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Cleveland Proposes $2B Lakefront Development

Cleveland Proposes $2B Lakefront Development

By Adrian Maties, Associate Editor On Monday, Nov. 14, Mayor Frank Jackson unveiled plans for a development on Cleveland’s waterfront. It covers 90 acres, stretching east from the Port of Cleveland’s cargo docks past Cleveland Browns Stadium and the East 9th [...]…

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Cleveland State University Breaks Ground on $50M Project

Cleveland State University Breaks Ground on $50M Project

By Adrian Maties, Associate Editor Cleveland State University broke ground on Nov. 9 on a $50 million mixed-use project, the city’s largest residential development in more than 30 years. Polaris Real Estate Equities and Buckingham Cos. are co-developers. The groundbreaking ceremony was [...]…

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BentleyForbes Puts $98M Ohio Portfolio up for Sale

BentleyForbes Puts $98M Ohio Portfolio up for Sale

By Adrian Maties, Associate Editor BentleyForbes, a real estate investment firm based in California, has put three Ohio office buildings up for sale, all leased to Medical Mutual, Ohio’s oldest and largest health insurer. The properties are listed at $98 million [...]…

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KUD Joins UPA for 50-Block Urban Project in Ohio

KUD Joins UPA for 50-Block Urban Project in Ohio

By Adrian Maties, Associate Editor Last month, the University Park Alliance, a non-profit community development corporation, signed a master services agreement with internationally recognized real estate developer KUD International L.L.C. that will move forward significant change for the city’s downtown area. UPA, [...]…

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Uptown Project Attracts Retail, Restaurants to University Circle

Uptown Project Attracts Retail, Restaurants to University Circle

By Adrian Maties, Associate Editor Though months from opening, the Uptown Project in Cleveland’s University Circle is fast running out of retail room. Already, 95 percent of the ground-floor space in two apartment buildings has been filled by local and national [...]…

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JV Plans $64M Makeover of Cleveland’s Crowne Plaza

JV Plans $64M Makeover of Cleveland’s Crowne Plaza

By Adrian Maties, Associate Editor Optima Ventures and Sage Hospitality partnered to buy downtown Cleveland’s second-largest hotel, The Crowne Plaza Cleveland City Center. The joint venture paid $9 million cash for the 472-room hotel and parking garage, and plans to invest [...]…

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Foreign Investors to Help Build New American Greetings HQ

Foreign Investors to Help Build New American Greetings HQ

By Adrian Maties, Associate Editor American Greetings Corp. has struck a deal with the Cleveland International Fund to finance its planned new world headquarters. Announced in May, the facility, to be constructed in Crocker Park, will house more than 1,000 jobs and [...]…

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HeartLab Signs New Lease in Midtown’s Health-Tech Corridor

HeartLab Signs New Lease in Midtown’s Health-Tech Corridor

By Adrian Maties, Associate Editor HeartLab, a leading specialty clinical laboratory and disease management company, has signed a 10-year lease for 27,000 square feet at the MidTown Tech Park. The new building, located in Cleveland’s emerging Health-Tech Corridor, was constructed to attract [...]…

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Cleveland’s Historic Arcade Fails to Attract Bidders

Cleveland’s Historic Arcade Fails to Attract Bidders

By Adrian Maties, Associate Editor The historic Arcade building in downtown Cleveland hit the auction block last week, after a two-year foreclosure process. Despite the property’s $7.7 million price tag, it failed to attract a single bid. The landmark property includes a 293-room [...]…

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Cuyahoga County Land Bank Rebuilds Neighborhoods, Thanks to New Financing Sources

Cuyahoga County Land Bank Rebuilds Neighborhoods, Thanks to New Financing Sources

By Adrian Maties, Associate Editor On Aug. 29, the Cuyahoga County Land Reutilization Corporation, also known as the Cuyahoga County Land Bank, received approval to change its source of funding. The land bank works with cities, lenders, government units or individual property owners, [...]…

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Nestlé Plans Expansion at L.J. Minor Manufacturing Plant

Nestlé Plans Expansion at L.J. Minor Manufacturing Plant

By Adrian Maties, Associate Editor Global food giant Nestlé broke ground Aug. 18 on a $20 million-plus, two-story, 75,000-square-foot expansion of its longtime L.J. Minor manufacturing plant in Cleveland. The Swiss food icon is also planning a major research-and-development facility in [...]…

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New Rehabilitation Hospital to Open in Beachwood

New Rehabilitation Hospital to Open in Beachwood

By Adrian Maties, Associate Editor University Hospitals and Nashville-based Centerre Healthcare Corp. announced a joint venture to construct a freestanding in-patient rehabilitation hospital in the Cleveland suburb of Beachwood. The 50,000-square-foot, 40-bed facility will cost $17 million to construct. It will be [...]…

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