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Sohio has a 13th floor?!?  No wonder it is vacant.

13 minutes ago, Chazz Michael Michaels said:

From a post from KJP earlier this year.  At a minimum, it looks like if they did expand to 200 PS, their set-up would be highly inefficient.

I'm hoping the CEO is the empire builder that KJP has suggested and that he looks to build new (perhaps anchors the Magellan project).

If I were Magellan, I'd be on the phone with Cliffs daily!!!

How tall of a tower was Magellan planning?  There is also an available parcel at 4th and Prospect.  😉

40 minutes ago, LibertyBlvd said:

How tall of a tower was Magellan planning?  There is also an available parcel at 4th and Prospect.  😉

My understanding, which is based solely from reading posts here at UO, is that the height of the tower(s) for the Magellan project were not disclosed.  The unofficial rendering had a 30+ story tower for a hotel and an smaller tower for an office.

That said, I believe the key for the Magellan project is that they own an attractive site and had the flexibility to work with the prospective office tenant to meet their needs.

To me, that means get on the phone with Cliffs and figure out what there needs are and address them in your second planned tower.

But, I'm not a developer.

 

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  • Author
1 hour ago, LibertyBlvd said:

How tall of a tower was Magellan planning?  There is also an available parcel at 4th and Prospect.  😉

 

The concept was for approximately 30 stories.

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

10 hours ago, Chazz Michael Michaels said:

My understanding, which is based solely from reading posts here at UO, is that the height of the tower(s) for the Magellan project were not disclosed.  The unofficial rendering had a 30+ story tower for a hotel and an smaller tower for an office.

That said, I believe the key for the Magellan project is that they own an attractive site and had the flexibility to work with the prospective office tenant to meet their needs.

To me, that means get on the phone with Cliffs and figure out what there needs are and address them in your second planned tower.

But, I'm not a developer.

 

image.png.9fb1e267e60ed698794b19fd33d8b751.png

@Chazz Michael Michaels’s idea seems completely logical to me, but I am not a developer either.  And I know no details of why Magellan is on hold or how far along it had come from the conceptual stage.  
 

I may be wrong but get the sense that some corporations are reticent to be part of a mixed use project in lieu of their own trophy building. 
 

Just seems like some of the perfect alchemy is there for a Magellan Tower. A flagship tenant like Cliffs - a perfect hotel space for the neighboring Sherwin Williams - and, I assume a great shot at a big TMUD grant. 
 

If the project’s ambitions were limited to a one-building 30-Story-ish tower - maybe the project would have a more viable path, especially with a somewhat downsized hotel.
 

The profile of the project might be similar to the just approved 30 story Journal Square Tower - a mixed use tower in Jersey City. 
 

I hate to be greedy after the week we’ve had but- I still want more! 

  • 1 year later...

Cliffs take over of U.S. Steel is seemingly more inevitable by the day. 

From an article yesterday on Seeking Alpha.
I’m having trouble sharing the link from my phone.

“The US Steel (X) sale process is expected to continue through next week, according to Faber. It may take a couple more weeks to get a deal signed and that the parties likely want to get it done prior to the holidays, Faber speculated.”


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What a Christmas present for Cleveland it would be if Cliffs can close the deal.  Wow. 

15 minutes ago, CleveFan said:

What a Christmas present for Cleveland it would be if Cliffs can close the deal.  Wow. 

Even just getting the new Arkansas mill would be a big benefit.  

Remember: It's the Year of the Snake

On 11/30/2023 at 2:15 PM, CleveFan said:

What a Christmas present for Cleveland it would be if Cliffs can close the deal.  Wow. 

Love this for Cleveland, not a fan for the overarching US steel market/monopoly implications. I'm not an economist but Cliffs would be MASSIVE in the market after this (~top ten WORLD producers). 

just a bit of biz news —

 

 

 

Cleveland-Cliffs Announces Price Increase for Hot Rolled, Cold Rolled and Coated Steel Products

 

December 06, 2023 08:16 AM Eastern Standard Time

 

CLEVELAND--(BUSINESS WIRE)--

 

Cleveland-Cliffs Inc. (NYSE: CLF) today announced that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products, effective immediately with all new orders. Cliffs’ minimum base price for hot rolled steel is now $1,100 per net ton.

 

About Cleveland-Cliffs Inc.

Cleveland-Cliffs is the largest flat-rolled steel producer in North America.

 

Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing.

 

Cleveland-Cliffs is the largest supplier of steel to the automotive industry in North America and serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products.

 

Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 27,000 people across its operations in the United States and Canada.

 

 

Contacts

MEDIA CONTACT: 
Patricia Persico
Senior Director, Corporate Communications
(216) 694-5316

INVESTOR CONTACT: 
James Kerr
Manager, Investor Relations
(216) 694-7719

https://www.businesswire.com/news/home/20231206843144/en/Cleveland-Cliffs-Announces-Price-Increase-for-Hot-Rolled-Cold-Rolled-and-Coated-Steel-Products/

A company like that really needs a 600 foot (or taller) tower in downtown Cleveland. 

