Tuesday, May 10, 2011

Office Trends Report Q1



The site of the new convention center and Medical Mart is taking shape, as properties are
demolished and ground excavation gets underway. Construction of the new offi ce tower
and hotel in the Flats has resumed and this phase will be completed in mid 2013. Plans for
the new casino along the Cuyahoga River are being fi nalized; however, offi ce tenants are
currently being relocated from the Higbee Building to make room for a temporary casino. An
iconic element of downtown’s facelift will be the new Inner Belt Bridge. The bridge replaces
the existing overpass where three interstates converge. Aiding in the recovery from a glut
of class B and C space, is the removal of over 300,000 square feet of vacant space from the
inventory. 113 St. Clair was demolished as part of the new convention center site and Euclid-
Ninth Tower is being converted into housing. Alternative uses for several Class B and C offi ce
buildings are being discussed and will have a positive impact on the statistical base in the
next 20 months.

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