Does anyone know about what percent of the building is occupied by Eaton?

 

They occupy six full floors. I believe that is slightly less than a third. The law firm by comparison is leasing five full floors.

 

Did I miss something?  It a large law firm relocating into the Eaton Building (or has done so already)?

 

 

I'm sorry, I was thinking Ernst & Young, not Eaton. I keep confusing the two names.

regarding Ohio Business Machines, from where did they move?

 

The article says, "A Cleveland company that has its roots downtown but moved to the suburbs 12 years ago has relocated its headquarters back to the place where it all started...." but doesn't say which suburb.

regarding Ohio Business Machines, from where did they move?

 

The article says, "A Cleveland company that has its roots downtown but moved to the suburbs 12 years ago has relocated its headquarters back to the place where it all started...." but doesn't say which suburb.

 

If my memory serves me correct, they were in Parma or Parma Hts. 

Just an interesting but of info I learned today; just in the short time Britton Gallagher has been in One Cleveland Center, Optima has signed two full floor tenants and several partial floor tenants moving the occupancy rate up 5-10%. Because the market has changed, so have the lease terms for the newest tenants, meaning the amazing deals that were being given out just a few months ago are now somewhat less of a bargain. Demand is definitely rising. Overall I thought this was encouraging, hope the trend continues!

It looks like work has begun on transforming the former KeyBank Center at E 9th and Superior for AmTrust.  I can see the work on the top three floors being done from my office, not sure if they have started on the rest yet.  According to this article they will be redoing 12 of the floors on the building.  Really good news as that means the 700-800 additional employees are that much closer to working down here.

 

http://ibmag.com/Main/Archive/2012_Team_NEO_Business_Expansion_More_than_300_emp_12177.aspx

It looks like work has begun on transforming the former KeyBank Center at E 9th and Superior for AmTrust.  I can see the work on the top three floors being done from my office, not sure if they have started on the rest yet.  According to this article they will be redoing 12 of the floors on the building.  Really good news as that means the 700-800 additional employees are that much closer to working down here.

 

http://ibmag.com/Main/Archive/2012_Team_NEO_Business_Expansion_More_than_300_emp_12177.aspx

 

That article really makes it seem as if the GMAC move to CLE is a done deal, but still haven't seen/heard anything to confirm this.

Wonder what impact this could have on S-W's office space needs downtown?

 

Sherwin-Williams to buy Mexico City company in $2.34 billion deal

9:00 am, November 12, 2012

 

Sherwin-Williams Co. (NYSE: SHW) is making a major effort to expand its North American operations by signing an agreement to acquire Consorcio Comex, S.A. de C.V., of Mexico City for $2.34 billion.

 

Cleveland-based Sherwin-Williams said the purchase price includes assumed debt in the all-cash transaction.

 

Comex, founded in 1952, is privately held and has operations in Latin America, the United States and Canada. It had sales last year of $1.4 billion.

 

READ MORE AT:

http://www.crainscleveland.com/article/20121112/FREE/121119983

My goodness, Jones Day is in on every damn deal in Cleveland!

 

It gives no details, so maybe they will run as a subsidiary?  Or its possible, that Comex will turn their current HQ into a Regional office, a la SOHIO/BP.

Oswald Cos. to remain downtown

Insurance brokerage's expansion to come in 1100 Superior building

 

Oswald Cos., an insurance brokerage based in downtown Cleveland since 1893, has decided to remain in the city center as it embarks on a big expansion by moving to 1100 Superior Ave., which will be renamed Oswald Centre.

 

Marc S. Byrnes, Oswald chairman and CEO, said the company reviewed several suburban office and downtown options for the 220 employees at its headquarters before striking a deal with American Landmark Properties Ltd., the Skokie, Ill.-based owner of 1100 Superior, which began life as the headquarters of the former Diamond Shamrock Corp.

 

Oswald is leasing for 12 years the 13th, 14th and 15th floors of the building, a total of 71,000 square feet. That's a 48% increase from the 48,000 square feet it currently occupies at IMG Center, 1360 E. Ninth St.

http://www.crainscleveland.com/article/20121112/SUB1/311129984&template=printart

Another angle of the same story.....

 

Oswald Cos. will stay in downtown Cleveland, lease three floors at 1100 Superior building

By Michelle Jarboe McFee, The Plain Dealer

on November 12, 2012 at 5:30 PM, updated November 12, 2012 at 5:31 PM

 

CLEVELAND, Ohio -- One of the nation's largest independent, employee-owned insurance companies will stay in downtown Cleveland but jump to bigger offices next year.

