Downtown Cleveland’s ‘office market needs help’

1 Comment / By Ken Prendergast / October 7, 2022 October 16, 2022

This week, global real estate brokerage Newmark released its third quarter office market report for Greater Cleveland and the news wasn’t good, especially for downtown Cleveland. While three of five submarkets in the metropolitan area saw declining occupancies of office spaces in July-September, none suffered a greater loss than the central business district. That district includes everything from Ohio City east through Downtown to Midtown.

Is UC becoming Greater Cleveland’s top jobs hub?

By Ken Prendergast / September 20, 2022 October 15, 2022

For the first time in 200 years, Downtown Cleveland is at risk of losing its position as the region’s top employment hub. And in so doing, it would also no longer be Ohio’s top job hub, too. Downtown Cleveland has held the region’s top ranking since the days before the Ohio Canal opened for business in 1832, making downtown Cleveland the state’s reigning economic powerhouse.

Ukrainian refugees seek, offer hope

By Ken Prendergast / August 22, 2022 August 26, 2022

While NEOtrans normally covers real estate developments and other business activities in Greater Cleveland, we also occasionally cover economic trends. Those trends, such as the city of Cleveland and Cuyahoga County adding more working-age population and creating more jobs than many Sunbelt economic powerhouses, also drive business growth and real estate development.

Buckeye neighborhood plan sets goals

By Ken Prendergast / August 19, 2022 August 12, 2022

“That neighborhood has good bones” is often said about an inner-city community as its leaders look for foundations in the area to aid its comeback. Unfortunately, it is not always true the bones are good or if they even exist. But for Cleveland’s Buckeye neighborhood, located on the city’s southeast side, it has a number of features in it or nearby that can be considered good bones on which muscles can be enhanced to regain lost strength.

Downtown construction boom looms

By Ken Prendergast / July 6, 2022 July 10, 2022

Are you ready for some construction cranes, Cleveland? No, I’m not talking about the tower cranes that will rise next month above Sherwin-Williams’ new HQ west of Public Square or the crane soon to arrive over the City Club Apartments on Euclid Avenue. Those may be just the tip of the iceberg for downtown.

Cleveland looks steady in new office market data

By Ken Prendergast / June 25, 2022 June 28, 2022

Contrary to the narrative that office markets nationally and especially in Greater Cleveland are dead, two new reports show they are very much alive. And while they’re not fully recovered from the pandemic and remote working, some office markets including Cleveland’s have shown surprising resilience.

ODOT Inner Belt plan gets city pushback

By Ken Prendergast / March 19, 2022 March 24, 2022

Yesterday, Cleveland’s City Planning Commission unanimously tabled a request by the Ohio Department of Transportation (ODOT) for consent to construct improvements to the Central Interchange, where Interstate 77 ends and connects with Interstate 90 in downtown Cleveland.

Downtown lakefront development may depend on removing the Shoreway

2 Comments / By Ken Prendergast / January 26, 2022 January 27, 2022

The fate of lakefront development in Cleveland appears to depend on whether local, regional and state policymakers want more traffic and for it to pass through downtown quickly or to have less traffic and for it to travel into the central business district more slowly.

There’s much to look forward to in 2022

4 Comments / By Ken Prendergast / January 5, 2022 January 20, 2022

If you thought 2021 was busy real estate-wise, there is every indication that 2022 is going to be even busier. How busy? Take a look….

The 20 most-viewed news stories of 2021 on NEOtrans

By Ken Prendergast / December 28, 2021 December 29, 2021

Personal experiences matter. That’s the lesson of why one news article gets opened and another article does not. It’s why the pending demolition of the Cleveland Play House was the most-read story of 2021. It got read because people went to see a show there once upon a time, not because it was the only Cleveland-area project designed by a Cleveland-area architect.

Economic trends