January 24Jan 24 22 hours ago, KJP said: More good news...... 2025’s return to the office? It started in 2024 By Ken Prendergast / January 23, 2025 Although a variety of four-letter words have frequently been used to describe the office market since the pandemic, there’s a new one being uttered lately — “hope.” That word made its appearance in the latest Cleveland office market report by Newmark, one of the industry’s most respected collectors and analysts of real estate inventory market data. MORE: https://neo-trans.blog/2025/01/23/2025s-return-to-the-office-it-started-in-2024/ Any new info of what improvements have been made for 200 public square? I know when it happened the purchasing party were iffy.
January 24Jan 24 9 minutes ago, JB said: Any new info of what improvements have been made for 200 public square? I know when it happened the purchasing party were iffy. As far as I know, the only improvements that were made so far were the result of efforts by the prior owner. https://neo-trans.blog/2022/01/22/200-public-square-to-get-major-updates-new-amenities/ "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
February 3Feb 3 Receiver appointed for Downtown office complex By Ken Prendergast / February 3, 2025 On Friday, Judge Christopher Boyko at the U.S. District Court for the Northern District of Ohio ordered the North Point office complex in Downtown Cleveland be placed in the hands of a receiver to manage the property and, more specifically, to pay its creditors. The request was made earlier in the week by Wells Fargo Bank, as trustee for the benefit of the registered holders of GS Mortgage Securities Corp.’s distressed loan collateralized by the property. MORE: https://neo-trans.blog/2025/02/03/receiver-appointed-for-downtown-office-complex/ "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
March 4Mar 4 GSA considering selling Federal Building. https://www.crainscleveland.com/real-estate/gsa-confirms-its-considering-sale-celebrezze-federal-building
March 5Mar 5 19 hours ago, simplythis said: GSA considering selling Federal Building. https://www.crainscleveland.com/real-estate/gsa-confirms-its-considering-sale-celebrezze-federal-building To whom? I guess a sale/leaseback agreement could be worked out at some price; but that building has to be on the GSA books at over $200 million. They won't get anything close to that. Government is one of the few entities that won't care. Remember: It's the Year of the Snake
March 5Mar 5 47 minutes ago, Dougal said: To whom? I guess a sale/leaseback agreement could be worked out at some price; but that building has to be on the GSA books at over $200 million. They won't get anything close to that. Government is one of the few entities that won't care. Sell for pennies on the dollar, then lease back at market rate. Just a huge waste of money. Edited March 5Mar 5 by Mendo
March 5Mar 5 2 hours ago, Mendo said: Sell for pennies on the dollar, then lease back at market rate. Just a huge waste of money. All part of the plan Elmo and friends want to implement. Enrich themselves. Look taxpayers- we don't own all this stuff anymore. Meanwhile we never told you we are paying tons more in rent now....but this column over here has a zero in it now!
March 5Mar 5 17 minutes ago, Whipjacka said: what are you talking about The building needs over 200 million in maintenance to stay operational. That was from GSA.
March 26Mar 26 Bibb: fate of Cleveland Federal Building “concerning” By Ken Prendergast / March 26, 2025 Earlier this month, the Trump Administration offered hundreds of federal buildings and properties for sale or other disposition but quickly withdrew the list in the face of national criticism. Now, the General Services Administration is issuing a new, much smaller list of eight federal buildings to be cast off in an “accelerated disposition.” MORE: https://neo-trans.blog/2025/03/26/bibb-fate-of-cleveland-federal-building-concerning/ "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
March 26Mar 26 26 minutes ago, KJP said: Bibb: fate of Cleveland Federal Building “concerning” By Ken Prendergast / March 26, 2025 Earlier this month, the Trump Administration offered hundreds of federal buildings and properties for sale or other disposition but quickly withdrew the list in the face of national criticism. Now, the General Services Administration is issuing a new, much smaller list of eight federal buildings to be cast off in an “accelerated disposition.” MORE: https://neo-trans.blog/2025/03/26/bibb-fate-of-cleveland-federal-building-concerning/ Would be nice if the Trump administration would communicate their strategy to the American people rather than just taking random actions - like offering hundreds of buildings for sale. -Is the goal to move more workers to remote and save the building costs? -Is the goal to move workers to more cost effective spaces and, if so, have those properties been identified or do they need to be built -Are we looking to move out of expensive jurisdictions to lower cost jurisdictions to save taxpayer $$s I'm sure the random, chaotic nature of these Trump/DOGE actions is part of a strategy but they are dealing with people's lives We owe it to our friends, neighbors and family members that work for the government to communicate what the plans are Saving money is great - but these are our countrymen - and these savings are not supposed to just be for now but for the long-term. There is no need for this chaos
March 27Mar 27 Could The A.J. Celebrezze Building turn into a candidate for retrofit for the courthouse tower ? Build onto the back side a tower that has the courtrooms needed. The security needed for the courts is already built into the tower
March 29Mar 29 On 3/27/2025 at 10:45 AM, GISguy said: I bet it gets sold to an american oligarch and is leased back to the federal government. The federal building needs 200 million plus sunk into it just to stay operational.
