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📬 In today’s edition:

• 🏢 Sherwin-Williams HQ Reshapes Cleveland’s Office Market

• 🚲 Where Downtown Meets Ohio City: Scranton Peninsula Grows

• 🔑 New Construction Gem Hits the Market in Ohio City

📰 Cleveland Market Minute

Sherwin-Williams HQ boosts office market

Although the occupancy of Sherwin-Williams’ new 1-million-square-foot headquarters downtown has caused a brief boost to Greater Cleveland’s office market.

Sherwin-Williams’ staff continues to transfer from other buildings, including the old headquarters that’s spread among the Landmark and Skylight office towers along Prospect Avenue in the Tower City complex.

🔗 Read More

Scranton Peninsula makes space for 1,000 residents

In 2024, Cleveland’s Scranton Peninsula was home to a single resident. Now the construction of 609 homes ranging from studio to 3-bedroom apartments creates enough residential capacity for more than a thousand.

The NRP Group’s 316-unit apartment and townhome development, The Collins at the Riverbend, finished construction in 2025 and was reported to be 70 percent occupied by mid-October.

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Buyer emerges for prime TOD site

A Michigan-based self-storage company that has been expanding its property holdings in Ohio is adding another. This time it’s a property that’s been courted for decades by developers and planners as a potential site for Transit Oriented Development (TOD).

At the northeast corner of West 117th Street and Berea Road, where Cleveland meets Lakewood, is Helm Storage, 11600 Berea Rd.

🔗 Read More

🏠 Just Sold Spotlight – Ohio City Modern Build with Tax Abatement Advantage

📍4204 Bailey Ave, Cleveland, OH 44113

• 💰 Sold Price: $490,000

• 📏 Size: 2,580 sq. ft.

• 📅 Year Built: 2018

• 🛏 2 Beds | 🛁 3 Full + 1 Half Baths

• 🚗 Oversized 2.5-Car Garage

• 🌳 Lot Size: 5,623 sq. ft.

• 🏫 School District: Cleveland Municipal School District

📝 Investor Takeaway

This Ohio City sale underscores continued demand for newer construction in walkable urban neighborhoods, especially when paired with long-term tax abatement. Trading around $190 per square foot, the property reflects strong buyer appetite for move-in-ready homes with modern layouts, finished basements, and outdoor living—without the pricing premium of brand-new builds.

The finished basement with full bath and bonus room adds flexible value for office, guest suite, or future rental use, while the remaining 8 years of tax abatement materially enhances cash flow and reduces ownership friction. Ideal for owner-occupants prioritizing lifestyle and cost certainty, or investors seeking stable appreciation in a supply-constrained submarket.

🏡 Neighborhood Insight

• 📍 Community: Ohio City, Cleveland

• 🏞 Nearby Landmarks: West 25th dining district, Hingetown, Downtown Cleveland

• 🚶 Accessibility: Highly walkable; under 6 minutes to Downtown with quick I-90 access

• 🌿 Lifestyle Appeal: Restaurants, coffee shops, nightlife, and daily conveniences within walking distance

📈 Recent Sales Nearby:

• 4212 Bailey Ave – $497,000 | 3 Bed | 4 Bath | 2.8k sq. ft.

• 2291 W 38th St – $546,500 | 3 Bed | 4 Bath | 2.4k sq. ft.

• 1916 W 44th St – $520,000 | 3 Bed | 4 Bath | 2.5k sq. ft.

• 1878 W 47th St – $485,000 | 3 Bed | 3 Bath | 2.2k sq. ft.

• 2160 W 40th St – $440,000 | 2 Bed | 3 Bath | 1.9k sq. ft.

📌 Notable Features

• ✨ Modern open-concept design with high ceilings

• 🍽 Kitchen with island, generous counter space, and full appliance package

• 🛏 Primary suite with walk-in closet and ensuite bath

• 🧺 Second-floor laundry for daily convenience

• 🏠 Finished basement with full bath + bonus room

• 🌳 Fenced yard, decks, and multiple patios/balconies

• 🚗 Oversized garage with loft storage

• 💸 Tax abated for 8 more years

💡 Insider’s Insight

📰 NEOtrans Development Brief

🏗️ Scranton Peninsula: From Industrial Past to Urban Neighborhood

• Once home to just one resident, Scranton Peninsula now supports 609 new homes with capacity for 1,000+ residents.

• Two major rental projects anchor the transformation:

• The Collins at the Riverbend (316 units) — completed in 2025, ~70% occupied.

• Triton at the Flats (293 units) — now leasing, offering 2 months free rent.

• Both developments feature high-end amenities and riverfront proximity.

📍 Strategic Location Advantage

• Centrally located between Downtown Cleveland and Ohio City.

• ~6-minute bike ride to West Side Market.

• ~3-minute ride to Bedrock’s planned riverfront development near Tower City.

• Positioned to benefit from major public and private investments.

