Fives at Erieview

Investment Overview

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 th 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.

Investment Highlights

• Located directly across from Erieview Tower, which is undergoing a $218M redevelopment project converting the building to a mix of a W-Branded 210 room luxury hotel, Marriott branded luxury apartments, a 38th-floor restaurant / bar, 12 floors of renovated office space, and a ballroom
• Modernization opportunities remain for the elevator systems and HVAC mechanicals. which will build upon the attractive renovations to the lobby, common areas, and lower-level walkways completed in 2017. See data room for details.
• Located in the heart of Downtown Cleveland along Erieview Plaza and in close proximity to both North Coast Train Station (Blue/Green/Waterfront Lines) and Interstate-90 (I-90)
• The three (3) buildings are interconnected on several floors including floors leased to the City of Cleveland