The Texas-based buyer group plans to transform the building into apartments, in a $102 million project that won sought-after state historic preservation tax credits last year.
Strong demand, tight supply will continue for industrial real estate in 2022 crainscleveland.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from crainscleveland.com Daily Mail and Mail on Sunday newspapers.
The half-acre parking lot at 1290 Old River Road has long been seen as a potential realty development site. However, the parks system said it acquired the property to protect public access to the river and to provide additional green space to support recreational uses of the area.
Cumberland Development LLC of Cleveland has listed for sale with the Newmark real estate brokerage its Cleveland lakefront apartments and the building containing the Nuevo Modern Mexican & Tequila Bar restaurant.