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 add the property to its diverse and ever growing inventory of
property in the central business district. K&D has not publicly released its plans but are peerless leaders in residential redevelopment in the downtown market.
The Terminal Tower is Cleveland’s second tallest building, standing at 771 feet with 52 floors covering a total of 584,000 SF. The Tower was originally built as an office building above the Cleveland Union Terminal, which opened in 1928. It was the tallest building in North America,
outside of New York, until the completion of the Prudential Center in Boston in 1964.
This centerpiece and the mascot of Cleveland is not only known for its appearance and history, but is well known for its 508 LED lights that shine over Cleveland. These lights can be seen in various colors to
support local groups, holidays and even Cleveland’s sports teams.
“Our commitment to offering best in market luxury living for Cleveland residents will only improve with the market’s premier address. Rico
Pietro brought us Terminal Tower and worked through complex business terms to deliver a seamless transaction for K&D.”- Doug Price, CEO of K&D.
For more information regarding the transaction of Terminal Tower, please contact Rico Pietro.
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