The planned improvements to 1215 will imbue the property with a fresh avant-garde look that both current and future tenants will be proud of.
Cleveland, OH (PRWEB) December 22, 2014
The SNR Group, together with partner Sassoon Equities, Inc., is pleased to announce the purchase of 1215 Superior Ave., a 164,139 square-foot Class A office building in downtown Cleveland. 1215’s anchor tenant remains Charter One/Citizens Bank, which executed a long-term lease upon the closing of the sale to occupy approximately 40% of the building for its Ohio headquarters.
The new ownership entity – 1215 Superior, LLC – has already begun the process of executing an extensive property enhancement plan, including upgrading the lobby, floors and bathrooms as well as the curtain-wall façade.
SNR is a Canadian family real estate development company with a long history of successful projects in both the U.S. and Canada. In connection with the purchase and upgrade of the property, SNR’s Arthur Steckler said, “We believe there are tremendous value opportunities in the Midwest, which is why we decided to expand our geographic footprint to the Cleveland market. The planned improvements to 1215 will imbue the property with a fresh avant-garde look that both current and future tenants will be proud of.”
Neuf Architect(e)s, an internationally-renowned architectural firm based out of Montreal, with which SNR has a decades-long relationship, is designing the enhancements.
Dan Rose of CBRE, Inc. will serve as leasing agent for the property. CBRE will also manage the property.