🌿 Infrastructure & Public Realm Investment

• Irishtown Bend Park construction underway:

• Stabilization of a 23-acre hillside overlooking the river and skyline.

• Will connect to the Centennial Lake Link Trail, creating a direct bike/ped route to Lake Erie.

• Enhances livability and long-term value of nearby housing.

🏘️ Expanding Ownership Opportunities Nearby

• Duck Island neighborhood seeing growth in owner-occupied housing:

• 12 proposed luxury townhomes on Carter Road (2 under construction).

• Abbey Residences: 4 new townhomes with balconies, rooftops, and garages.

• Complements nearby Abbey Townhomes & Flats (completed in 2024).

🏡House of the Week – Luxury New Construction with Rooftop Deck

📍2149 Columbus Rd, Cleveland, OH 44113

• 💰 Price: $710,000

• 📏 Size: 2,224 sq ft

• 📅 Year Built: 2024 (15-Year Tax Abatement)

• 🛏 3 Beds | 🛁 3 Full Baths + 1 Half Bath

• 🚗 Oversized 2-Car Attached Garage

• 🏘 Townhouse | Burik Luxury Townhomes

• 🏫 School District: Cleveland Metropolitan School District

🧘 Vibes: Built by award-winning Keystate Homes, this striking new-construction townhome blends forward-thinking design with neighborhood-sensitive architecture in one of Ohio City’s most coveted blocks north of Lorain. The peaked rooflines and welcoming front porch pay homage to the historic district, while steel roofing, floor-to-ceiling windows, and tucked-away private terraces deliver a distinctly modern edge.

Inside, the home showcases dramatic vaulted ceilings, 10-foot main-level ceilings, and a bright open-concept layout anchored by a high-fashion island kitchen featuring quartz countertops, quality cabinetry, and high-efficiency appliances. Designed for both everyday living and entertaining, the space feels airy, intentional, and refined.

The extra-large owner’s suite impresses with vaulted ceilings, a spa-grade luxury tile bath, and a spacious walk-in closet, while the private guest suite includes its own ensuite bath, offering comfort and flexibility for visitors or work-from-home needs.

Set within Harbor Whitman—an intimate four-unit development, this residence delivers rare new construction in Ohio City, combined with the significant benefit of the old tax abatement system, meaning you only pay taxes on the land. Just steps from parks, shops, dining, public transit, and medical services, this home offers architectural distinction, efficiency, and long-term value in one exceptional package.

👉 Listed by: Haley Serna & Jordan Roth | Howard Hanna

📞 234-380-7654 | ✉️ [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

📣 Weekly Wrap-Up

🏙️ Cleveland Real Estate Weekly | Market, Development & Sales

Cleveland’s real estate market this week reflects a mix of employment-driven office shifts, accelerating residential density in riverfront districts, and continued buyer demand for tax-abated urban housing.

🏢 Office Market: HQ Consolidation, Not Expansion

The occupancy of Sherwin-Williams’ new 1-million-square-foot downtown headquarters has temporarily boosted Cleveland’s office utilization. However, this gain is largely the result of internal consolidation, as employees relocate from legacy spaces such as the Landmark and Skylight towers within Tower City.

While the move strengthens downtown’s Class A footprint, it underscores ongoing softness in older office inventory rather than signaling net new office demand across the broader market.

🏠 Just Sold Spotlight | Ohio City Modern Build

• 📍 4204 Bailey Ave, Cleveland, OH 44113

• 💰 $490,000 | 📏 2,580 sq. ft. | 🛏 2 Beds | 🛁 3.5 Baths | Built 2018

Trading near $190/SF, this Ohio City sale reflects continued demand for newer construction paired with remaining tax abatement. The finished basement and flexible layout enhance long-term usability, while walkability and proximity to Downtown support durable resale and lifestyle value.

💡 Insider’s Insight

Scranton Peninsula now supports over 600 completed homes with capacity for 1,000+ residents, anchored by The Collins at the Riverbend (70% occupied) and Triton at the Flats, both benefiting from riverfront proximity. Strategic positioning between Downtown and Ohio City, combined with Irishtown Bend Park and future trail connections, is steadily strengthening livability, while nearby Duck Island is beginning to introduce more owner-occupied townhome options—signaling a broader shift toward long-term neighborhood stability.

🏡 House of the Week – Luxury New Construction Townhome

• 📍 2149 Columbus Rd, Cleveland, OH 44113

• 💰 $710,000 | 📏 2,224 sq. ft. | 🛏 3 Beds | 🛁 3.5 Baths | Built 2024

• 🏷 15-Year Tax Abatement

A high-design Ohio City townhome offering vaulted ceilings, rooftop living, and modern efficiency. Positioned near the river and urban core, the home blends architectural distinction with meaningful tax savings—appealing to both luxury buyers and long-term urban investors.

Until next week,

Cleveland Real Estate Investors

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