RE Developer In Training

Beautiful HQ for the newly anointed Dow 30 stock. Just needs a twin next door.

Looks like we'll have another vacant car dealership coming to market... email from Ganley Ford West (on Lorain). We are excited to announce that Ken Ganley Ford has purchased Bob Gillingham Ford and will be moving our dealership to their location. Same great people. Same great service. New Location! AS OF FEBRUARY 15TH, FIND US AT Ken Ganley Ford 8383 Brookpark Road, Parma, OH 44129

I've heard that Centennial was a longshot from the beginning. If Frank couldn't get this to pencil out with rock bottom rates, TMUD, historic tax credits, and LIHTC, how will it get done now? Millennia got too big too fast and the bills are coming due. They're selling portfolios and playing hard ball with former employees they owe money to. I sure hope I am proved wrong!

Us taxpayers got fleeced on this one, no question about it. George's get richer, the local government gets weaker.

That last photo really gives off the "Big City Vibez"... let's keep it goin!

That whole plaza recently changed hands to an affiliate of a well established local homebuilder. Will be curious to see how their plans may evolve as the larger master plan develops.

Not going to disagree, but they obviously need to incorporate a mix of uses to make it financially viable.

Was in Terminal Tower this week and got a nice shot. So much bigger in real life.

I saw on Scene today that Karl's Inn at the Barristers is closing soon for good and that they are the last tenants in the building. Any insights on what's going on here? Any relation to that prior Magellan or other named project for this site?

Hopefully this is just the start of the city being more efficient with our tax dollars. It can be done!

I wonder if this changes the capacity at all? I would think if anything, it would increase with these changes.

I don't have access, but saw this pop up on social media: https://www.crainscleveland.com/real-estate/developer-buys-premium-metals-site-clevelands-west-side Who's the buyer? I know several have attempted to buy in the past.

I wonder if Cliffs, who already partners with the Cavs could partner up on the office component. Just so happens news of the ArcelorMittal building in Richfield being sold dropped today also. And perhaps that was the push Bedrock needed to pull the trigger. Total speculation, but dreamers can dream.

While it's nice to see new ownership, it's not unusual for GBX to buy and sit on a property for several years before doing any redevelopment. Hopefully this isn't one of those cases and they get to work on this soon!

I wonder what City Club moving out of their building next door means for that building? Would be nice to see that one get an upgrade.

Is this the project today's crain's article is referencing regarding for-sale condos by MRN? I didn't realize there would be some condos included in this project. That's excellent to hear if that's the case.

That place will make a killing. Already putting it on the list for client and company events.

I know this isn't very urban, but it looks like there's a Rocky River project brewing. Not a KJP bomb by any means, but thought I would share. On Center Ridge, in between a couple of condo buildings, there's an old house owned by the Christensen family (on 1.7 acres) that's always seemed out of place. The Christensen family previously owned (I believe) all the land that the now Christensen and West River Estates - 300+ SF homes sit on, including mine. Next to it is a big patch of trees on 1.6 acres. I always thought this would be a nice development opportunity. For over a year now, I've seen several surveys being done but nothing else so I didn't think much of it. That was until last week, when that whole patch of trees were suddenly cleared out. I immediately jumped onto MyPlace to see who owns that parcel. Not to my surprise, the parcel with trees was purchased by The Krueger Group in 2020 for 465k. My guess is, since then, they've been after the Christensen parcel, whom appeared to be holding out as long as possible. My guess was right. In early February, the parcel transferred to Center Ridge Development LLC for $575k. It didn't take long to trace that LLC to The Krueger Group. Anyone have any idea what Krueger is planning or what the scale of a MF building could look like on a parcel of this size (3.3 acres)?

Wow! What a week for Sinito.. This truly meets the criteria for this tax credit. Cannot wait to see it unfold and bring so much life to the heart of downtown.

When you say world class signage, the Intro has it covered! And it's a gorgeous building with a hulking presence. Can you even picture that shoddy strip mall there at this point?

Also keep in mind that Blitzer is a senior executive at one of the largest commercial property owners in the world. So I wouldn't worry about experience.

Amazing. Exactly what I was hoping for - billionaires with deep pockets and track records!

This is excellent news. This is the missing piece to really turning east bank into a dynamic neighborhood. I can't wait to see the end uses. GBX does some great work. My hope is that they have multiple partners and that not all of these buildings will fall under their 2021 Investment Fund. Typically they have about 10 properties per fund, and only a handful actually get re-developed initially. I would be surprised if all these fall within the 2021 fund though as they tend to spread there bets geographically per fund. We'll see!

This is the best Nucleus-related news we've heard in 5 years. identifying the buyer as Gilbert or Blitzer, both billionaires would be even better news... or a JV between the two. Let's go Cleveland!!

Huge project. Activates that dead zone between playhouse and gateway. Hopefully the start of some major investments in the area.