Flats East Bank

Samsel Supply to close its doors after 66 years

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When they sold their properties on Old River Road in Cleveland’s Flats East Bank to a developer nearly three years ago, Samsel family members had declined to answer where they would relocate their commercial supply business, Samsel Supply Company. No one else in local real estate circles seemed to know either. Turns out the reason was a simple one that few had considered — they’re not relocating. They’re closing.

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Jones Day’s downtown offices on the move?

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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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Cleveland development: what to look for in 2024 — Downtown

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For many in the real estate investment community, 2023 was the year when few new big projects were financed. The projects that were already financed under better, prior market conditions saw their construction advance, making the real estate landscape appear rosier than it really was. Now, however, as we enter 2024, there is a light at the end of the tunnel with developers already reviving or making new plans.

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Odeon, 3 other Flats parcels sold to developer

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The Odeon concert club, 1295 Old River Rd., was among four contiguous parcels on Cleveland’s Flats East Bank that were sold last week to Cleveland-based GBX Group, a real estate development financier which specializes in structuring financing for historic rehabilitation projects. However, when contacted by NEOtrans, a GBX representative said their plans for the site would not be officially announced for at least two months.

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