847-780-8063
55-75 Erieview Plz, Cleveland, OH for Sale
Office - FOR SALE
1/64
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55-75 Erieview Plz
Cleveland, OH 44114
Avenue District


HIGHLIGHTS

  • Receivership auction opportunity for a 278,772 SF office campus in Downtown Cleveland.
  • Value-add investment with 57% occupancy and significant lease-up potential.
  • Anchored by the City of Cleveland, occupying 116,816 SF.
  • Renovated in 2017 with upgrades to common areas, elevators, HVAC, and lobby.
  • Located across from the $218M Erieview Tower redevelopment project.
  • Immediate access to I-90, transit, and Cleveland's major business and entertainment destinations.

OVERVIEW

Auction Date: 9/8-9/10. Starting Bid: $1,750,000 The Fives at Erieview is a 278,772-square-foot office complex comprising of three (3) 7-story buildings at 55–75 Erieview Plaza located in downtown Cleveland, Ohio, directly across from the $218M redevelopment at the Erieview Tower. Originally constructed in 1968 and renovated in 2017, has undergone significant capital investment (2017) across the lobby, common areas, elevators, HVAC, and lower-level walkway. At 57% occupancy, the Property is largely occupied by the City of Cleveland, leasing 116,816 square feet. Other tenants include The Main Squeeze Cafe, 1144 Legal Group LLC, Sobel Wade & Mapley, Salus Development, APB & Associates, and Sigma of Ohio. The Property presents a compelling value-add opportunity via lease-up, allowing a new owner to drive immediate value through the absorption of available space. Exceptionally well located in the heart of Downtown Cleveland, the Property provides convenient access to major transit and Interstate-90, along with proximity to prime destinations such as Huntington Bank Field, Progressive Field, Rocket Mortgage Field House, Cleveland State University, Rock & Roll Hall of Fame, and Tower City Center. Additionally, the building is surrounded by many world-class hospitality options including the Ritz-Carlton, Marriott, Hyatt, and Hilton.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

The Fives at Erieview Plaza

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

7

BUILDING CLASS

B

YEAR BUILT

1968

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.94 AC

LAND SF

40,946 SF

ZONING

SI-C6

APN/PARCEL ID

101-34-044,101-34-048,101-34-051

ASK ABOUT THIS PROPERTY

Matt TarshisFrontline Real Estate PartnersMore Info
847-780-8063

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Matt TarshisFrontline Real Estate PartnersMore Info
847-780-8063

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.