PNC has big plans for Downtown Cleveland

PNC Center, a 35-story, 46-year-old office tower in Downtown Cleveland is undergoing major
renovations and is activating its four-story annex at left, including adding several ground-floor
retail spaces along Euclid Avenue (NEOtrans). CLICK IMAGES TO ENLARGE THEM.

It’s perhaps the best news for Downtown Cleveland’s troubled office market since 2020 when Sherwin-Williams announced it would build a new headquarters here. PNC Bank today confirmed to NEOtrans it will spend big on improving its own skyscraper — including adding new storefronts along Euclid Avenue.

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There is life after foreclosure Downtown

A good story is happening at the Fifth Third Bank tower in Downtown Cleveland after
the property fell into foreclosure under the prior owner. Building improvements and
new tenants are offering a new outlook for the 35-year-old building (LoopNet).
CLICK IMAGES TO ENLARGE THEM.

Fifth Third Bank tower shows there is life after foreclosure. Ownership of the 28-story tower, built in 1991 at 600 Superior Ave. in Downtown Cleveland, transferred in 2024 from Hertz Investment Group to its lender, an affiliate of Prime Group Finance of San Francisco.

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Office market recovery to take ‘years’

The corner of Euclid Avenue and East 9th Street was the heart of Cleveland’s office market. In
the 1980s, nearly 60,000 office jobs were located within two blocks. Today, of the 10 built-as-
office-buildings of eight stories or taller seen here, three are vacant, three others were conver-
ted to residential/hotel uses, and four remain as occupied office buildings. The PNC Bank
Plaza at center is a healthy outlier (NEOtrans). CLICK IMAGES TO ENLARGE THEM.

Newmark’s market reports are well-regarded in the real estate industry. Their data is typically dry, yet spot-on. And they almost always avoid drama in their analyses. But their second-quarter 2026 office market report for Greater Cleveland added some unusually colorful adjectives to their data.

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Soccer stadium partners with Rock Entertainment Group

The proposed Cleveland soccer stadium in the Gateway South District offers branding, sponsor-
ship and marketing opportunities that Rock Entertainment Group will help realize (CSG).
CLICK IMAGES TO ENLARGE THEM.

Cleveland Soccer Group (CSG) today announced that Rock Entertainment Group (REG) – the organization behind the Cleveland Cavaliers, Rocket Arena and Cleveland’s incoming WNBA franchise – will lead the naming rights and entitlement sales process for South Gateway Stadium, CSG’s planned 10,000-seat venue on the south side of downtown Cleveland.

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Demolition for Bridgeworks starts

Workers and their heavy equipment began taking down the former Cuyahoga County Engineers’
buildings at the west end of the Detroit-Superior Bridge in Cleveland’s Ohio City neighborhood
(NEOtrans). CLICK IMAGES TO ENLARGE THEM.

Demolition crews started working this week to raze the former Cuyahoga County Engineers’ garage and lab complex at the northeast corner of the Detroit-Superior Bridge and West 25th Street for the long-planned, multi-family Bridgeworks development.

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NE Ohio wins big, $160M advanced manufacturing grant

Case Western Reserve University of Cleveland led the Northeast Ohio
Strengthening Manufacturing for American Resilience through
Technology. One place where this new effort could be supported is the
university’s new $300 million Interdisciplinary Science & Engineer-
ing Building which is nearing completion (Harrison Whittaker).
CLICK IMAGES TO ENLARGE THEM.

Hundreds of regions competed for a large, prestigious grant from the U.S. National Science Foundation (NSF) to boost advanced manufacturing. But it was a 70-member coalition from Northeast Ohio that came out on top today.

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Renovations helping to preserve historic Ohio City

An historic mansion at 3117 Franklin Blvd. is being converted into apartments
as part of the Franklin Yards development (Harrison Whittaker).
CLICK IMAGES TO ENLARGE THEM.

A neglected building can drag down an entire block, but restoring an obsolete structure can do the exact opposite, creating renewed activity that cascades to nearby businesses. In Cleveland’s Ohio City neighborhood, a wave of renovation projects could serve as a model for preserving the city’s dwindling stock of historic buildings.

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