Ownership stake in The Bell to be auctioned off

The former Ohio Bell headquarters, now The Bell mixed-use redevelopment, has
an ownership interest up for grabs at an auction scheduled with Maltz Auctions
on July 12 (KJP). CLICK IMAGES TO ENLARGE THEM.

With a certificate of occupancy in hand and leasing to start in two weeks, The Bell, 45 E. 9th St. in Downtown Cleveland, will be the subject of an online auction scheduled for next month. The auction is intended to make available a portion of the interest in a general partnership that owns the office-turned-residential building.

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Ferry Cap & Set Screw razed for new development

Demolition equipment sits atop large piles of debris left from the former Ferry
Cap & Set Screw Company on Scranton Road in Cleveland’s Tremont neigh-
borhood. WXZ Development leveled the building to create a 5-acre mixed-
use development site (KJP). CLICK IMAGES TO ENLARGE THEM.

Another big, old vacant factory in Cleveland has been knocked down. But this five-story factory, the former Ferry Cap & Set Screw Co., 2151 Scranton Rd. in Tremont, was recently the subject of a redevelopment plan. Its demolition by the owner/developer and the lack of a submitted plan for the site’s reuse is an intriguing turn of events.

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Port finances Cleveland, Mayfield apartments & more

The Gates Mills Villa Apartments in the Eastgate area of Mayfield Heights
will be renovated for $48 million thanks to financing arranged and approved
 today by the Cleveland-Cuyahoga County Port Authority (Google).
 CLICK IMAGES TO ENLARGE THEM.

Two major, multi-family residential projects, one in Cleveland and the other in Mayfield Heights, got their financing packages approved today by the Cleveland-Cuyahoga County Port Authority. About $47 million in revenue bonds were approved for the two projects which represent a combined investment of $65 million.

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Mortgage spat puts downtown building on market

The four-story office building 1020 Bolivar next to Downtown Cleveland’s Erie
Street Cemetery and the under-construction Ten60 Bolivar apartments has hit the
market after a receiver was approved by a court to oversee the property’s sale to
help resolve a foreclosure (Newmark). CLICK IMAGES TO ENLARGE THEM.

In a weak office market, another office property has been listed for sale. But this time, a Downtown Cleveland property is hitting the market because Cuyahoga County Common Pleas Court Judge Cassandra Collier-Williams ordered it to, so as to resolve a foreclosure complaint.

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Medical warehouse wins pitch competition

Cleveland-based BridgePort Group, a supply chain consultant, plans a 250,000-
square-foot, temperature-controlled warehouse for the medical and pharmaceutical
industries along Cleveland’s Opportunity Corridor at East 93rd Street. Its vision
won it first prize in the inaugural Cleveland Equitable Development Initiative
competition (BridgePort). CLICK IMAGES TO ENLARGE THEM.

An ambitious and innovative plan to construct a high-tech cold storage facility for medical and pharmaceutical uses along the Opportunity Corridor Boulevard has secured the top prize in the first Cleveland Equitable Development Initiative (CLE-EDI) real estate developer pitch competition. The competition was spearheaded by Cleveland Development Advisors and Cleveland Neighborhood Progress.

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Northern Ohio Blanket Mills ready for next role

In this northward-looking view, the Northern Ohio Blanket Mills is fully
redeveloped. However, some last-minute refinements are being provided
to the site and new commercial tenants are being accommodated. The
brick street across the image is St. Rocco’s Court with Fulton Road and
the Lin Omni Square on the left. West 33rd Street is to the extreme
right (Dimit). CLICK IMAGES TO ENLARGE THEM.

For more than 15 years, the landmark Northern Ohio Blanket Mills, 3160 W. 33rd St., sat empty and decaying. But this summer, following a $30 million renovation, residential and commercial tenants are moving into the 19th-century factory in Cleveland’s Clark-Fulton neighborhood that was once the country’s largest manufacturer of woolen horse blankets and carriage robes.

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Miceli Dairy plans $128M expansion, 250 new jobs

Miceli Dairy Products Co. facilities are due to expand in a three-phase development.
This view looks south on East 90th Street at the company’s offices and plant in Cleve-
land’s Buckeye-Woodhill neighborhood. The first phase of expansion will be just
beyond these buildings and include new warehousing and transportation
facilities (Google). CLICK IMAGES TO ENLARGE THEM.

Cleveland’s booming food industry on the city’s East Side continues to boom. The next explosive expansion could more than double the size of Miceli Dairy Products Co., 2721 E. 90th St., in Cleveland’s Buckeye-Woodhill neighborhood. The company, which turned 100 years old last year, is planning an investment of about $128 million divided among three phases of expansion that promises up to 250 new jobs.

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