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BrandMuscle, the integrated local and channel marketing company, has leased a significantly smaller office at K&D Group's Post Office Plaza building that provides a striking example of businesses putting their real estate on a diet.
The upshot of real estate brokerage market surveys in the new year shows the Cleveland-area office market gaining vacancy, while industrial building vacancy declined, even with a continued flood of industrial buildings.
American Landmark Properties, an Illinois real estate company, has given up efforts to retain the office building and given the keys to the special servicer representing its lender on the property.
The major engineering and architecture firm was drawn across the major downtown street by a chance to have better collaboration for its teams at a new office on adjoining floors. It will also allow the firm a better fit as it has grown at its current location.
The 21-story tower long known as the former Diamond Building at 1100 Superior Ave. is the subject of a foreclosure proceeding on a securitized loan with $48 million in unpaid principal.