A brief summary of the most relevant and major commercial real estate news in Greater Cleveland
Cleveland Clinic’s three major construction projects at its Main Campus near Cleveland’s University Circle are progressing on or close to schedule, according to a Clinic spokesperson. However, at this point, it appears that any follow-on projects at or near the Main Campus may not be happening for a while, according to two sources familiar with the Clinic’s capital planning.
Read MoreClinic’s megaprojects construction are on time Read More »
The Cleveland-Cuyahoga County Port Authority’s board of directors today approved $170 million in bond financing to fuel a series of high-impact projects, including a large redevelopment of land that contained a former Veterans Administration facility, a major manufacturing expansion, and refinancing bonds for a nonprofit school that will free up more resources for more renovations.
Read MorePort OKs $170M financing for major projects Read More »
NEOtrans has learned that one of Ohio’s oldest craft brewers is not only seeking to remain in Cleveland but is dusting off old plans to move its production facilities to Scranton Peninsula in Cleveland’s Flats. Sources familiar with the Great Lakes Brewing Company’s (GLBC) plans said that if public funding can be found to clean and prepare the vacated industrial site for redevelopment, it will likely relocate there.
Read MoreGreat Lakes Brewing revisits Scranton Peninsula move Read More »
When they sold their properties on Old River Road in Cleveland’s Flats East Bank to a developer nearly three years ago, Samsel family members had declined to answer where they would relocate their commercial supply business, Samsel Supply Company. No one else in local real estate circles seemed to know either. Turns out the reason was a simple one that few had considered — they’re not relocating. They’re closing.
Read MoreSamsel Supply to close its doors after 66 years Read More »
Cleveland’s growing demand for affordable health care and having one of the worst infant mortality rates in the country is behind a new clinic planned for Cleveland’s Clark-Fulton neighborhood. Cleveland-based Neighborhood Family Practice (NFP) is proposing to open a community health center in the newly refurbished Northern Ohio Blanket Mills at 3466 St. Rocco Ct.., just off Fulton Road.
Read MoreNew family clinic coming to Clark-Fulton Read More »
In an e-mail sent to all employees today, University Hospital Health System CEO Cliff Megerian announced that the health care provider will seek to build a new 30,000-square-foot conference and education center in Cleveland’s University Circle. The facility will be built on an underutilized green space at 11100 Euclid Ave. in front of an existing parking garage.
Read MoreUH plans Wolstein conference center on Euclid Ave. Read More »
Two years ago this month, Cleveland Neighborhood Progress (CNP) and Burten, Bell, Carr, Inc. (BBC) acquired Cleveland’s historic but faded Shaker Square mixed-use district. Today, the new owners outlined what they considered to be significant work and investment in making capital improvements to the property and carrying out a retail strategy to restore vibrancy to the square.
Read MoreShaker Square sees $4.5M in updates, more planned Read More »
Construction permit applications were filed this week with the city of Cleveland’s Building Department so contractors can start digging and installing foundations for the first phase of Bedrock’s Downtown Riverfront development. That first phase is the Cleveland Clinic/Cleveland Cavaliers Global Peak Performance Center, touted as one of the world’s largest training facilities.
Read MoreBedrock starts Downtown Riverfront phase one Read More »
After nearly eight years on the market, a small parcel at 2208-2210 Superior Viaduct at the west edge of Cleveland’s Flats District has sold to a growing stakeholder in the neighborhood. Addiction treatment center Stella Maris Inc. acquired the property and proposes to renovate an existing building on the site to expand the scope of its services. The site was twice proposed for a residential tower but neither advanced past the conceptual stage.
Read MoreStella Maris buys Flats site to expand Read More »
A successful business finds an unmet need in a market and fills it. According to Places Development founder and Managing Principal Dan Whalen, the lack of a hotel west of Downtown Cleveland to near Hopkins International Airport is just such a gap in the market. To fill that void, he is submitting plans for a new, eight-story boutique hotel at 1960 W. 26th St. in the Ohio City neighborhood.
Read MoreOhio City hotel development revealed Read More »