 

After canvassing the city and the suburbs, the Oswald Cos. has decided to lease three floors of the 1100 Superior building, next to the revived Perk Park on East 12th Street.

 

In August 2013, the company will move 220 employees and its headquarters there from longtime offices at the IMG Center. Roughly a dozen employees from Oswald's Beachwood office will join them downtown.

 

READ MORE AT:

http://www.cleveland.com/business/index.ssf/2012/11/oswald_cos_will_stay_in_downto.html

Of lesser note, my company is opening a loan production office (I think about 3,500 sf) in the same building. Two lenders and some support people to start, with more to come down the line.

That's great! The more the merrier. We just had a couple of new neighbors come on to the floor of our building -- The City Club. It's a great building for small businesses and nonprofits.... Very low cost, good condition, free wi-fi, business center on 10th floor, free conference rooms, kitchen, law library, onsite security, two good restaurants in the building (Cleveland Pickle, Black Dog Kitchen), CVS drug store, transit access on HealthLine and a stop for the free Trolley right out front, enclosed walkway to parking deck next door.

What is happening in the Key Bank Center (800 Superior) garage?  There's been some heavy construction noise for the past few weeks and today it sounded like they were drilling. Is this related to the new tenants coming?

Michelle J. McFee ‏@mjarboe

Forest City aims to sell or enter makeover JV for #CLE's Halle Building. http://bit.ly/UITg7y  (Was talking to big office user. County?) #FCE

https://twitter.com/mjarboe/status/276852128532819968

 

Forest City Enterprises sees improved third quarter, signals change for Cleveland's Halle Building

By Michelle Jarboe McFee, The Plain Dealer

on December 06, 2012 at 7:45 PM, updated December 06, 2012 at 7:57 PM

 

CLEVELAND, Ohio -- Forest City Enterprises Inc. will sell all or part of the Halle Building in downtown Cleveland, after ending negotiations with a potential large office tenant in October.

 

...

 

Forest City said it will sell the 400,000-square-foot office building or enter a joint venture to refashion it. To account for the change, the company took a $30.2 million loss on the property while reducing its value to $10.5 million.

 

...

 

http://www.cleveland.com/business/index.ssf/2012/12/forest_city_enterprises_sees_i.html

Britton Gallagher quickly outgrows new space at One Cleveland Center

Insurance broker will lease another 6,000 square feet after adding 18 to staff

 

 

Six months after Britton Gallagher moved into its new digs in downtown Cleveland, it has outgrown the space.

 

Now, the insurance brokerage is preparing to exercise the rights under its lease at One Cleveland Center to add and build out roughly 6,000 more square feet on the building's top floor.

 

The reason: Since early June, when the firm moved its offices to Cleveland from Solon, it has added 18 people, said Wendy Kertesz, director of marketing.

 

Those additions bring the firm's total employees to 75, and leave not even an extra cubicle for the insurance representatives who at various times spend a day or two at Britton Gallagher, said Lee M. Stacey, CEO and president. In retrospect, he noted, it would have behooved the firm to build out all the space at once, not just its 20,000 square feet on the 30th floor.

 

Mr. Stacey said he didn't have an estimate last week for what build-out and furnishing of part of the 31st floor will cost.

 

 

http://www.crainscleveland.com/article/20121203/SUB1/312039988

Britton Gallagher quickly outgrows new space at One Cleveland Center

Insurance broker will lease another 6,000 square feet after adding 18 to staff

 

 

Six months after Britton Gallagher moved into its new digs in downtown Cleveland, it has outgrown the space.

 

Now, the insurance brokerage is preparing to exercise the rights under its lease at One Cleveland Center to add and build out roughly 6,000 more square feet on the building's top floor.

 

The reason: Since early June, when the firm moved its offices to Cleveland from Solon, it has added 18 people, said Wendy Kertesz, director of marketing.

 

Those additions bring the firm's total employees to 75, and leave not even an extra cubicle for the insurance representatives who at various times spend a day or two at Britton Gallagher, said Lee M. Stacey, CEO and president. In retrospect, he noted, it would have behooved the firm to build out all the space at once, not just its 20,000 square feet on the 30th floor.

 

Mr. Stacey said he didn't have an estimate last week for what build-out and furnishing of part of the 31st floor will cost.

