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The Centennial - Receiver Sale 925 Euclid Ave 1,450,000 SF Vacant 4-Star Office Building Cleveland, OH 44115 For Sale
Investment Highlights
- Gordon Brothers has been engaged by John K. Lane of Inglewood Associates, LLC, the court appointed receiver for the 1.45MM SF property at
- and The Huntington Building. A commercial foreclosure action has been filed by Deutsche Bank against HH Cleveland Huntington, LP
- Transformational Mixed-Use Development (TMUD) which is an Ohio tax credit designed to support large-scale, "transformational" construction projects
- at 925 Euclid Avenue in Cleveland, Ohio which is known as The Centennial and formerly as The 925 Building, Union Trust Building,
- Certain developer tax credits are available along with the redevelopment opportunity, which include:
- Historic tax credits (HTCs) provided for historic structures & Brownfield tax credits which are for the cleanup and redevelopment of contaminate.
Executive Summary
Gordon Brothers has been engaged by John K. Lane of Inglewood Associates, LLC, the court-appointed receiver for the 1.45MM SF property at 925 Euclid Avenue in Cleveland, Ohio which is known as The Centennial and formerly as The 925 Building, Union Trust Building, and The Huntington Building. A commercial foreclosure action has been filed by Deutsche Bank against HH Cleveland Huntington, LP.
Certain developer tax credits are available along with the redevelopment opportunity, which include:
-Transformational Mixed-Use Development (TMUD) which is an Ohio tax credit designed to support large-scale, "transformational" construction projects that blend residential, commercial, and retail uses
-Historic tax credits (HTCs) provided for historic structures
-Brownfield tax credits which are for the cleanup and redevelopment of contaminated or underutilized industrial/commercial properties providing the developer with tax deductions for remediation costs or credits for site improvements
Certain developer tax credits are available along with the redevelopment opportunity, which include:
-Transformational Mixed-Use Development (TMUD) which is an Ohio tax credit designed to support large-scale, "transformational" construction projects that blend residential, commercial, and retail uses
-Historic tax credits (HTCs) provided for historic structures
-Brownfield tax credits which are for the cleanup and redevelopment of contaminated or underutilized industrial/commercial properties providing the developer with tax deductions for remediation costs or credits for site improvements
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Office
Property Subtype
Office/Residential
Building Size
1,450,000 SF
Building Class
B
LoopNet Rating
4 Star
Year Built/Renovated
1924/1991
Percent Leased
Vacant
Building Height
22 Stories
Typical Floor Size
65,909 SF
Slab To Slab
10’
Building FAR
18.39
Lot Size
1.81 AC
Opportunity Zone
Yes
Zoning
GR
Parking
1,100 Spaces (0.76 Spaces per 1,000 SF Leased)
Amenities
- Banking
- Conferencing Facility
- Property Manager on Site
- Restaurant
1 1
Very walkable
80/100
Exceptionally drivable
90/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 101-36-013 | Improvements Assessment | $4,973,945 CAD |
| Land Assessment | $4,740,756 CAD | Total Assessment | $9,714,701 CAD |
Property Taxes
Parcel Number
101-36-013
Land Assessment
$4,740,756 CAD
Improvements Assessment
$4,973,945 CAD
Total Assessment
$9,714,701 CAD
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The Centennial - Receiver Sale | 925 Euclid Ave
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