1111 Superior Avenue

Cleveland, Ohio

602,000 SQUARE FEET

28 STORIES

  • ASSET CLASS: Class A Office
  • IRR: 31.5% (Projected)
  • MULTIPLE: 1.7x (Projected)
  • TOTAL EQUITY: $12,175,000

1111 Superior Avenue is a 602,000-square-foot downtown office building, purchased in 2014 for $19,500,000 with a loan of $14,500,000. At the time of purchase, the property was 53% leased.  Within the first year, American Landmark Properties completed an extensive renovation of the lobby and added a first-class executive fitness center and conference facility to the property. These improvements resulted in new leases increasing the building’s occupancy to nearly 80%. In addition to the acquisition and syndication, American Landmark Properties manages and leases this building.

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