 

 

http://www.crainscleveland.com/article/20121203/SUB1/312039988

 

Thanks for posting that

We're getting more neighbors in the City Club Building too (850 Euclid). It's dirt-cheap office space, so there's some new mom-and-pop businesses in there. There's two great restaurants on our ground floor too -- Cleveland Pickle and the Black Dog Kitchen -- plus the CVS. If what I think is going to be happening at East 9th and Euclid starting Tuesday, this is going to be a much hotter corner in the near future. So you might want to grab some cheap office space around there now, if you can.

Third quarter 2012 Cleveland office market overview which notes the square footage needs of KeyCorp as it considers its office location options.....

 

http://www.barnacaplan.com/uploads_library/Cleveland_OFF_3Q12.pdf

Another relocation to downtown: (caught it at the end of this article)

 

Cleveland-based PMK Customs launches site with Microsoft, collaborates with Jay-Z

 

A Cleveland-based custom-design shoe company is picking up some rather high-profile partners.

 

In November, PMK Customs collaborated with music mogul Jay-Z on a wild, exotic animal-skin take on Nike's Air Jordan 1 called Brooklyn Zoo.

 

And on Saturday, it launched a custom-design site with Microsoft called PMK Design Labs, which allows users to personalize a pair of kicks using a whole palette of colors.

 

The site lets you search by gender, style or lifestyle. You can select a pair already designed by one of PMK's artists, or swap in your own colors to match your team's colors or nearly anything in your closet. You can also Tweet the image of your creation or share it on Facebook. Prices start at around $100........

 

In January, Scott and his team will move from their space in Bedford Heights to a downtown office and showroom on Superior Avenue. Although clients ask him why he doesn't set up shop in New York or Los Angeles, Scott says he's committed to keeping PMK here in Cleveland.

 

'I love this city,' he says. 'I want our business to grow, our young designers' careers to grow and the city to grow along with us. We're not going anywhere.'"

 

http://www.cleveland.com/style/index.ssf/2012/12/cleveland-based_pmk_customs_la.html#incart_more_entertainment

 

There's a lot more on the article. I just highlighted what the company is and the relevant line about them moving

^ Good on them for their success! That shoe he's holding in the pic is pretty sweet.

^^ Also of note from the article ... "MK is also working on ... the opening of a retail shop inside Villa at Tower City in January."

Crain's Cleveland reports today that WRL is moving out of 925 Euclid to a full floor of the Hanna Building. So 925 is set to lose E&Y, WRL, and Tucker Ellis next year.

Here's the article and link......

 

Westlake Reed to move Cleveland office to PlayhouseSquare's Hanna Building

By STAN BULLARD

1:47 pm, December 12, 2012

 

The Westlake Reed Leskosky architecture firm has announced plans to move to the Hanna Building, 1422 Euclid Ave. in downtown Cleveland, from its current offices at 925 Euclid, better known as the former Huntington Building.

 

The architectural and engineering firm said it will occupy the third floor of the Hanna, which is owned by the real estate affiliate of the PlayhouseSquare Foundation. Westlake Reed ranks as the city's largest practice, with 45 regisered architects. according to Crain's latest list of the region's architectural firms.

 

READ MORE AT:

http://www.crainscleveland.com/article/20121212/FREE/121219912

Worth perusing for anyone wanting a quick overview of what's going on downtown (6mb download)

 

http://www.downtowncleveland.com/media/76125/downtownmarketupdate_q3-2012.pdf

i always look forward to these reports

Nice article about the rehab of 800 Superior Ave to bring in 1,000 new jobs....

 

http://rejblog.com/2013/01/08/keybank-helps-bring-1000-jobs-to-downtown-cleveland-with-financing-for-800-superior/

Nice article about the rehab of 800 Superior Ave to bring in 1,000 new jobs....

 

http://rejblog.com/2013/01/08/keybank-helps-bring-1000-jobs-to-downtown-cleveland-with-financing-for-800-superior/

 

Well how about that the Medical Mart and CC opened and I didn't even notice! ;) haha aside from that, good article. Do we know how the renovation is going to  change the building yet??

^quality journalism...way to get your facts right (Med Mart).  The problem with articles like this is that  when I see such a glaring error in connection with something of which I am aware, I start to question other facts in the article.

I had the same reaction. I stopped reading after the part about the Medical Mart.