March 29Mar 29 https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.gsa.gov/system/files/FY2020%20Cleveland%20OH%20Anthony%20J%20Celebrezze%20Federal%20Building.pdf&ved=2ahUKEwiUm6n2mK6MAxVZM1kFHcUDCVQQFnoECHoQAQ&usg=AOvVaw0-cDFN2jYybnqqNl_Ns3Y- @stpats44113 just curious ...where does your $200M estimate come from? This GSA document from 2019 claims $70-something M for interior renovation.
March 29Mar 29 didn't they pour 120 million into it ten years ago. and there have been major repairs going on there for as long as I can remember. they are currently redoing the ground floor facade. things a money pit, no matter who owns it Edited March 29Mar 29 by Whipjacka
March 29Mar 29 1 hour ago, DO_Summers said: https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.gsa.gov/system/files/FY2020%20Cleveland%20OH%20Anthony%20J%20Celebrezze%20Federal%20Building.pdf&ved=2ahUKEwiUm6n2mK6MAxVZM1kFHcUDCVQQFnoECHoQAQ&usg=AOvVaw0-cDFN2jYybnqqNl_Ns3Y- @stpats44113 just curious ...where does your $200M estimate come from? This GSA document from 2019 claims $70-something M for interior renovation. I work in the building occasionally and I am on GSA’s regional mailing list. That’s was GSA’s estimate of 200M to keep the building operational which really means 250M. Interior renovation’s have nothing to do with it @Whipjacka. I’ve overseen a few renovation projects in the building and every time we tried to tap into a water source, the pipes would crumble. The 200-250M estimate is for guts alone. Nothing to do with renovation.
March 31Mar 31 I posted this in the Random Developments thread because this is no longer just about the federal building. It's about multiple buildings downtown..... "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 1May 1 Office leasing cools in first quarter of 2025By Ken Prendergast / May 1, 2025Greater Cleveland's office market in the first quarter of this year saw its second-lowest amount of leasing activity, as measured in square feet, in the last 16 years since the Great Recession. Only the fourth quarter of 2021, following the pandemic and the rise of remote working, saw less leasing activity locally since 2009.MORE:https://neo-trans.blog/2025/05/01/office-leasing-cools-in-first-quarter-of-2025/ "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 5May 5 Cleveland's federal Celebrezze building faces uncertain futurehttps://www.crainscleveland.com/real-estate/clevelands-federal-celebrezze-building-faces-uncertain-future
May 5May 5 Don't want to lose this building. The new skin is a nice upgrade, well except for the eastern and northern tops which were purposely left off. Still don't get that but nevermind. Now we face a greater problem which is can it be converted to a new use? I was perfectly happy to keep it as a federal building but with the Trump administration all bets are off.
May 5May 5 I believe one of the purposes of the new skin was for bomb-proofing. Is that no longer a concern for federal buildings?
May 6May 6 It was most definitely both:https://www.cleveland.com/architecture/2011/01/federal_government_reveals_des.htmlGSA designs for new Celebrezze building facades will mute the 1960s look of the towerUpdated: Jan. 27, 2011, 5:00 p.m.|Published: Jan. 27, 2011, 4:00 p.m.The re-skinning of the Anthony J. Celebrezze Federal Building in downtown Cleveland will be a skyline-sized loss and gain.Under a $121 million project that grew out of President Barack Obama’s stimulus program, the government will wrap the 32-story tower in a new outer skin of glass and aluminum to cut energy costs and make the building harder to damage with a bomb.
May 28May 28 Adcom is planning to expand its office space on the fourth-floor at 1468 West 9th. "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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