November 11, 20204 yr 7 minutes ago, freethink said: https://www.cleveland.com/news/2020/11/perspectus-architecture-moving-headquarters-from-shaker-square-to-downtown.html Mixed feelings. Love more businesses downtown but hate that it's at the expense of an already struggling shaker-square.
November 12, 20204 yr 1 hour ago, cle_guy90 said: Mixed feelings. Love more businesses downtown but hate that it's at the expense of an already struggling shaker-square. I rather have a struggling shaker square than a struggling downtown.
November 12, 20204 yr 3 minutes ago, simplythis said: I rather have a struggling shaker square than a struggling downtown. I'm unsure if Shaker Square is struggling. It appears that it in fact is blooming into something new. Every spot that is shutting down has almost instantly been replaced by some new refreshing restaurant concept or business. Yours Truly is becoming a vegan restaurant and cafe, on the north side Bigsby coffee is now in. There's another restaurant being built out. Honestly, I believe it's just a new decade for Shaker Square, and it doesn't seem any worse than the decade before.
November 12, 20204 yr 35 minutes ago, KFM44107 said: I'm unsure if Shaker Square is struggling. It appears that it in fact is blooming into something new. Every spot that is shutting down has almost instantly been replaced by some new refreshing restaurant concept or business. Yours Truly is becoming a vegan restaurant and cafe, on the north side Bigsby coffee is now in. There's another restaurant being built out. Honestly, I believe it's just a new decade for Shaker Square, and it doesn't seem any worse than the decade before. Thanks! I haven’t been there recently I must only have noticed the news of places closing (Fire, yours truly, etc.) and not seen the news with ones taking its place. Just did a quick search and you are right that they are being filled!
November 12, 20204 yr 4 hours ago, simplythis said: I rather have a struggling shaker square than a struggling downtown. And I wouldn't say downtown struggling. More businesses are moving in than out. Others are on temporary hold, with the pandemic's end in sight. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 8, 20204 yr Original is posted in Random Developments Just now, KJP said: MONDAY, DECEMBER 7, 2020 Seeds & Sprouts XIII - Early intel on real estate projects Two financial firms establish first local offices Building permit applications were filed in recent weeks with the City of Cleveland for two financial institutions seeking their first offices in the Greater Cleveland market. The financial institutions want to locate new offices in two separate downtown Cleveland buildings owned by the Hertz Group of Woodland Hills, CA. HSB Architects + Engineers of Cleveland submitted both permit applications. According to a Nov. 17 letter from Building & Housing Examiner Glen Murray, the city approved a building permit to Provenzale Construction Co. of Cleveland on behalf of Peoples United Bank of Bridgeport, CT, to locate what appears to be a lending office in 2,907 square feet of space on the 15th floor of the 19-story North Point Building, 1001 Lakeside Ave. The building code allows Peoples United Bank's Cleveland planned office space to have a maximum occupancy of 29 people. MORE: https://neo-trans.blogspot.com/2020/12/seeds-sprouts-xiii-early-intel-on-real.html "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 8, 20204 yr Nice to see some out of state firms opening offices here, especially financial firms going downtown. I see that as a great sign of confidence in our market.
