Oswald Companies today announced that it has entered into a lease agreement to move its headquarters to a larger space at the former Ernst & Young tower on the East Bank of the Flats, a prominent fixture on the downtown skyline. Once all necessary approvals are received, the move will be completed in 2024 and plans include a name change to Oswald Tower.
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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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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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The bad news is that a Downtown Cleveland employer has reduced its office footprint. The good news is the company, BrandMuscle, a mid-sized marketing technology firm, opened a new office yesterday downtown. The better news is that BrandMuscle kept Cleveland as one of its two remaining office hubs along with Chicago, while closing other offices in Austin, TX and Kansas City, MO after switching to a largely remote-work culture.
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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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U.S. Senator Sherrod Brown announced today that the U.S. Department of Transportation’s Federal Railroad Administration (FRA) has selected four key routes in Ohio as priorities for Amtrak expansion and directed $500,000 to draw up construction-ready plans for each. Once those plans are finalized, then those routes would be eligible to apply for federal construction funding.
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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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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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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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The largest planned, single development in a century is proposed for Cleveland’s Hough neighborhood by reutilizing the huge site of the closed Martin Luther King Jr. High School, 1651 E. 71st St. On that 11-acre property bounded by Hough and Lexington avenues plus East 71st and 73rd streets, 310 housing units and two divisible commercial spaces are planned as part of a neighborhood destination.
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