involved in the remodeling of Ziegler’s,
Magic Carpet, and the building that now houses “Cool Beans”.
He remodeled the old Miracle Mart on N. Court St a fine restaurant
and offices. Gerspacher & Assoc built Highland Square and the
Medina Buehler’s. Mel started residential sales organization
for the sale of his new homes and resale of existing homes in 1965.
He and his son James passed their brokers exam in 1969.
In 1971, James Gerspacher joined the family business after graduation
from Western Reserve law school and completion of his tour with
the US Army. James started learning the residential real estate
business from the ground up. Taking over the administrative side
of the business, James started the internal tracking of the transactions
and began assuming an increasing role in the management of the existing
four branch offices in Medina, Lodi, Hinckley and Brunswick.
The real estate operation was invited to join Gallery of Homes,
one of the first successful residential real estate franchises in
the country. The experience of meeting and working with other multi
office companies to was invaluable to the local organization’s
learning curve. Training, organizational and promotional systems
were changing quickly as the industry changed from one and two office
companies to larger regional companies. The Gerspacher organization
became a local leader in training and innovative marketing and continued
to be the largest Realtor in the Medina County area.
The Hinckley office was absorbed into a larger Brunswick office
and a Wadsworth branch was opened. With success in Medina County
came opportunities to expand in to adjacent markets. Offices were
opened in Wooster, Fairlawn and Brecksville. At its peak the organization
had over 150 agents with both a commercial and a farm sales specialists.
The commercial division of that company made the largest sale of
its day with the sale of Chippewa Lake.
In 1979, the real estate division of the Gerspacher Companies was
split off from the Development and Construction divisions. James
acquired the new entity and continued as the President of Gerspacher
Realty. When the real estate market ran into the double- digit interest
rates of the early eighties, the market became the survival of the
fittest. Unfortunately the new company did not have the capital
reserves to maintain its newly opened offices. As the worst market
in recent history took it’s toll, some offices were closed
the remainder were sold to Coldwell Banker. In this package deal,
James was selected to become the Regional Manager and Operating
Officer for the newly formed Cleveland Akron Coldwell Banker residential
operation.
Coldwell Banker had been acquiring major residential real estate
companies all over the country, but when they were unable to acquire
one of the two dominant companies in the Cleveland Akron area, they
chose to do their very first scratch start. James led that effort
and opened 21 offices for the organization, including the remaining
Gerspacher offices.
After four years with Coldwell Banker, the local division had grown
to over 400 agents and 10% of the market.
Missing the personal rewards of being an entrepreneur and the one
on one customer relationships, James opted to transition to a role
with Spalding & Assoc. as a VP of commercial real estate sales.
Finding success and personal satisfaction, James was encouraged
to open his own commercial sales office back in Medina. In the fall
of 1992 he opened Gerspacher Real Estate Group, Inc., specializing
in Commercial and Industrial Properties, both leasing & sales,
in Medina County.
Since that date, James Gerspacher Real Estate has become the dominant
commercial real estate broker in Medina County. Along with establishing
himself as the local expert, James became deeply involved in the
community.
In addition James Gerspacher has joined and lead several non-profit
groups including:
- Medina County Alcohol, Drug Addiction, Mental Health Board
- Member & Past President Medina Area Chamber of Commerce
- Director of Medina County Land Conservancy
- Director of Medina County United Way Agency Chairman, United
Way
James has spearheaded many economic development efforts on the
City and County level.
- Past Chairman of Medina City Economic Development Board
- Director & Secretary of Medina Economic Development Board
- Chairman of Medina County fiber Optic Task Force Secretary
- Medina Co. Port Authority
The Medina County Board of Realtors has recognized him three times
as Realtor/Broker of the Year. He is ready to handle your Commercial
& Industrial Real Estate Needs, or Investment Goals.
In 1996 Randy Arehart joined the firm, specializing in the Retail/Office
market, his past experience as owner and operator of Champion Sporting
Goods, and Manufacturers Rep. enables him to understand the challenges
of the Retail/Office on a much greater level. Randy is active in
the community as Board Member of the Brunswick Chamber of Commerce
& Committee Chairman of the Medina Area Chamber of Commerce.
In 2004 James' nephew Troy Gerspacher expressed interest in the commercial
real estate field. Troy, looking for entrepreneurial opportunity,
became the third generation in the real estate business by joining
the firm after seven successful years in staffing sales with the Areotek
Company. Troy’s energy and enthusiasm have gained him not only
respect and admiration in the community, but also a strong client
basis and respect of his peers.
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