NEOtrans business, development, real estate, construction and market trend news from the Greater Cleveland area
It’s not a good situation when the two major commercial segments of the market — office and industrial — are both seeing sluggish times in terms of leasing activity. In fact, both sectors in Greater Cleveland saw tenants give back more space to the market than they absorbed due to some large, high-profile departures.
Read MoreCleveland Office, industrial markets dip in 2nd quarter Read More »
While NEOtrans usually doesn’t cover development news in the collar counties around Cuyahoga County, the funded expansion of Lorain County Regional Airport could have a significant impact on the urban core of Greater Cleveland. Specifically, it could provide a runway for the Federal Aviation Administration (FAA) to allow the closure of Burke Lakefront Airport in Downtown Cleveland.
Read MoreLorain County Airport may help close Burke Read More »
Improving access to a re-envisioned Downtown Cleveland lakefront by more than just driving has been a focus of the city’s lakefront master-planning process. But the details on how that could be done so far have been vague and conceptual. That will change as a result of a $960,000 federal grant awarded this week to the city.
Read MoreDowntown multimodal station gets design funds Read More »
In a request for qualifications (RFQ) issued by the city of Cleveland last week for the development of lakefront land, all but 22 acres of it has a city masterplan established for it. That 22-acre exception is the site occupied by Huntington Bank Field which the city is offering up as a blank slate for those with ideas and other wherewithal.
Read MoreSoccer interests reject lakefront stadium Read More »
During and after the COVID-19 pandemic, Sherwin-Williams (SHW) executives allowed the company’s office workers to either work from home, the office or a hybrid mix. That continued during the “Building Our Future” planning and construction of the new Downtown Cleveland headquarters and research center in suburban Brecksville. Until now.
Read MoreSherwin-Williams returning to office 100% in 2026 Read More »
Sometimes a piece of underutilized infrastructure can be revived to be a part of not only its own rebirth, but that of its surrounding area. And in return, that rebirth helps to justify the existence of the infrastructure in the first place. In this case, the infrastructure is the East 79th Street Blue/Green Line station that was considered for closure a decade ago.
Read MoreGCRTA breaks ground on new E. 79th rail station Read More »
Three days after Ohio officials approved $600 million in state funds for the Haslam Sports Group’s new stadium in suburban Cleveland, billionaires Dee and Jimmy Haslam closed on the purchase of a $25 million beachfront mansion in Florida. The two events are either a remarkable coincidence or some tone-deaf scheduling.
Read MoreHaslams buy $25M beachfront mansion in Florida Read More »
With federal permitting dragging on to allow the Port of Cleveland to build on offshore island east of downtown, the Port board yesterday awarded a $4 million contract so the port could continue to deposit sediment from the Cleveland harbor and Cuyahoga River at the northeast corner of Burke Lakefront Airport until 2029.
Read MoreCHEERS permits drag on, Port makes interim move Read More »
When sifting through the many development incentives in the state’s newly passed two-year budget, it becomes clear that a lot of Cleveland urban core projects are going to be eligible for them and potentially benefit from them. But, as we saw from a state program to aid megaprojects, a program will only benefit a region if there are projects and their sponsors in that region who will apply for them.
Read MoreCleveland developments to benefit from HB96 Read More »
The Port of Cleveland board of directors today approved bonds for five major development projects in four communities across the region — Berea, Cleveland, Lakewood and Richmond Heights. The total investment from the developments in these communities exceeds $405 million.
Read MorePort OKs financing for Berea, Cleveland, Lakewood, Richmond Hts developments Read More »
