January 22, 2010

East Ohio Gas Building - Closed Bid Auction

Crains's Cleveland reported that the East Ohio Gas building may finally be sold under a closed-bid auction. We hope if it is purchased, a strong buyer steps up. It's a great location with a solid attached garage, but, as a number of downtown buildings, is in need of some serious "value-added attention." The retail corner space has been vacant for what seems like years and continues to be an eyesore. An auction sale will hopefully allow a new landlord to offer competitive rents and start attracting some more tenants back into the CBD. Maybe this will mark the beginning of a renewal for downtown office space... but wait, we still have to contend with McDonald Investments (maybe) and Huntington (probably). But here's hoping.
Photo credit: STAN BULLARD


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