December 16, 20204 yr "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 24, 20204 yr Speaking of the North Point building... The company FM Global which has a regional office in North Olmsted appears to be renovating 33k sq ft at a cost of 2million at the North Point complex. There is a building permit siting it as "internal office renovation". It lists the architect as HOK. Every listing I see for FM points to N.O!msted as the only local office. So I am not sure if they are relocating or expanding. But that's a pretty good dollar amount and sq ft involved. That could be about 150 employees, just a guesstimate. Edited December 24, 20204 yr by freethink
December 24, 20204 yr ^Is it renovation of an existing FM office or just a 'renovation'? if the latter, maybe they are planning a move from North Olmsted. Just looking at their sites---of the 10 or so cities I clicked on on the map, they show only one location in each city and each office is in a suburban location, not in the central city. So a move from N. Olmsted to Downtown would different for them, but may be the start of a national shift for them, who knows. Either way, space for 150 employees downtown, if new space, is great news. https://www.fmglobal.com/about-us/office-locations
December 24, 20204 yr I saw the permit too and was planning to write an article. Maybe I still will. FM Global is relocating. They were planning to relocate from North Olmsted to One Lakewood Place until Carnegie backed out. They want an urban setting to boost recruiting among younger people. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 1, 20214 yr FRIDAY, JANUARY 1, 2021 Report: Downtown Cleveland office market withstood 2020 Insurer FM Global is the latest to move its offices downtown In its latest Skyline Report, real estate services firm Jones Lang LaSalle (JLL) said downtown Cleveland's office market is far healthier than some had feared. Its report had some interesting data to share, showing that downtown is quietly waiting for the all-clear from pandemic-related restrictions to resume its renaissance. The report also suggests that downtown Cleveland is in need of more Trophy Class or Class A multi-tenant office space either by renovating older buildings or, more likely, building new ones. With Ohio's passage of the Transformational Mixed Use Development tax credit program, developers may soon have the resources to add high-end, competitive office spaces downtown. MORE: https://neo-trans.blogspot.com/2021/01/report-downtown-cleveland-office-market.html "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 4, 20214 yr On 1/1/2021 at 6:57 PM, KJP said: FRIDAY, JANUARY 1, 2021 Report: Downtown Cleveland office market withstood 2020 Insurer FM Global is the latest to move its offices downtown In its latest Skyline Report, real estate services firm Jones Lang LaSalle (JLL) said downtown Cleveland's office market is far healthier than some had feared. Its report had some interesting data to share, showing that downtown is quietly waiting for the all-clear from pandemic-related restrictions to resume its renaissance. The report also suggests that downtown Cleveland is in need of more Trophy Class or Class A multi-tenant office space either by renovating older buildings or, more likely, building new ones. With Ohio's passage of the Transformational Mixed Use Development tax credit program, developers may soon have the resources to add high-end, competitive office spaces downtown. MORE: https://neo-trans.blogspot.com/2021/01/report-downtown-cleveland-office-market.html nice to add more people to that area of town Edited January 15, 20214 yr by MrR
January 18, 20214 yr Love to see it: Rocket Mortgage eyes 700-job expansion in downtown Cleveland Rocket Mortgage, the mortgage giant formerly known as Quicken Loans, is eyeing an expansion that would bring 700 new jobs to downtown Cleveland over the next five years. The Detroit-based company already employs nearly 700 people at its Cleveland office, a mortgage banking hub tucked inside the Higbee Building just off Public Square. Local economic development officials have been working on an incentive package to double that headcount in a deal that would create more than $50 million in additional payroll and bring welcome investment to a central business district grappling with fallout from the pandemic. https://www.crainscleveland.com/real-estate/rocket-mortgage-eyes-700-job-expansion-downtown-cleveland
January 18, 20214 yr 2 minutes ago, skiwest said: I don't subscribe. Would those be new jobs or transfers from Detroit? These would be newly created jobs over the next 5 years.
January 18, 20214 yr They would all be at the Higbee building which has 110,000 SF available. That's a little tight at 157 SF per employee, but doable. Employers were increasingly going well below 200 SF per employee before the pandemic. But if they want to have social distancing or expand beyond 1,400 employees (total) in the future, then they may need to be in a new location. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 18, 20214 yr 39 minutes ago, KJP said: They would all be at the Higbee building which has 110,000 SF available. That's a little tight at 157 SF per employee, but doable. Employers were increasingly going well below 200 SF per employee before the pandemic. But if they want to have social distancing or expand beyond 1,400 employees (total) in the future, then they may need to be in a new location. I wonder how much longer Key has their lease in the building. They have been moving jobs out to their Brooklyn offices for years now. I understand why, as they own that building, but seems short sighted to me... That would likely free up more space for Rocket in Higbee though.
January 18, 20214 yr ^ Interesting blurb in Cleveland Scene that Gilbert quietly sold all Jack Enterprise interests in December. What Scene didn't say is Gilbert supposedly wants to buy a football team with the proceeds. https://www.clevescene.com/scene-and-heard/archives/2021/01/18/dan-gilbert-sold-his-jack-entertainment-casino-business-in-december Remember: It's the Year of the Snake
January 18, 20214 yr 3 minutes ago, Dougal said: ^ Interesting blurb in Cleveland Scene that Gilbert quietly sold all Jack Enterprise interests in December. What Scene didn't say is Gilbert supposedly wants to buy a football team with the proceeds. https://www.clevescene.com/scene-and-heard/archives/2021/01/18/dan-gilbert-sold-his-jack-entertainment-casino-business-in-december Would be nice if he just bought the Cleveland baseball team instead.
