Development News

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Sherwin-Williams already spending big to put HQ at Public Square

For more than a month now, real estate professionals have been watching the activity on the Jacobs Group/Weston Group-owned parking lots, located on the west side of Public Square. When asked what they think of it, their general response is “there’s definitely something going on there.”

Why?

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Fortune 500 company to establish HQ in downtown Cleveland

**UPDATED Dec. 7, 2019**

In case you missed the major-league news, and if you rely on Cleveland local news media you probably did, but another Fortune 500 company will establish its corporate headquarters in downtown Cleveland.

Today, Cleveland-Cliffs Inc. announced it will be acquiring AK Steel Holding Corp. for $1.1 billion in an all-stock deal. In terms of revenues, the minnow just swallowed the whale. Cliffs generated about $2.12 billion in net revenue in 2018 whereas AK generated $6.08 billion.

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Cleveland Foundation acquires Midtown land for new HQ

Despite a cloud of legal action hanging over it, titles to two Midtown properties were transferred last week to the Cleveland Foundation for its proposed new headquarters. A 50,500-square-foot HQ is proposed to be the first phase of a civic and mixed-use district along both sides of Euclid Avenue and on both sides of East 66th Street led by the foundation.

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More crews working at Sherwin-Williams’ favored HQ site, but…

For the fourth straight week, work crews were laboring amid the 7.93 acres of parking lots owned by the Jacobs and Weston groups in downtown Cleveland’s Warehouse District. This is the site that sources say is Sherwin-Williams’ (SHW) favored site for building its massive new headquarters plus research and development (HQ+R&D) facilities.

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Sherwin-Williams’ HQ on Public Square? Yes. A supertall? Don’t count on it.

Public Square is a fascinating mix of old and new, small and tall buildings.
It’s oldest building is also the oldest still standing in downtown Cleveland — the Old Stone Church. It dates from 1855 although its Presbyterian congregation goes back to 1820 when locals still thought of themselves and their land as a part of Connecticut.

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Report suggests new courthouse tower and jail campus are best options

There’s a lot more data to be refined and opinions to be weighed, but a preliminary report on Cuyahoga County’s Justice Center shows that constructing a new downtown courthouse tower and a multi-acre jail campus outside of downtown might be the most beneficial and, yes, affordable option for the county.

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