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Mentor firm Vecmar adds downtown Cleveland office
DAVID KORDALSKI
The Post Office Plaza office building in downtown Cleveland has leased office space to a Mentor company to aid its recruitment efforts for one of its units. The headquarters and other operations of Vecmar Computer Solutions will remain in Mentor.
Vecmar Computer Solutions of Mentor has leased space for a new office at Post Office Plaza in downtown Cleveland to aid it in recruiting talented technical staffers.
Nicholas Zitnik, Vecmar co-owner, said in a phone interview that the company expects to fill multiple positions thanks to growth and feels the downtown office will help in recruitment.
Cleveland s Artcraft Building is poised for apartment makeover
Michelle Jarboe/Crain s Cleveland Business
Elevator operator Duane Clemmons salts a step outside one of the entrances to the Artcraft Building in Cleveland s Superior Arts District.
Since 1919, the Artcraft Building on Superior Avenue has been a space for makers, from early 20th century textile workers to today s eclectic mix of artists studios and small businesses.
Now, the largest building in Cleveland s onetime garment district is poised to don a new look. A major apartment landlord is partnering with GBX Group, the property s owner, on a plan to transform Artcraft s sprawling, raw workspaces into roughly 159 apartments.
Cleveland apartment owners see brighter days ahead
Michelle Jarboe
The Lumen high-rise, which opened last year, is just one of two central downtown apartment buildings that are tall enough to alter the city s skyline. Most apartments downtown have been created by converting existing buildings to residential use.
Although downtown Cleveland apartment vacancy has hit 19%, according to online data source CoStar, Michael Sabracos, U.S. CEO of the Istanbul-based AltoPartners realty firm, is more optimistic than last year.
Last month AltoPartners opened Euclid Grand, a $90 million conversion of the former John Hartness Brown complex at 1101 Euclid Ave., to 200 apartments from long-vacant office space. He won t say how many suites are leased, but he s bullish on the market and Cleveland.
Lender files to foreclose on 55 Public Square in effort to nudge Optima toward a sale
Michelle Jarboe/Crain s Cleveland Business
The facade of the 55 Public Square office building acts as a mirror, reflecting Terminal Tower on the other side of downtown Cleveland s Public Square.
A lender is seeking to foreclose on the 55 Public Square office tower in downtown Cleveland, in a legal maneuver designed to accelerate a sale.
On Monday, Dec. 14, a local investor group that holds a note on the 22-story building filed a foreclosure lawsuit in Cuyahoga County Common Pleas Court. The move came on the heels of a $14 million judgment against an affiliate of Optima Ventures, the property s embattled owner.