Another Cleveland-area shopping center sold

Fairview Centre has been serving the community for 85 years. The once-linear retail
strip along and near Lorain Road was significantly reconstructed in the mid-1990s
with a new grocery store and other retail spaces set back behind a large parking
lot (Google). CLICK IMAGES TO ENLARGE THEM.

For the sixth time this year, another large, multitenant retail center in Greater Cleveland has sold.  JLL Capital Markets announced today that it arranged the $13.8 million sale of Fairview Centre, a 147,602-square-foot, grocery-anchored shopping center in Fairview Park.

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Downtown Lakewood project starts

Construction equipment showed up yesterday and crews began working today to prepare
the Downtown Lakewood site for construction. That includes cordoning off parking spaces
on Belle Avenue, relocating a bus stop on Detroit Avenue and filling in the pit that has
characterized the site for the past five years. The house at far right is now a construction
office for Lakewood Common (NEOtrans). CLICK IMAGES TO ENLARGE THEM.

At long last, construction crews are on location today to begin site preparation for the $115 million Downtown Lakewood mixed-use development called Lakewood Common. It’s a sign of progress that’s been pursued by two mayors and two different developers since the city-owned Lakewood Hospital was closed by Cleveland Clinic in 2016.

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St. Clair-Superior is Mandel’s next big bet

Looking west along Superior Avenue toward Downtown Cleveland, the St. Clair-Superior
neighborhood is to the right of Superior where Cleveland’s Mandel Foundation is making
big investments to support dedevelopment efforts including new murals seen at the
bottom (SCSDC). CLICK IMAGES TO ENLARGE THEM.

If you’ve noticed the Jack, Joseph and Morton Mandel Foundation‘s name on some recent, significant investments in Cleveland’s St. Clair-Superior neighborhood, that’s not just because applicants from that area happened to submit some compelling grant requests at roughly the same time.

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New Browns’ Brook Park stadium to have among least parking in NFL

Green Bay Packers fans walk to Lambeau Field from their car, parked on the front lawn
of a house in a residential neighborhood near the stadium. Many homes in Green Bay
and neighboring Ashwaubenon have offered stadium parking for decades (Used with
permission from NBC 26 WGBA-TV). CLICK IMAGES TO ENLARGE THEM.

Last night, in the hours before the Green Bay Packers hosted the Washington Commanders for a football game at historic Lambeau Field, fans did what they do everywhere else. They parked their cars, maybe did a little tailgate partying before walking to the stadium and paid a handsome price for the privilege.

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McCafferty Center redo gets warm reception

A birds-eye view rendering of the southwest corner of the affordable senior apartments,
proposed to be built on the current site of the McCafferty Health Center on West 44th
Street, at left, and Lorain Avenue in Cleveland’s Ohio City neighborhood (City
Architecture). CLICK IMAGES TO ENLARGE THEM.

Plans for demolishing a city-owned health center in Cleveland’s Ohio City neighborhood and replacing it with 72 affordable senior apartments over offices plus community spaces got a warm reception today from the city’s Landmarks Commission.

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Cleveland developments get $54M from Port

Two developments that were awarded financial assistance today by the Port of Cleveland’s
board of directors are seen here — The Bell, at left, and Erieview Tower (Google).
CLICK IMAGES TO ENLARGE THEM.

More than $54 million in bonds were awarded today by the Port of Cleveland for three Cleveland real estate developments including a luxury downtown hotel and an Ohio City apartment complex.

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Cleveland Clinic sells, leases back 24 facilities

In Northern Ohio and Florida, 24 Cleveland Clinic properties were sold to MedCraft Health-
Care Real Estate. The Clinic is then leasing back the spaces to continue their operations and
services at those sites (Newmark). CLICK IMAGES TO ENLARGE THEM.

A large-scale sale-leaseback of 24 facilities in Ohio and Florida is underway, and it’s Greater Cleveland’s largest employer that’s initiating it. The sale-leaseback was sought by Cleveland Clinic, and the buyer is MedCraft HealthCare Real Estate. a suburban Minneapolis-based health care real estate company.

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