Downtown Cleveland

NEOtrans business, development, real estate, and construction news from the Downtown Cleveland area

More hints about the future Sherwin-Williams HQ+R&D

Every few days I sift through hundreds of newly filed Cleveland Building Department records to see if something new and interesting was posted. Invariably there’s something worth noting there, like the filing yesterday by Parma-based Gazde LLC for an “ice cream/coffee shop with axe-throwing” at 5807 Detroit Ave., next to the temporarily closed Happy Dog bar.

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Downtown soccer stadium project takes a time-out

A 10,000-seat soccer stadium proposed to be built in downtown Cleveland is on hold until pandemic-hurt finances improve among backers of the project so they can acquire a site for it.

Last spring, the Ohio Department of Transportation began soliciting responses from prospective real estate brokers or auctioneers to help it dispose of at least 30 acres of land it owns immediately south of the Inner Belt section of Interstate 90 next to Ontario Street. The goal was to put the land on the market in November.

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Cleveland-area offices shrinking, growing, moving and uncertain

The real estate market is divided into four basic end-users — residential, hospitality, retail and office. Although the retail market has been shrinking for years, it is basically on hold during the pandemic with some exceptions. The hospitality market is pretty much in a coma but it will probably return healthy once it regains consciousness. Only the residential market has shown a great deal of resiliency throughout the pandemic.

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Could Cliffs’ acquisitions bring another downtown tower?

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.

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Dream Hotel development delayed more than a year

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.

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CityBlock at Tower City is back on track

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.

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Sherwin-Williams HQ height to “rival Key Tower”

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.

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