{"id":1004052963,"date":"2012-11-19T09:17:08","date_gmt":"2012-11-19T17:17:08","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=80861"},"modified":"2020-04-08T10:47:40","modified_gmt":"2020-04-08T18:47:40","slug":"oswald-cos-leases-three-floors-in-1100-superior-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/oswald-cos-leases-three-floors-in-1100-superior-building\/","title":{"rendered":"Oswald Cos. Leases Three Floors in 1100 Superior Building"},"content":{"rendered":"

By Adrian Maties, Associate Editor<\/p>\n

Oswald Cos., one of the nation’s largest independent, employee-owned insurance companies, has been looking for space all over Cleveland to accommodate its needs. The \"\"<\/a>company has been located in downtown Cleveland since 1893 and seems to be focused on remaining in the city’s center.<\/p>\n

In August 2013, Oswald Cos. will move about 200 employees and its headquarters to 1100 Superior Ave., a 21-story, 576,000-square-foot Class A office tower built in the early 1970s. Oswald struck a deal with American Landmark Properties Ltd., 1100 Superior\u2019s owner, to lease the 13th, 14th and 15th floors for 12 years. The space was previously occupied by Cliffs Natural Resources.<\/p>\n

Right now, Oswald\u2019s offices are located at 1360 E. Ninth St., in the IMG Center, the company\u2019s home for the past 21 years. The new space totals 71,000 square feet, a 48 percent increase over its current 48,000 square feet. Oswald will move 220 employees from its current headquarters and almost a dozen from its Beachwood office to the new location next to the revived Perk Park on E. 12th St.<\/p>\n

The Oswald deal is one of the biggest at 1100 Superior.\"\"<\/a> And it comes with naming rights: The building will be renamed the Oswald Centre. In addition, a new fitness center will be constructed, as well as a 4,000-square-foot, first-floor conference room.<\/p>\n

According to Marcus & Millichap, the downtown Cleveland office market is gaining momentum. Multiple companies have vacated space in the suburbs and established a presence in the core. The overall vacancy is expected to drop to 20.7 percent this year. Asking rents will grow by 0.7 percent to $18.50 per square foot, while effective rents are expected to close 2012 at $14.69 per square foot, an increase of 0.8 percent.<\/p>\n

Photo credits: American Landmark Properties<\/a><\/h6>\n
Charts courtesy of Marcus & Millichap.<\/a><\/h6>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Oswald Cos., one of the nation’s largest independent, employee-owned insurance companies, has been looking for space all over Cleveland to accommodate its needs.<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1584,21742],"tags":[],"class_list":["post-1004052963","post","type-post","status-publish","format-standard","hentry","category-cleveland","category-latest"],"acf":[],"yoast_head":"\nOswald Cos. 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