Landmark Cleveland office building changes hands

Purchase valued at $66 million

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One Cleveland Center, a multi-tenant office building in Cleveland, has been purchased for $66 million.   The property is a 31-story, class A building with 543,352 square feet of net rentable area. The building is a well-known landmark in the Cleveland skyline and offers tenants 360-degree views of the city and Lake Erie.   One Cleveland is home to a diverse roster of national businesses, including American International Group, KPMG, Merrill Lynch and the General Services Administration.   Meridian Realty Investments acquired the property from an entity of Walton Street Capital, on behalf of the co-ownership group of Tenant-in-Common investors.   1031 Exchange Options, a national real estate investment consultancy, represented nearly half of the total equity placed by individual investors. *** Send news tips or a letter to the editor to  ...