Question? doesn't amtrust financial services already have a building going down 9th? Or is that another financial building I'm thinking of? If they do have a building down 9th are they expanding or just relocating somewhere else?

I have a question which may be a little off topic. I see in articles the former BP building is still called 200 public square, I thought Huntington got the naming rights when they moved there or am I mistaken?

You're mistaken. Huntington got the right to put their signage on the building, but not naming rights of the building. The building remains 200 Public Square.

You're mistaken. Huntington got the right to put their signage on the building, but not naming rights of the building. The building remains 200 Public Square.

Thank you for clearing that up for me.

Question? doesn't amtrust financial services already have a building going down 9th? Or is that another financial building I'm thinking of? If they do have a building down 9th are they expanding or just relocating somewhere else?

 

It is a bit confusing.  What is now once again Ohio Savings Bank used to be called Amtrust Bank and occupied (or maybe still occupies) the building on the east side of the 9th Street b/w Walnut and Chester. That building had big "Amtrust Bank" signage on it-- not sure if it still does though.

 

Amtrust Financial, which is the company moving a 1000 jobs into the old Key Investment Center, or whatever it's called, is a New York-based insurance company that I believe is completely unaffiliated with what was once Amtrust Bank.  So these are totally new jobs to the region, not a relocation within downtown.

Question? doesn't amtrust financial services already have a building going down 9th? Or is that another financial building I'm thinking of? If they do have a building down 9th are they expanding or just relocating somewhere else?

 

It is a bit confusing.  What is now once again Ohio Savings Bank used to be called Amtrust Bank and occupied (or maybe still occupies) the building on the east side of the 9th Street b/w Walnut and Chester. That building had big "Amtrust Bank" signage on it-- not sure if it still does though.

 

Amtrust Financial, which is the company moving a 1000 jobs into the old Key Investment Center, or whatever it's called, is a New York-based insurance company that I believe is completely unaffiliated with what was once Amtrust Bank.  So these are totally new jobs to the region, not a relocation within downtown.

 

This is right (mostly).  The only slight correction is that Amtrust Financial currently has some employees in Independence who will be moving downtown.  I forget the exact numbers, but at least several hundred jobs will be new.

And of course, none of this is to be confused with Ameritrust.  Or Amway, for that matter.

A brief but interesting discussion.......

 

 

FRIDAY, JANUARY 18, 2013

 

2012- CRE Year in Review

Prevailing Trends of 2012

 

2012 was an exciting year for commercial real estate, especially in the Cleveland CBD.  Below is a summary of some of the major trends we witnessed in both the office and industrial real estate markets.

 

Downtown Office Absorption

 

Despite Eaton moving to Beachwood, the office market in the Cleveland CBD ended 2012 with positive absorption.  A total of 436,878 SF were absorbed in the CBD, largely due to two prevailing trends:  Suburban employers moving their operations downtown and vacant office spaces in the CBD are being converted into apartments in order to meet rising demand.  In addition, the CBD got some major tenants from outside the region, such as Alexander Mann Solutions.

 

READ MORE AT:

http://terrycoyne.blogspot.com/2013/01/2012-cre-year-in-review.html

very informative. I really like how the citys been able to basically shrug off eaton as no big deal

A small expansion.....

 

Private Trust Co. expands in the Hanna Building

By MICHELLE PARK

4:30 am, January 28, 2013

 

The Private Trust Co. in Cleveland is expanding its space in the Hanna Building to accommodate the staff growth it projects over the next year.

 

http://www.crainscleveland.com/article/20130128/RENEWSLETTER/301289976/1276/newsletter07

Title Source, part of Rock Ventures family of companies, opens downtown Cleveland office

 

CLEVELAND, Ohio -- Title Source, which bills itself as the largest independent provider of title insurance, appraisals and settlement services in the United States, has opened an office in downtown Cleveland.

 

http://www.cleveland.com/business/index.ssf/2013/01/title_source_part_of_rock_vent.html#incart_river_default

Positive net absorption again in Q4...

 

http://www.downtowncleveland.com/media/82160/q4_2012_final.pdf

I guess you have to start somewhere. We sure have lost a lot of posts. Too bad the server crashed and we did not have a more recent back-up.http://www.crainscleveland.com/article/20130709/FREE/130709865

^Nice!  From that article:

 

That growth is a big reason why Dakota Software moved downtown, Mr. Shiverick said. Being close to restaurants, apartments and other downtown amenities will help the company attract new recruits, he said, noting that the downtown atmosphere is more exciting than it was five years ago.

