August 14, 2018
KRA Management acquired The Galleria and Tower at Erieview, a 760,339-square-foot high-rise office building and 93,663-square-foot retail center in downtown Cleveland’s business district. Philadelphia-based RAIT Financial Trust sold the property at 1301 East Ninth St. for a reported $17.7 million.
The 40-story mixed-use property is the fourth tallest building in Cleveland, and features views of Lake Erie, indoor heated parking, and a 40,000-square-foot YMCA fitness facility with a lap pool, yoga and spinning studios and a spa/wellness clinic. The retail portion is a glass-enclosed, two-story urban retail center that offers a mix of retail stores, as well as a food hall.
HFF’s Bryan Rosenberg, Patrick Shields, Jaime Fink, Jeffrey Bramson, John Merrill and Doug Rodio represented the seller and procured the buyer.
Rosenberg says, “The Galleria and Tower at Erieview is an iconic project in Downtown Cleveland with tremendous potential. We are excited to watch the transformation.”
For comments, questions or concerns, please contact Dennis Kaiser