January 18, 20214 yr Any chance this expansion could kick start development of Bedrock’s riverfront? Gilbert obviously has a huge interest in both.
January 18, 20214 yr 20 minutes ago, Sapper Daddy said: Any chance this expansion could kick start development of Bedrock’s riverfront? Gilbert obviously has a huge interest in both. I was thinking that but at the same time Bedrock owns the Higbee building so i think it makes it doubtful! edit: Guess i was wrong about the Higbee building! Edited January 18, 20214 yr by cle_guy90
January 18, 20214 yr 4 minutes ago, cle_guy90 said: I was thinking that but at the same time Bedrock owns the Higbee building so i think it makes it doubtful! According to Cleveland Scene, Bedrock/Jack no longer owns Higbees. "JACK sold its Cleveland real estate — the casino and Thistledown racino — to Vici Properties, a spinoff of Caesar's Entertainment, in 2019 for $843 million. It operates them still in a leaseback agreement." https://www.clevescene.com/scene-and-heard/archives/2021/01/18/dan-gilbert-sold-his-jack-entertainment-casino-business-in-december Remember: It's the Year of the Snake
January 18, 20214 yr 2 hours ago, Dougal said: According to Cleveland Scene, Bedrock/Jack no longer owns Higbees. "JACK sold its Cleveland real estate — the casino and Thistledown racino — to Vici Properties, a spinoff of Caesar's Entertainment, in 2019 for $843 million. It operates them still in a leaseback agreement." https://www.clevescene.com/scene-and-heard/archives/2021/01/18/dan-gilbert-sold-his-jack-entertainment-casino-business-in-december That makes me wonder if Rocket's offices will stay at Higbee's. With the proposed doubling of jobs, it might get pretty tight in there. But that doubling is going to occur over 5 years, not right away. If the county courthouse doesn't go on Riverview (and we should learn where it will land this year), then maybe Rocket's offices will. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 26, 20214 yr On 1/18/2021 at 12:59 PM, Dougal said: ^ Interesting blurb in Cleveland Scene that Gilbert quietly sold all Jack Enterprise interests in December. What Scene didn't say is Gilbert supposedly wants to buy a football team with the proceeds. https://www.clevescene.com/scene-and-heard/archives/2021/01/18/dan-gilbert-sold-his-jack-entertainment-casino-business-in-december Where did you hear that from? That’s interesting news. I wish he’d just buy the Indians instead
January 26, 20214 yr 12 hours ago, inlovewithCLE said: Where did you hear that from? That’s interesting news. I wish he’d just buy the Indians instead Can't remember exactly where; but it circulated when he started selling off his Detroit interests. NFL does not allow its owners to have any direct gambling interests. Remember: It's the Year of the Snake
January 26, 20214 yr 13 hours ago, inlovewithCLE said: Where did you hear that from? That’s interesting news. I wish he’d just buy the Indians instead https://247sports.com/nfl/detroit-lions/Article/Lions-sale-Dan-Gilbert-could-pursue-purchase-124721017/ This is from the end of 2018 but it was at the beginning of him selling off the casinos. I will say think about you want as a person, but he is way more willing to invest in the team than the Dolans are.
January 26, 20214 yr It looks like the Lions will remain in the Ford family for the foreseeable future, so Gilbert may have to pursue another team, assuming he still wants to do so with his health situation.
January 27, 20214 yr 7 hours ago, skiwest said: It looks like the Lions will remain in the Ford family for the foreseeable future, so Gilbert may have to pursue another team, assuming he still wants to do so with his health situation. There was a bit of speculation that he might buy the Titans and then swap them with the Tennessee-based Haslams for the Browns - but that always seemed far-fetched and now even more so with the Browns winning games lately. Remember: It's the Year of the Snake
January 27, 20214 yr 6 hours ago, Dougal said: There was a bit of speculation that he might buy the Titans and then swap them with the Tennessee-based Haslams for the Browns - but that always seemed far-fetched and now even more so with the Browns winning games lately. So not to derail this even further - but the Browns are a disproportionately valuable franchise, especially with its market size and (until recently) lack of success... But anyways... back to office stuff.