 

The company's Beachwood office, by contrast, was an island, Mr. Shiverick said.

The company's Beachwood office, by contrast, was an island, Mr. Shiverick said.

 

Cough cough, Eaton, cough cough

^Nice!  From that article:

 

That growth is a big reason why Dakota Software moved downtown, Mr. Shiverick said. Being close to restaurants, apartments and other downtown amenities will help the company attract new recruits, he said, noting that the downtown atmosphere is more exciting than it was five years ago.

 

The company's Beachwood office, by contrast, was an island, Mr. Shiverick said.

 

Thirty people.  Not all of whom are downtown.    Many of whom can

The company's Beachwood office, by contrast, was an island, Mr. Shiverick said.

 

Cough cough, Eaton, cough cough

 

Somewhat different from an office of thirty people. 

 

Progressive is more like a small continent, and Eaton seems to be going for the same thing.

^Nice!  From that article:

 

That growth is a big reason why Dakota Software moved downtown, Mr. Shiverick said. Being close to restaurants, apartments and other downtown amenities will help the company attract new recruits, he said, noting that the downtown atmosphere is more exciting than it was five years ago.

 

The company's Beachwood office, by contrast, was an island, Mr. Shiverick said.

 

Thirty people.  Not all of whom are downtown.    Many of whom can

The company's Beachwood office, by contrast, was an island, Mr. Shiverick said.

 

Cough cough, Eaton, cough cough

 

Somewhat different from an office of thirty people. 

 

Progressive is more like a small continent, and Eaton seems to be going for the same thing.

 

But in terms of attracting and retaining hot young prospects, I see KJPs point here.  I wonder how many of Progressive's young employees would jump to a downtown office if given the chance?

^years ago, when I was young (like I said YEARS ago) I recieved a job offer from Progressive that was more than 40% of my salary at the time.  After much thought I turned the offer down because I just could not see myself working that far out in the surburbs (or really in the surburbs at all) after being downtwon for the first 3 years of my career.  About 6 months later I took a new job downtown at a salary much lower than the Progressive offer.  That was the "thinking" of this "twenty something" way back then. 

^years ago, when I was young (like I said YEARS ago) I recieved a job offer from Progressive that was more than 40% of my salary at the time.  After much thought I turned the offer down because I just could not see myself working that far out in the surburbs (or really in the surburbs at all) after being downtwon for the first 3 years of my career.  About 6 months later I took a new job downtown at a salary much lower than the Progressive offer.  That was the "thinking" of this "twenty something" way back then. 

That's the thinking of this twenty something as well. I work in insurance and would never work at Progressive. Their self-contained continent as erocc says is not appealing to me at all.

^years ago, when I was young (like I said YEARS ago) I recieved a job offer from Progressive that was more than 40% of my salary at the time.  After much thought I turned the offer down because I just could not see myself working that far out in the surburbs (or really in the surburbs at all) after being downtwon for the first 3 years of my career.  About 6 months later I took a new job downtown at a salary much lower than the Progressive offer.  That was the "thinking" of this "twenty something" way back then. 

That's the thinking of this twenty something as well. I work in insurance and would never work at Progressive. Their self-contained continent as erocc says is not appealing to me at all.

 

Among the younger east side unpolitical suburbanite crowd where I have ties despite my advanced years, it's considered among the best of places to work.  There's enough people so you're not encountering the same old faces all the time like Dakota might have been.

^Nice!  From that article:

 

That growth is a big reason why Dakota Software moved downtown, Mr. Shiverick said. Being close to restaurants, apartments and other downtown amenities will help the company attract new recruits, he said, noting that the downtown atmosphere is more exciting than it was five years ago.

 

The company's Beachwood office, by contrast, was an island, Mr. Shiverick said.

 

Thirty people.  Not all of whom are downtown.    Many of whom can

 

Yep, all thirty people will be downtown soon.  Plus 20 more hires.  I'll finish your incomplete sentence for you: "Many of whom can... finally walk, bike or take transit to work from the city's hipper neighborhoods, if they are so inclined, a fantastic expansion of choices compared to their old location; and, of course any worker who would like to continue driving and living where they did before can do so, so this move only expands the viable lifestyle options of employees, pleasing everyone who values individual choice and the freedom for households to choose how to live."