{"id":1004092111,"date":"2014-03-03T14:14:13","date_gmt":"2014-03-03T22:14:13","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=243487"},"modified":"2020-05-18T11:21:46","modified_gmt":"2020-05-18T19:21:46","slug":"victory-center-prepares-to-receive-tenants-in-health-tech-corridor","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/victory-center-prepares-to-receive-tenants-in-health-tech-corridor\/","title":{"rendered":"Victory Center Prepares to Receive Tenants in Health-Tech Corridor"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">What was once a vacant building is about to be launched as a mixed-use complex. Garson Victory LLC<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/Day-Time-Exterior-2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-243488\" title=\"Day-Time-Exterior-2\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/Day-Time-Exterior-2.jpg\" alt=\"\" width=\"300\" height=\"199\" \/><\/a>,  a partnership led by real estate broker Scott Garson, redeveloped 7012 Euclid Ave. after purchasing it in late 2010 for $2.7 million. The result was Victory Center, a complex featuring offices, labs and research facilities and now ready to welcome tenants.<\/p>\n<p style=\"text-align: justify;\">According to real estate website <em><a href=\"https:\/\/www.propertyshark.com\/\" rel=\"nofollow\" >PropertyShark<\/a><\/em>, the four-story building was constructed in 1917. It occupies 3.3 acres of land in the core of Cleveland&#8217;s Health-Tech Corridor and offers 165,965 square feet of space.<\/p>\n<p style=\"text-align: justify;\">Garson Victory worked on the project with a local development team including Domokur Architects, on project and construction services; Partners Environmental Consulting; historic consultant Heritage Consulting; LEED consultant HLMS Sustainability Solutions; and NAI Daus. It also collaborated with the city of Cleveland and the state of Ohio.<\/p>\n<p style=\"text-align: justify;\">The developers used tax credits to finance the renovation of the building\u2019s core and shell. The  project received a $4.2 million Historic Tax Credit Award from the state of Ohio in December 2011. It will generate another projected $3.7 million in Federal Historic Tax Credits. Huntington National Bank will finance tenant improvements and other project-related costs.<\/p>\n<p style=\"text-align: justify;\">The total cost of the project was $26.6 million. It delivered a LEED Silver-certified building, ready to house Cleveland&#8217;s growing incubator and accelerator growth-stage companies, biomed and tech businesses. Local stakeholders such as BioEnterprise Inc., Jumpstart Inc., Magnet Inc. and Global Cardiovascular Innovation Center are working to attract business tenants to Victory Center.<\/p>\n<p style=\"text-align: justify;\">&#8220;The goal of this space is to give local companies room to grow,&#8221; Scott Garson, developer and investment partner, said in a statement for the press. &#8220;It&#8217;s a prime location for occupants to capitalize on Cleveland&#8217;s increased investment in tech and biomed businesses, where they can leverage a wealth of local resources and support.&#8221;<\/p>\n<p style=\"text-align: justify;\"><em>Photo credits: <\/em><a href=\"https:\/\/www.victorycentercleveland.com\/\" rel=\"nofollow\" ><em>www.victorycentercleveland.com<\/em><\/a><em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Garson Victory LLC,  a partnership led by real estate broker Scott Garson, purchased the old, vacant building at 7012 Euclid Avenue in late 2010 for $2.7 million. Soon after the acquisition, it started work on a redevelopment project to transform the property into the Victory Center, a mixed-use complex with offices, labs and research facilities. With all construction now finished, the new building is ready to welcome tenants.<\/p>\n","protected":false},"author":925,"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":[39423,1815],"class_list":["post-1004092111","post","type-post","status-publish","format-standard","hentry","category-cleveland","category-latest","tag-cleveland","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Victory Center Prepares to Receive Tenants in Health-Tech Corridor - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/victory-center-prepares-to-receive-tenants-in-health-tech-corridor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Victory Center Prepares to Receive Tenants in Health-Tech Corridor\" \/>\n<meta property=\"og:description\" content=\"Garson Victory LLC, a partnership led by real estate broker Scott Garson, purchased the old, vacant building at 7012 Euclid Avenue in late 2010 for $2.7 million. Soon after the acquisition, it started work on a redevelopment project to transform the property into the Victory Center, a mixed-use complex with offices, labs and research facilities. With all construction now finished, the new building is ready to welcome tenants.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/victory-center-prepares-to-receive-tenants-in-health-tech-corridor\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-03-03T22:14:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-18T19:21:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/Day-Time-Exterior-2.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/victory-center-prepares-to-receive-tenants-in-health-tech-corridor\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/victory-center-prepares-to-receive-tenants-in-health-tech-corridor\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Victory Center Prepares to Receive Tenants in Health-Tech Corridor\",\"datePublished\":\"2014-03-03T22:14:13+00:00\",\"dateModified\":\"2020-05-18T19:21:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/victory-center-prepares-to-receive-tenants-in-health-tech-corridor\\\/\"},\"wordCount\":316,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/victory-center-prepares-to-receive-tenants-in-health-tech-corridor\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/02\\\/Day-Time-Exterior-2.jpg\",\"keywords\":[\"Cleveland\",\"National\"],\"articleSection\":[\"Cleveland\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/victory-center-prepares-to-receive-tenants-in-health-tech-corridor\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/victory-center-prepares-to-receive-tenants-in-health-tech-corridor\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/victory-center-prepares-to-receive-tenants-in-health-tech-corridor\\\/\",\"name\":\"Victory Center Prepares to Receive Tenants in Health-Tech Corridor - 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