Commercial Real Estate News

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

Glenville-Collinwood site may finally get new life

It’s a factory name that conjures thoughts from classic Road Runner cartoons. But few are laughing from the enduring health and economic burdens that the long-closed National Acme plant, 170 E. 131st St., is having on Cleveland’s East Glenville and Collinwood residents. Once one of Cleveland’s largest blue collar employers, its fate is similar to that of other aging industrial properties across the city.

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Elections board to the ex-Plain Dealer building?

While not as controversial or as impactful as the county’s pending moves of its consolidated jail or courthouse facilities, the new site of the Cuyahoga County Board of Elections (BOE) could boost its new surroundings. With up to 200 permanent employees, hundreds more at election time and many more visitors for early voting, the positive and negative impacts on the BOE’s new surroundings could be significant.

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Browns continue to add land in Berea

Property acquisitions in the Cleveland suburb of Berea appear to be nearly wrapped up for a large, mixed-use development featuring an expanded headquarters for the Cleveland Browns and its ownership, the Haslam Sports Group. Only one or two homes need to be acquired to make way for a new headquarters office building, the professional football team’s practice facility, hotel, shops, restaurants and community recreation facilities, first reported by NEOtrans.

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Royal Docks Brewing comes to Cleveland

In a couple of months, Stark County-based brewpub chain Royal Docks Brewing Company plans to expand to Cleveland by opening a location in Ohio City’s booming Hingetown neighborhood. Ohio City is a community with a half-dozen brewpubs already in operation. But with their planned Royal Docks Tied House + Kitchen, the proprietors are confident they can offer something the others don’t.

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Jones Day’s downtown offices on the move?

Aside from a few rarities like Sherwin-Williams, not many corporate citizens stay in one office building for multiple decades. They are constantly growing or shrinking, their buildings get new owners, their corporate culture changes, or their biggest clients move. Another rarity is Cleveland’s largest law firm, Jones Day, which is entering its fourth decade in the same building, 901 Lakeside Ave., called North Point I.

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First look: new 3-story restaurant-speakeasy downtown

Although the names and themes were previously announced, designs for a new French-themed restaurant and speakeasy in Downtown Cleveland were made publicly available for the first time yesterday. They show a well-appointed establishment with a construction budget to match. The hospitality offerings are due to open later this year at the new 23-story City Club Apartments, 776 Euclid Ave., to offer Clevelanders more le plaisir.

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Downtown office tower bucks residential trend

Since actions speak louder than words, the rumors of the 22-story office tower 1100 Superior Ave. turning residential are getting shouted down. The louder message is coming from the building’s owner who is re-signing existing office tenants and attracting new ones, despite recent tenant losses and other hardships. The actions are likely the result of a short-term strategy resulting in another sale, however.

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CLE Consulting Firm leaving Downtown for MidTown

CLE Consulting Firm, a growing provider of business accounting and tax services, has reached a purchase agreement to acquire the Euclid Gallery Building, 7029 Euclid Ave. in Cleveland’s MidTown neighborhood, public records show. The faded masonry building will reportedly be renovated as the new headquarters for the company which also has offices in Akron, Cincinnati, Columbus, Toledo and Atlanta.

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Cleveland’s Select Medical Fairhill Hospital to see major rehab

Just uphill from the Cleveland Clinic’s main campus, Select Medical Fairhill Hospital is seeking a significant renovation and partial conversion of its recovery-care hospital to provide rehabilitation services. The fate of this facility was unknown after Select Medical recently closed another facility near Downtown Cleveland.

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