City: Cleveland

The removal of 1 million square feet of so-called "zombie," or vacant, office space from Cleveland's office market has resulted in a sharp decline in the city's vacancy rate, to 17.9 percent. That rate is the lowest it's been since ...

Cleveland Business Journal Hertz Investment Management is offering for sale Fifth Third Center, a 513,152-square-foot office property in Cleveland. The Woodland Hills, Calif., investment firm had acquired it in 2015 for $53.8 million. The property, at 600 East Superior Ave., ...

Cleveland Business Journal Playhouse Square is offering for sale the Lumen, a 318-unit apartment property in Cleveland. The local developer tapped JLL to market the property, which is expected to sell for $159 million. Playhouse Square developed the property in ...

Crain's Cleveland Business Lone Star Properties has paid $34.25 million, or $236.21/sf, for the ABB building, a 145,000-square-foot office and industrial property in Highland Hills, Ohio. The Dallas company purchased the property as part of a 1031 exchange from a ...

Commercial Real Estate Direct Staff Report The Cleveland industrial market saw 814,115 square feet of negative absorption during the second quarter, adding to the 90,482 sf of negative absorption in the first, according to Newmark, making it an anomaly among ...

First National Realty Partners has paid $38.3 million, or $275.78/sf, for Cedar Center South, a 138,881-square-foot retail center in University Heights, Ohio, about nine miles east of Cleveland. The Red Bank, N.J., investment manager, which owns 31 retail properties with ...

Easterly Government Properties Inc. has acquired the 61,384 square-foot office property at 925 Keynote Circle in the Cleveland suburb of Brooklyn Heights, Ohio., from a local investor group. The three-story property, which was built in 1982, and is fully leased ...

KKR & Co. has provided $72.9 million of financing for the Beacon, a 187-unit apartment building in downtown Cleveland. The seven-year loan, which pays a four percent coupon, was arranged by Berkadia. It allowed the 29-story property's developer and owner, ...

Cleveland Business Journal Midwest Development Partners has broken ground on Artisan Circle Square, a 298-unit apartment property in Cleveland. The local developer is building the property at the corner of Chester Ave. and Euclid Ave., five miles east of downtown ...

An affiliate of Cantor Fitzgerald has paid $30.8 million, or $182.52/sf, for the 168,750 square-foot industrial property at 10801 Madison Ave. in Cleveland. The New York investment bank, which sponsors a pair of non-traded REITs, bought the property from Weston ...