Latest News

Latest News

Cushman & Wakefield | CRESCO Real Estate Acted as the Lead Transaction Advisor for the Disposition of a Strategic Downtown Property

Rico Pietro, Principal with Cushman & Wakefield | CRESCO Real Estate acted as the lead transaction advisor for the disposition of a strategic downtown property on the bank of the Cuyahoga River. The $3,000,000 sale includes eight (8) assets totaling an estimated 144,000/SF across 7.7 acres on December 21st, 2016. The property is located just […]

Forest City Sells Flats Properties to Cleveland-Area Investor Group Eyeing Development

Full Article CLEVELAND, Ohio – Jumping at the chance to own a large potential development site near the Cuyahoga River, local investors have purchased 7.7 acres and eight buildings in the Flats from Forest City Realty Trust, Inc. Public records show that an investor group led by Joel Scheer paid $3.5 million Tuesday for a motley […]

Top 10 Real Estate And Development Stories of 2016

Full Article When constructions hit peak pace in the real estate cycle, it’s as interesting and varied as watching an afternoon of horse races — and with almost as many jockeys. The 20-story One University Circle apartment building began rising in June on its way to becoming the tallest apartment building to go up in […]

45 Erieview Office Tower in Downtown Cleveland, Half Empty, Sells in Off-Market Deal

Full Article CLEVELAND, Ohio – A New York investor quietly purchased a half-empty downtown Cleveland office building this week, but the firm’s redevelopment plan hinges on jobs – not another residential conversion. Somera Road, Inc., acquired 45 Erieview Plaza on Monday, in a transaction that didn’t generate any public filings. The seller was an affiliate of Chicago-based Highlands […]

K&D Group Regains Lost Flats Office Building

Full Article The largely empty Stonebridge Center office building in the Flats has a new owner that’s really the old owner after it languished two years in a lender’s hands. K&D Group of Willoughby won an online auction for the 60,000-square-foot building at 2019 Center St. for another go at the property, this time through Stonebridge […]

Team NEO is Trying to Bolster Listing Info for Available Buildings, Land

Full Article To put the region and the state in the running for more manufacturing expansions, Team Northeast Ohio, the business attraction and retention group that serves an 18-county region, and JobsOhio, the state’s business attraction nonprofit, are developing plans to get a better handle on the inventory of available buildings and vacant land that […]

Forest City lists Post Office Plaza for lease, potential sale

Full Article By awarding an exclusive leasing agreement to the Cushman & Wakefield CRESCO brokerage for Post Office Plaza that includes its potential sale, Forest City Realty Trust Inc. (NYSE: FCEA,FCEB) has signaled the availability of one of the largest office vacancies in downtown Cleveland. According to online realty data service CoStar, the 435,000-square-foot building at Tower City Center has 267,000 […]

Cushman & Wakefield | CRESCO Real Estate selected as exclusive leasing agent for Post Office Plaza

Cushman & Wakefield | CRESCO Real Estate is pleased to announce its appointment as exclusive leasing agent for the iconic Post Office Plaza located in downtown Cleveland. Forest City Realty Trust, affiliated with the ownership of Post Office Plaza, and CRESCO Real Estate have worked together on a number of transactions recently, including the recent […]

Forest City Realty Trust sells Cleveland’s iconic Terminal Tower

Full Article K&D Group has purchased Terminal Tower at Tower City, Cleveland’s second tallest building, from Forest City Realty Trust. The 584,000-square-foot building, which stands at 771 feet with 52 floors, was originally built as an office building above the Cleveland Union Terminal in 1928.  It was the tallest building in North America, outside of […]

Rico Pietro, Managing Partner at Cushman & Wakefield | CRESCO Real Estate Represented K&D Group in Terminal Tower Sale

Cushman & Wakefield | CRESCO Real Estate, downtown Cleveland’s preeminent commercial real estate firm, represented K&D Group in the purchase of Terminal Tower at Tower City from Forest City Realty Trust. Rico Pietro, a Managing Partner at CRESCO, was the sole broker on the transaction. Doug Price and Karen Paganini, Principals at K&D Group will […]

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