Real Estate News – Page 15

Cabinet-maker MasterBrand to move HQ to Beachwood

Ken Prendergast / December 7, 2023

A newly independent corporation with 13,600 employees company-wide in more than 20 manufacturing facilities and offices is relocating its headquarters to Greater Cleveland — specifically, Beachwood. While a 26-year-old, three-story office building at 3300 Enterprise Parkway will be its new corporate headquarters, MasterBrand’s operations center will remain in Jasper, Indiana along with a production facility and training center.

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Sherwin-Williams to move Valspar to Greater Cleveland

Ken Prendergast / December 1, 2023

Within the next few years, Sherwin-Williams reportedly intends to relocate most, if not all of Valspar’s headquarters and research jobs, or up to 700 employees, from Minneapolis to Greater Cleveland, according to a highly placed source. Global coatings giant Sherwin-Williams acquired its former rival in 2017 for $11 billion, setting off a remarkable growth trajectory for both companies. That is resulting in the construction of a Downtown Cleveland office skyscraper, the gobbling up of more existing office space downtown, a new suburban research center and the start of planning for significant additional downtown office space.

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Park Place Tech to buy Progressive’s Alpha campus

Ken Prendergast / November 30, 2023

Fast-growing Park Place Technologies, with nearly 500 employees in Greater Cleveland, has found a new, larger home after an extensive search that included expanding into a neighboring building or moving to downtown Cleveland. In fact, the property ultimately favored by the global data center and networking optimization firm matched the company’s requirements almost exactly. However, a title has yet to transfer to Park Place Technologies or any affiliates.

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Major expansion of Fairview Hospital planned

Ken Prendergast / November 29, 2023

In a significant project in Cleveland’s Kamm’s Corners neighborhood, a phased expansion of Cleveland Clinic’s Fairview Hospital, 18101 Lorain Ave., is in the works. The project is proposed to start by replacing older structures with new ones on the hospital’s North Campus. After those new structures are built, three groups of older structures on the South Campus will be demolished and their land redeveloped with future hospital facilities. The group of three structures are the seven-level Groveland Avenue parking garage, attached medical office buildings and, across Lorain Avenue at the North Campus, the Moll Cancer Pavilion.

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Canon, Cleveland Clinic form partnership

Ken Prendergast / November 27, 2023

Global imaging giant Canon Inc. and the locally based yet global Cleveland Clinic Foundation today announced their intentions to form a strategic research partnership to develop imaging and healthcare information technologies to improve patient diagnosis, care and outcomes. The announcement, initiated by Canon, publicly reveals the first tangible development in nearly a year since the company said it had created a U.S. healthcare subsidiary Canon Healthcare USA Inc. and would locate its headquarters in Greater Cleveland.

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Sherwin-Williams’ HQ2: how big?

Ken Prendergast / November 22, 2023

Just as NEOtrans was publishing breaking news Nov. 10 that Sherwin-Williams in 2024 would advance planning for the second phase of its headquarters, a trusted source responded with some remarkable data. That source provided employment data for Sherwin-Williams’ various office locations in Greater Cleveland and in Minneapolis which shows the company is dramatically expanding with new jobs that, if continued, shows the urgency in the company’s consideration of a second headquarters structure in downtown Cleveland, hereinafter referred to as HQ2. And based on that employment information and other insights, it is likely to be a significant structure or structures.

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Input sought for Watterson-Lake development

Ken Prendergast / November 20, 2023

At a recent community input meeting, a basic concept was revealed for redeveloping the former Watterson-Lake School site on Detroit Avenue, between West 74th and 75th streets in Cleveland’s Detroit-Shoreway neighborhood. The design concept, called a massing, suggested a mixed-use, mixed-income development offering 112 apartments in a five-story building set back from Detroit, 12 rental townhomes, retail and small business incubator spaces fronting Detroit, plus community and park spaces.

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CSU narrows finalists to develop Arena

Ken Prendergast / November 17, 2023

Four finalists were invited by Cleveland State University (CSU) and its development arm Euclid Avenue Development Corp. (EADC) to submit proposals to build, at minimum, a new multi-purpose arena for the university. In addition, their proposals could also include a parking garage and mixed-use district of housing and shops that were proposed as part of its $650 million campus master plan unveiled last year. The arena, parking deck and mixed-use district were all proposed to rise along Payne Avenue, just west of Interstate 90 in downtown Cleveland.

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Tremont’s Lincoln Hts apartments start

Ken Prendergast / November 17, 2023

Hidden away behind houses and trees, construction on another large development in Cleveland’s Tremont neighborhood got under way this week. And while this latest development project is largely shielded from view, it simultaneously reveals the continuing strength of Cleveland’s multi-family market as well as the comparative weakness of its for-sale housing market. That’s especially true in certain neighborhoods that, starting next year, will lose their ability to offer 100 percent property tax abatement for new, for-sale homes.

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Dix & Eaton grows, buys St. Louis PR firm

Ken Prendergast / November 15, 2023

With a new Downtown Cleveland headquarters in the works, Dix & Eaton will move into it as one of the largest, employee-owned communications companies in the United States. That change in status occurred on Nov. 1 when the 71-year-old strategic communications firm acquired Standing Partnership, a 32-year-old, St. Louis-based marketing communications consultancy. The acquisition was announced today by Dix & Eaton. Terms of the transaction between the two privately owned firms will not be disclosed.

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