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Merry Christmas and happy holidays to you and yours from NEOtrans.
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Cleveland Suburbs
NEOtrans business, development, real estate, construction and market trend news about Cleveland Suburbs
Great Lakes Brewing move to Avon on tap?
A Cleveland icon may not be in Cleveland much longer. Executives and owners of Great Lakes Brewing Company (GLBC) are debating a significant relocation of most of its operations out to west-suburban Avon in Lorain County. The 200-employee company has been headquartered and its beer products brewed in Cleveland’s Ohio City neighborhood since its founding 35 years ago. But Avon’s mayor said an announcement may be made about the potential new site “in the coming months.”
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Record Rendezvous building among historic renovation awards
An historic building in Downtown Cleveland that housed Record Rendezvous, where the term “rock and roll” was reportedly first used to describe the genre, was awarded tax credits to aid in its restoration. It was among dozens of historic buildings across the state that were awarded credits today by the Ohio Department of Development.
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Cuyahoga County’s economy surges
In the spirit of Oscar Wilde, one could say that a year’s worth of economic output data might be considered a curiosity. But multiple years may be considered a trend. Last year, the growth of Cuyahoga County’s gross domestic product (GDP) ranked 10th among Ohio’s 88 counties and was the best performer among Ohio’s most populous, urbanized counties. according to new data released last week by the U.S. Bureau of Economic Analysis.
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Cuyahoga County OK’s first microgrid utility in USA
This week, Cuyahoga County has launched the first microgrid electrical utility in the United States. Cuyahoga Green Energy (CGE) has contracted with Compass Energy Platform to serve as the operator for the county-run utility.
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Cabinet-maker MasterBrand to move HQ to Beachwood
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
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
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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Next round of Brownfield grants starts Dec. 5
Several things have long slowed Cleveland’s post-industrial transition to embrace new economic drivers. One of the biggest is the lack of large, clean properties near existing labor. The city recently announced a $50 million land assembly program that could be boosted to $100 million with other funding. While some of that funding could come from the private sector, another source may well come from a new round of state funding to aid redevelopment, announced today.
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Nela Park may add residential
Many Greater Clevelanders have at least some familiarity with a place that could soon become home to many Greater Clevelanders. The owner of the former General Electric Lighting headquarters, 1975 Noble Rd. in East Cleveland, is preparing plans to convert several office buildings within the 94-acre Nela Park Campus into apartments and make those intentions known at a meeting of local stakeholders, possibly as early as this month, according to a source familiar with the project.
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