Two sources say the site is 2828 Clinton Ave., the current location of one of the region's most well-known and oft-photographed businesses -- the 94-year-old Cleveland Vibrator Company which will relocate from the site. The downtown company seeking to move to the site is The Adcom Group, a full-service marketing and communications firm, according to two other sources.
However, Adcom CEO Joe Kubic would not confirm specifics at this time.
"I personally, along with some other partners, are in the process of buying some commercial property in Ohio City," he wrote in an e-mail. "We haven’t yet finalized our plans for it though. It is certainly a possibility that Adcom may relocate there at some point, but we are happy in our current location as of now."
Adcom is headquartered at 1370 W. 6th St. in downtown Cleveland's Warehouse District, above Starbucks Coffee.
The Adcom Group's Warehouse District HQ is becoming constrained by the company's rapid growth. The communications and marketing firms anticipates further growth and needs more office space (Google). |
This would be Snavely's second Hingetown development. Last year, at the corner of Detroit Avenue and West 25th Street, it completed construction of The Quarter -- 194 apartments above 30,000 square feet of ground-floor commercial space. The commercial space is fully leased and the residential units are 93 percent leased, according to The Quarter's Web site. The $60 million development also involves the renovation of the historic Forest City Bank Building on the other side of Detroit with ground-floor commercial uses and 38 affordable apartments above.
Sources do not have information yet as to how tall the proposed mixed-use building might be or when demolition and construction might begin. Contrary to Kubic's statement, other persons close to the project say time is of the essence. Adcom reportedly expects to double in size in the coming years and needs more space soon.
Adcom was founded in 1990 and today has more than 110 employees although Kubic wouldn't clarify how many. The employment data comes from news coverage last year about 100-employee Adcom's purchase of fellow ad firm Arras Keathley that had 10 employees.
The Cleveland Vibrator site is reportedly under a sale contract but has yet to close. Terms of the deal were unavailable. In total, the land and buildings on the 14 parcels are appraised by the county at a combined value of $510,000 for tax purposes. Cleveland Vibrator has already begun a search for its new location and hopes to find a new home nearby soon, a source said.
Its current site is surrounded by new developments, in addition to Snavely's Quarter. Northward, across Church Avenue, Hemingway Development is building its $60 million, mixed-use Church & State project, featuring an 11-story building and a 6-story building. In the opposite direction, across Clinton Avenue, Casto will soon begin constructing its $22 million, 119-unit Dexter Place apartments. To the east, across West 28th, the $24 million West 25th Street Lofts were renovated a few years ago with 83 apartments over 9,600-square-feet of commercial space.
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