Class A Office Building
576,000 Square Feet
The 1100 Superior Building is a 576,000 square foot Class A office property in downtown Cleveland, purchased in December 2007. The recession of 2008 severely impacted the Cleveland market, resulting in excessive vacancy. With limited opportunities in the marketplace, ownership quickly modified the original marketing strategy and implemented a comprehensive capital improvement plan with the goal of enhancing the image and performance of the building when market conditions stabilized. One of the goals of this plan was a focus on sustainability. Major energy cost savings projects were completed including boiler replacement, installation of new variable frequency drives, and installation of a “green roof”. In addition to the energy cost savings directly related to these projects, American Landmark Properties successfully lowered expenses by nearly 25% as a result of contract renegotiations with engineers and cleaning staff, overhead reductions, and reductions in property taxes. As a result of these improvements, 1100 Superior Avenue was the first LEED-EB certified building in downtown Cleveland, an achievement that was widely publicized and instrumental in the ultimate success of the project. These capital investments, along with operating efficiencies positioned the property to better compete as the market improved. In 2012, over 150,000 square feet of leasing was completed, pushing occupancy over 90%, far exceeding the overall market.