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📬 In today’s edition:

• 🖨️ Two Cleveland printing dynasties just became one company

• 💡 PNC's consolidation bet on downtown Cleveland is getting bigger

• 💡 The Midline corridor just got a major industrial neighbor

📰 Cleveland Market Minute

Gateway 55 advances near Midline

With tenants in mind and a locally resurgent manufacturing market behind it, the long-proposed Gateway 55 light-industrial development is moving forward in the northern part of Slavic Village on Cleveland’s near-East Side.

According to the city’s Web-based permit portal, plans were submitted yesterday to the City of Cleveland’s Building Department for a multi-tenant, single-story, 166,000-square-foot big-box structure at 3000 E. 55th St., just south of the Opportunity Corridor Boulevard.

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PNC to move satellite offices downtown

When a big company like PNC Bank owns a large, underutilized office property and occupies leased office properties in the same metropolitan area, something’s got to give. The giver is reportedly PNC’s satellite offices. And the receiver is PNC Center in Downtown Cleveland.

According to sources who spoke to NEOtrans on the condition of anonymity, PNC executives have reportedly adopted a policy for its Greater Cleveland office spaces move employees from rented offices to PNC-owned offices. The satellite offices include those in Brecksville and possibly in Cleveland’s West Park.

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Two Cleveland printers ink merger

Two family-run, Cleveland-based printers that have been in business for a combined 230 years have decided to unite that experience into a single company.

While Foote Printing was incorporated in 1907, its founder Thomas Foote, a postman, began printing as a side business in 1887. The Duhr family took over operations from the Foote family in 1994. Brothers Printing began in 1915 and has been in the ownership of the Kaufman family ever since.

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🏠 Just Sold Spotlight – Bluff-Top Battery Park End-Unit with Unobstructed Lake Erie & Skyline Views, Rooftop Flower Terrace & Tax Abatement

📍 1218 W 74th St, Cleveland, OH 44102

• 💰 Sold Price: $679,677

• 📏 Size: 2,004 sq. ft.

• 📅 Year Built: 2016

• 🛏 3 Beds | 🛁 2 Full + 1 Half Bath

• 🚗 Attached 2-Car Garage (with storage racks)

• 🌳 Lot Size: 2,265 sq. ft.

• 🏫 School District: Cleveland Municipal School District

📝 Investor Takeaway

Four days on market and $58,277 above Zestimate this bluff-top Battery Park end-unit delivered one of the most decisive closings in this edition's Spotlight, and the view explains it entirely.

🏡 Neighborhood Insight

• 📍 Community: Battery Park, Cleveland (44102)

• 🏞 Nearby Landmarks: Edgewater Park, Lake Erie, Johnny Kilbane Park dog park, Gordon Square Arts District, neighborhood brewpub, Edgewater pier, pavilion, and beach

• 🚶 Accessibility: Steps from Edgewater Park trail network; walkable to Gordon Square theaters, restaurants, and shops via mosaic-walled pedestrian passageways

• 🌿 Lifestyle Appeal: Battery Park's bluff-top position above Edgewater delivers a lakeside living experience with no Cleveland parallel morning trail runs, lake sunsets, and a walkable arts district all within a single daily rhythm

📈 Recent Sales Nearby:

• 5217 Franklin Blvd – $586,000 | 3 Bed | 3 Bath | 2k sq. ft. | Detroit Shoreway

• 5909 Father Caruso Dr – $624,000 | 3 Bed | 3 Bath | 2.8k sq. ft. | Gordon Square

• 7311 Father Frascati Dr – $390,000 | 2 Bed | 3 Bath | 1.6k sq. ft. | Battery Park

• 7417 Battery Park Blvd – $295,000 | 2 Bed | 2 Bath | 1.3k sq. ft. | Battery Park

• 8205 Franklin Blvd #16 – $280,500 | 2 Bed | 3 Bath | 1.6k sq. ft. | Detroit Shoreway

Listed by: Sharon Gay Phelps | Howard Hanna

📞 216-331-8743 | [email protected]

Bought by: Diana Marvar & Gregg M Wasilko | Howard Hanna

💡 Insider’s Insight

🏛 925 Euclid's Fate Comes Down to Monday as Deutsche Bank Runs Out of Patience

The foreclosure saga at 925 Euclid Ave., the 1.45 million square foot former Union Trust Bank Building, is heading toward a decision point. U.S. District Court Judge Charles Fleming is expected to rule Monday on whether Millennia Companies affiliate HH Cleveland Huntington, L.P. gets another extension to redeem the property.

