Information, opinions and thoughts on the Northeast Ohio commercial real estate market from Terry Coyne, Executive Vice President in the Cleveland office of commercial real estate services firm, Grubb & Ellis.
Monday, December 19, 2011
AmTrust Financial To Occupy 800 Superior
Great news for downtown Cleveland! AmTrust Financial Services announced it will be occupying between 250,000 – 300,000 sf of the former Key Bank Center office building, located at 800 Superior Ave., in Cleveland. New York based AmTrust plans to create up to 1,000 jobs over the next three years, and move its current Seven Hills employees as well. Lower vacancy rates downtown and new jobs being created; all positive news for the city of Cleveland. How will this effect nearby neighbors? It’s speculated that the East Ohio Gas Building at 1717 East 9th St. will likely be redeveloped and/or sold for apartments. Currently the building is unoccupied. Both buildings are located in the NineTwelve District, whose goal is revitalizing the business and residential area.
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