Commercial Real Estate News

A brief summary of the most relevant and major commercial real estate news in Greater Cleveland

Starbucks is next chain to arrive in Ohio City

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A shift to more chain businesses is under way in Cleveland’s Ohio City neighborhood. In February, NEOtrans was first to report that Chipotle is opening a store on West 25th Street in the neighborhood’s Market District. Now, we’ve confirmed that Starbucks has leased a spot near the West Side Market and across Abbey Avenue from the Greater Cleveland Regional Transit Authority’s (GCRTA) Red Line rail station.

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Warner & Swasey redevelopment on precipice of becoming reality

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A coalition of developers from throughout the state of Ohio assembled at Cleveland City Hall Friday to discuss the transformation of the abandoned Warner & Swasey building in Midtown Cleveland. A project seven years in the making, representatives from developer Pennrose LLC’s Cincinnati office, architect Moody Nolan of Columbus and Midtown Cleveland Inc. sought schematic approval for the adaptive reuse project.

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Tick Tock Tavern leased by Sausalito On 9th owner

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A public record filed this week provided the first indication that the space which housed the Tick Tock Tavern in Cleveland’s Edgewater neighborhood has a new lease on life. The owner of Downtown Cleveland’s Sausalito on Ninth was notified by the city that his plan to start renovating the recently closed, eight-decade-old tavern was approved.

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Cleveland soccer stadium to move forward

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Cleveland Soccer Group (CSG) today announced plans to build a stadium to host men’s and women’s professional soccer games in Cleveland in 2026, with the proposed development of a new 10,000-seat South Gateway Stadium in Downtown Cleveland. This is intended to coincide with a new announcement in the coming weeks regarding Cleveland securing a new women’s pro soccer team.

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Shaker Square demolition to avail housing site

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Although the demolition of an historic retail strip in Cleveland’s Shaker Square district was on Landmarks Commission’s docket, much of the panel’s discussion focused on what might follow the demolition. Ultimately, the commission unanimously approved razing the two-structured Van Aken Plaza located at 2742-2782 Van Aken Blvd. for a landscaped greenspace — for now.

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Canon Healthcare buys Cleveland building for HQ

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Canon Healthcare USA, Inc., a subsidiary of Canon Inc., today announced its acquisition of an established building for its headquarters, adjacent to Cleveland Clinic’s main campus in Cleveland’s University Circle district. This purchase has been in the works for some time and NEOtrans had reported recent progress toward the deal earlier this month.

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