News Category – Page 77

Could Cliffs’ acquisitions bring another downtown tower?

Ken Prendergast / October 4, 2020

When you look at several critical aspects behind Cleveland-Cliffs Inc.’s recent acquisitions of AK Steel and ArcelorMittal USA, you can see how it’s possible, if not probable, that Cliffs won’t be a tenant of 200 Public Square for much longer.

The critical aspects behind the acquisitions include the post-assimilation staffing needs of the combined company measured against the office space vacancies in Cliffs’ headquarters building. The data for populating this equation were gathered from online sources and by interviewing Cliffs staffpersons, real estate brokers and others familiar with Cliffs and its acquired companies.

Could Cliffs’ acquisitions bring another downtown tower? Read More »

Dream Hotel development delayed more than a year

1 Comment / Ken Prendergast / September 30, 2020

Given the current state of the pandemic-ravaged hospitality industry, it probably shouldn’t come as a surprise that the proposed 19-story Dream Hotel next to the Masonic Temple in Cleveland’s Midtown has been delayed.

According to the construction database The Dodge Reports, the delay will be more than one year. The site reported that design work on the hotel will be on hold until Summer 2021. That means the earliest construction could start would be Summer 2022, it said. Last spring, officials at New York-based Dream Hotels hoped to start construction in early 2021.

Dream Hotel development delayed more than a year Read More »

Seeds & Sprouts XI – Early intel on real estate projects

Ken Prendergast / September 29, 2020

This is the Eleventh edition of Seeds & Sprouts – Early intelligence on Cleveland-area real estate projects. Because these projects are very early in their process of development or just a long-range plan, a lot can and probably will change their final shape, use and outcome.

Seeds & Sprouts XI – Early intel on real estate projects Read More »

CityBlock at Tower City is back on track

Ken Prendergast / September 27, 2020

Bedrock Real Estate Services’ planned remake of The Avenue shopping mall at Tower City Center into an entrepreneurship hub is showing signs of life again.

Chatter surrounding the proposed $110 million redevelopment of the 350,000-square-foot downtown Cleveland retail center had gone silent since last winter, and the global COVID-19 pandemic wasn’t the primary reason why.

CityBlock at Tower City is back on track Read More »

Sherwin-Williams HQ height to “rival Key Tower”

Ken Prendergast / September 25, 2020

For those who wanted another skyscraper in Cleveland that approaches “supertall” status, you just might get your wish.

Ten days ago, Sherwin-Williams Co. (SHW) announced it is restarting development of its global headquarters plus research and development facilities (HQ+R&D). As part of its announcement, SHW confirmed insider information NEOtrans has been reporting for nearly a year, including SHW’s HQ+R&D construction manager is a new partnership called Welty Gilbane. It was formed last year by Welty-Testa Builders, LLC of Akron and the Gilbane Building Co., a global firm with offices in Cleveland.

Sherwin-Williams HQ height to “rival Key Tower” Read More »

Lakewood reaches settlement with hospital site developer

1 Comment / Ken Prendergast / September 24, 2020

According to a statement released today by the City of Lakewood, the city has reached a settlement agreement with Carnegie Management and Development Corp. of Westlake regarding the redevelopment of the former Lakewood Hospital site. The settlement resulted from the early termination of an agreement between the two parties before construction began.

Lakewood reaches settlement with hospital site developer Read More »

Why does Circle Square get love and nuCLEus doesn’t?

Ken Prendergast / September 23, 2020

Two births were noted in 2014. Ideas for a pair of major urban core real estate developments in Cleveland — nuCLEus and Circle Square — were set into motion, leading to much excitement and debate by everyone from urbanistas to media to fellow developers to elected officials.

Since those births six years ago, neither project has turned a shovel of dirt for new construction. Yet nuCLEus gets publicly criticized and doubted while Circle Square doesn’t. Is that fair? Let’s take a look at that….

Why does Circle Square get love and nuCLEus doesn’t? Read More »

Two new Lakewood developments proposed

Ken Prendergast / September 21, 2020

Two recent property acquisitions are the first signs indicating that a pair of proposed new Lakewood developments may be on the horizon. Both properties are located on the city’s primary business corridors on the east end of Lakewood.

Two new Lakewood developments proposed Read More »

Biotech firm Abeona to expand Cleveland production facilities

Ken Prendergast / September 18, 2020

A young, growing biotechnology company is expanding its presence again in Cleveland. Abeona Therapeutics LLC is adding to its production facilities by leasing and modifying 12,000 square feet at the MidTown Tech Park Building No. 1, 6700 Euclid Ave.

That brings the publicly traded company’s (Nasdaq: ABEO) Cleveland presence to 38,000 square feet. It currently has 65 employees in Cleveland — more than triple the employment the firm had here just three years ago. Abeona is a clinical stage company developing gene therapy and plasma-based therapies for severe and life-threatening rare genetic diseases.

Biotech firm Abeona to expand Cleveland production facilities Read More »

Sherwin-William HQ+R&D project restarts; development team announced

Ken Prendergast / September 15, 2020

UPDATED WITH PRESS RELEASE INFO

Reports are coming out today that Sherwin-Williams (SHW) has restarted the development of its global headquarters plus research and development facilities (HQ+R&D). But the months-long pause has pushed back the project’s completion from 2023 to 2024. The reason is the global pandemic and the economic disruption that it is causing.

Sherwin-William HQ+R&D project restarts; development team announced Read More »