^ As much as I want a new skyscraper, I also don't want vacant skyscrapers.  I wonder if they would simply buy 200 Public Square?  I also think that the soon-to-be Former Justice Center would be a good fit for them.  

@BoomerangCleRes  I used your great photo to show if Cleveland Cliffs' Headquarters became 200 Public Square with additional floors added

200 public square addl floors.jpg

^ As much as I want a new skyscraper, I also don't want vacant skyscrapers.  I wonder if they would simply buy 200 Public Square?  I also think that the soon-to-be Former Justice Center would be a good fit for them.  
I thought about this same thing, with WFH and Cliffs being one of, if not their largest tenant it seems like a zero sum to build another skyscraper just to say you did it. Now if 200 PS wasn't large enough that's a different discussion.

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5 hours ago, dave2017 said:

@BoomerangCleRes  I used your great photo to show if Cleveland Cliffs' Headquarters became 200 Public Square with additional floors added

200 public square addl floors.jpg


@dave2017 that is really messing with my head.

5 hours ago, dave2017 said:

@BoomerangCleRes  I used your great photo to show if Cleveland Cliffs' Headquarters became 200 Public Square with additional floors added

200 public square addl floors.jpg

Way too bulky. It might look better if taper continued on the added floors and came to a point at the top. 

  • 2 weeks later...

Is Cliffs no longer buying US Steel? 

34 minutes ago, scg80 said:

Is Cliffs no longer buying US Steel? 

According to Crain’s, they lost out to Nippon Steel for 14.1 billion.

Welp, I guess we can forget about a new 900' Cliffs HQ downtown.   

1 hour ago, Growth Mindset said:

According to Crain’s, they lost out to Nippon Steel for 14.1 billion.

NBC says $14.9 billion, but y'know what's $800 million between friends.

 

Just wanna point out this is DOUBLE Cliffs's offer. Actually, the $15B offer is 50% higher than Cliffs's market cap.

 

FWIW, Cliffs' stock is up almost 10% on the news.

 

Once this closes, Cliffs is THE American steel producer.

  • Author
9 minutes ago, LibertyBlvd said:

Welp, I guess we can forget about a new 900' Cliffs HQ downtown.   

 

Unless they grow organically 

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

I don't know anything about these business deals, but aren't there lengthy government approvals that still need to happen before the deal can go through?  Is there still a chance this deal doesn't happen?

50 minutes ago, Dino said:

I don't know anything about these business deals, but aren't there lengthy government approvals that still need to happen before the deal can go through?  Is there still a chance this deal doesn't happen?

 

There's a pretty healthy cliffs thread in Ohio Business: 

 

 

  • 4 months later...

Since Dan Gilbert's Bedrock was able to court GM to move their headquarters away from The Renaissance Center to his Hudson Tower build in Detroit, I wonder if they are talking to Cleveland Cliffs about any development build in Cleveland

Edited by dave2017

Part of me doesn't want them to leave 200 PS. While a new tower would be amazing, building a new office tower just to say we built one wouldn't be smart or ideal, yeah it looks good from the optics but that's all. That would leave a MAJOR hole in an already struggling office tower with Benesch leaving and Huntington Bank potentially downsizing and removing their naming rights from the building. 

 

Now depending on how fast this would all happen that would be interesting to see what that causes SHW to do. If Cliffs leaves 200 PS that would leave space in a prominent (aging) Class A space that SHW may find easier to move into rather than build new. It is close to their new HQ, has attached parking, an atrium for employees and dominates the skyline while being cheaper than developing and building a 2nd HQ. 

 

So I feel that if Cliffs DOES move and build new, we would still only have 2 new highrises/skyscrapers instead of a bonus 3rd. 

Edited by MyPhoneDead

^ If Cliffs does decide to move, and that's a big if, it will take several years before a new HQ is ready.  Seems like SHW will need HQ2 relatively soon. 

Also there is the matter of US steel that still hasnt been resolved.  I would think that sale would have to finish first before anything gets moving.. 

4 hours ago, MyPhoneDead said:

Part of me doesn't want them to leave 200 PS. While a new tower would be amazing, building a new office tower just to say we built one wouldn't be smart or ideal, yeah it looks good from the optics but that's all. That would leave a MAJOR hole in an already struggling office tower with Benesch leaving and Huntington Bank potentially downsizing and removing their naming rights from the building. 

 

Now depending on how fast this would all happen that would be interesting to see what that causes SHW to do. If Cliffs leaves 200 PS that would leave space in a prominent (aging) Class A space that SHW may find easier to move into rather than build new. It is close to their new HQ, has attached parking, an atrium for employees and dominates the skyline while being cheaper than developing and building a 2nd HQ. 

 

So I feel that if Cliffs DOES move and build new, we would still only have 2 new highrises/skyscrapers instead of a bonus 3rd. 

200 PS residential conversion anybody? Seems inevitable, might as way get it underway now!

 

(sort of kidding)

As much as I want CLE Cliffs to build a new skyscraper, I think it makes more sense for them to just buy 200 PS and spruce it up.  I'd rather have them on PS and avoid the building becoming a zombie property.

  • 7 months later...
  • 1 month later...

Cleveland Cliffs potential move/merger talks here --> 

 

"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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