Millennia has now asked for a third deadline, pushing from the original July 30 date, to an extended August 30 date, to a proposed September 30 deadline. Attorney Adam Brown told the court Millennia continues progressing toward financing but needs more time to close.

📌 The competing positions

• Deutsche Bank's attorney says the loan matured back in March 2023, following two amendments and five separate forbearance agreements, and wants the auction process to proceed without further delay

• Cuyahoga County's legal counsel does not object to another extension

• Receiver John Lane, while not opposed to redemption in principle, says the uncertainty is actively harming his September 15 deadline to identify a Stalking Horse Bidder, because prospective bidders are reluctant to invest time and expense while redemption remains unresolved

The stakes are the roughly $500 million Centennial redevelopment plan, which would convert the 1924-built, 21-story tower into 864 to 870 workforce and market-rate apartments, a boutique hotel, retail and commercial space, restaurants, and event space.

🔑 Investor Takeaway

This is no longer just a real estate story, it's a market signal about how much patience institutional capital extends to distressed downtown redevelopment before pulling the trigger on a forced sale. Deutsche Bank's attorney laid out the timeline bluntly: a matured loan, two amendments, and five forbearance agreements is an unusually long runway already, and the bank's public message is clear that goodwill has run out.

📈 Cleveland Ranks 7th Nationally for Home Appreciation, Ohio City Comps Show the Premium

Cleveland home prices are rising faster than the national pace even as inventory grows. In July, only six of the 40 largest U.S. housing markets posted faster annual price growth than Cleveland's 4.1 percent, compared to 2.6 percent nationally.

Chicago led all markets at 6.5 percent growth, followed by Baltimore, New York, Pittsburgh, Detroit, and Philadelphia. Despite the strong growth rate, Cleveland's $279,000 median sale price remains the second lowest of the 40 largest metros, ahead of only Pittsburgh's $273,200.

📌 What local sales are actually showing

• Ohio City single-family home built by Knez Homes sold for nearly $536,000 earlier this month

• Gramercy Townhomes at Bridge Avenue and West 47th, built by Driven 4 Group, have sold for as much as $475,000

• A new-construction three-bedroom home in Detroit-Shoreway is listed above $655,000

📌 What local sales are actually showing

• Townhome sales: up 21.7 percent year over year

• Condo sales: up 10.2 percent year over year

• Single-family sales: up 3.5 percent year over year

🔑 Investor Takeaway

The comps in this piece matter more than the aggregate statistics, because they show exactly what "4.1 percent appreciation" looks like at the property level in Cleveland's stronger neighborhoods right now. A $536,000 new construction sale in Ohio City and a $655,000 listing in Detroit-Shoreway are not what most people picture when they hear Cleveland's $279,000 median price, and that gap between the citywide median and premium infill pricing is exactly where the real opportunity and the real risk both live.

🏡House of the Week – City, River & Bridge Views at Stonebridge Plaza in the Flats

📍 1237 Washington Ave #402, Cleveland, OH 44113

• 💰 Price: $209,900

• 📏 Size: 1,158 sq ft

• 📅 Year Built: 2007

• 🛏 2 Beds | 🛁 2 Full Baths

• 🚗 1 Attached Garage Space (Assigned)

• 🏡 High-Rise Condominium | Stonebridge Plaza / Downtown Cleveland

• 🏫 School District: Cleveland Metropolitan School District

🧘 Vibes: City skyline, river, and iconic Cleveland bridge views from a fourth-floor unit at Stonebridge Plaza priced at $209,900 in a building with a fitness center, elevator, assigned garage parking, and full-service HOA. At $181 per square foot for downtown condo living with this view orientation, this is the entry-level downtown buy that income-focused buyers and lifestyle purchasers should both be running numbers on.

👉 Listed by: Joe Vaccaro & Molly Laubert | EXP Realty, LLC.

📞 216-503-7007 ✉️ [email protected]

🛠 Tools & Resources We Recommend

• PropStream → Lead generation + property comps

• AirDNA → Short-term rental profitability data

• BiggerPockets Cap Rate Guide → Know how to calculate investment ROI

• Cleveland Housing Court Tracker → Spot eviction risks and distressed deals

• Cleveland Real Estate Investor Facebook Group → Share deals and insights with local investors