American Greetings to build new headquarters at Crocker Park in Westlake - Cleveland Business News - Northeast Ohio and Cleveland - Crain's Cleveland Business

American Greetings to build new headquarters at Crocker Park in Westlake - Cleveland Business News - Northeast Ohio and Cleveland - Crain's Cleveland Business

And the winner is … Westlake.


Greeting card maker American Greetings Corp. (NYSE: AM) said it plans to establish a new world headquarters in Westlake and exit its longtime corporate home in Brooklyn for a new location at Crocker Park.

The company plans to develop a 700,000-square-foot complex on a 13-acre site off of Main Street at Crocker Park. The company plans to move in the new HQ, dubbed “American Creative Studios,” in 2014, according to a letter that CEO Zev Weiss sent to employees and a summary about the project the company distributed.

Great Article by Stan Bullard

roll (tax) credits: what the motion picture tax credit means for cleveland

roll (tax) credits: what the motion picture tax credit means for cleveland

Hollywood might be known as the Dream Factory, but it has begun producing something far more concrete for Cleveland: jobs and economic growth.Thanks to the recently passed Ohio Motion Picture Tax Credit, Cleveland already is experiencing a considerable boost in the quantity and quality of movie productions filming here. While bringing in temporary shoots is a welcome shot in the arm, that's only the opening scene, says Ivan Schwarz, executive director of the Cleveland Film Commission.

Industrial Market Trends Q1

 

THE BOTTOM LINE
• Demand accelerated to over 31 million square feet. This is the strongest net absorption

reading since the fourth quarter of 2007 and a 30-percent increase over the fourth

quarter of 2010.

• Supply remained constrained with only 4 million square feet of completions, of which

just 120,000 square feet is available for lease.

• U.S. vacancy and availability rates declined 30 basis points during the quarter to 10.1

percent and 13.3 percent, respectively.

• Asking net rental rates have risen slightly during the quarter, with the increase in rental

rates experienced within the warehouse/distribution property type being offset by the

decline within the general industrial sector.

• Minimal new construction, tenant-favorable rents and rising demand will drive the vacancy

rate down closer to 9 percent than 10 percent by the end of 2011.

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Mike Petrigan
Senior Vice President
216.453.3017

mike.petrigan@grubb-ellis.com

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.54 Acres
Clear Height 12'

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mike.petrigan@grubb-ellis.com

Mike Petrigan
216.453.3017