February 3, 20214 yr https://www.cleveland.com/cityhall/2021/02/cleveland-city-council-approves-job-creation-grant-for-quicken-loans-llc-that-will-lead-700-new-downtown-jobs.html Edited February 3, 20214 yr by skiwest
February 3, 20214 yr 27 minutes ago, skiwest said: https://www.cleveland.com/cityhall/2021/02/cleveland-city-council-approves-job-creation-grant-for-quicken-loans-llc-that-will-lead-700-new-downtown-jobs.html Sam Allard is not happy. And that’s not a joke.
March 30, 20214 yr Based on the Crains article headline (since I am not a subscriber) from 14 hours ago, is AML Rightsource moving some employees downtown?
March 30, 20214 yr 1 hour ago, ytown2ctown said: Based on the Crains article headline (since I am not a subscriber) from 14 hours ago, is AML Rightsource moving some employees downtown? I don't know if they're moving any from the burbs to Downtown (they have people in both), but they are moving from BP to E. 9 St. with plans to add more staff Downtown: Edited March 30, 20214 yr by Pugu
March 30, 20214 yr New location is AECOM Building, 1300 E 9th Street. https://teamneo.org/news/aml-rightsource-announces-expansion-in-cleveland/
April 6, 20214 yr https://www.nmrk.com/storage-nmrk/uploads/fields/pdf-market-reports/Newmark-Cleveland-Office-1Q21-Market-Report.pdf "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
April 6, 20214 yr I have a feeling we will see more office to residential conversions in the future - even if the easy pickings are already gone.
April 7, 20214 yr 2 hours ago, PoshSteve said: I have a feeling we will see more office to residential conversions in the future - even if the easy pickings are already gone. Yes, there's one coming soon -- not Sherwin-Williams' old HQ. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
April 12, 20214 yr MAI Capital Management prepares to move to Independence Stan Bullard - Crain's Cleveland Business - Apr. 12, 2021 "MAI Capital Management, a growing wealth management firm and fee-based registered independent adviser, is taking steps to move to Park Center Plaza, a three-building campus in Independence, from downtown Cleveland. ... MAI Capital occupies the top three floors of IMG Center, 1360 E. Ninth St. Buoncore bought the financial advisory firm in 2007 from the family of Mark McCormack, the founder of IMG, and others. ... Asked if the foreclosure proceeding pending against IMG Center owner James Breen since 2019 had bearing on the firm's move, Buoncore said, 'The receiver, Paul Downey, has done an amazing job trying to return (IMG Center) to a fully functioning building.' He declined to elaborate."
April 12, 20214 yr from the crain's article: "Rick Buoncore, MAI managing partner, said in an interview that the company needs a campus setting and amenities such as an on-site cafeteria and auditorium to continue its growth. "We don't have that downtown," Buoncore said. "Add free parking and a survey that it will shorten the commute for 90% of our people, and it becomes a no-brainer." He could easily have that downtown. What a loser. I hope he loses a lot of clients and money over this.
April 12, 20214 yr 1 hour ago, Pugu said: from the crain's article: "Rick Buoncore, MAI managing partner, said in an interview that the company needs a campus setting and amenities such as an on-site cafeteria and auditorium to continue its growth. "We don't have that downtown," Buoncore said. "Add free parking and a survey that it will shorten the commute for 90% of our people, and it becomes a no-brainer." His employees will really enjoy the "reduced" traffic on Rockside, not to mention the increase in places to walk to for lunch. But hey, they'll have their own cafeteria! All of that will definitely be attractive to new employees. 🙄
April 12, 20214 yr All of those office locations nestled back off of Rockside Road just seem so depressing. Like working in the movie Office Space.
April 12, 20214 yr 1 hour ago, gg707 said: All of those office locations nestled back off of Rockside Road just seem so depressing. Like working in the movie Office Space. It's not all bad. When I worked over there a coyote would come visit sometimes.
April 12, 20214 yr 2 hours ago, Foraker said: His employees will really enjoy the "reduced" traffic on Rockside, not to mention the increase in places to walk to for lunch. But hey, they'll have their own cafeteria! All of that will definitely be attractive to new employees. 🙄 The unsaid purpose of a cafeteria is that people don't have an excuse to leave for lunch
April 13, 20214 yr Another employer in Independence is looking to move downtown. Ironically, they may take NAI's space. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
April 13, 20214 yr 2 hours ago, KJP said: Another employer in Independence is looking to move downtown. Ironically, they may take NAI's space. Who is it??? 😀
April 13, 20214 yr 53 minutes ago, inlovewithCLE said: Who is it??? 😀 I want to make sure I can name them without compromising a source. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
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