The county chose Geis Cos. to build its headquarters and buy the Ameritrust complex in downtown Cleveland. Officials announced the deal Tuesday.
Cuyahoga County looked seriously at three bids for the Ameritrust complex at East Ninth Street and Euclid Avenue. The county received nine bids to house its consolidated headquarters. Officials expect to announce other real estate deals in January.
CLEVELAND, Ohio -- After choosing the Geis Cos. to build its new headquarters and buy the Ameritrust complex, Cuyahoga County released details about the competition Tuesday.
The county received nine proposals, ranging from new construction to historic buildings, for its headquarters.
Geis proposed a lease and eventual purchase option on a new, eight-story building at the Ameritrust complex. Inland American Real Estate Trust Inc. floated the lower floors at 45 Erieview Plaza, often called the AT&T building. Weston Inc., a local developer, offered to construct a new building in the Warehouse District. And Optima Ventures of Miami pitched space at the former Huntington Building, at 925 Euclid Ave.
Five other properties, including the Tower at Erieview, Eaton Center and the Standard Building, failed to make the list of finalists. Weston incorporated the county's Marion Building into another bid, a variation on its new-construction plan.
Forest City Enterprises Inc. offered to sell the county the Halle Building, at 1228 Euclid Ave., in "as-is condition." The county apparently rebuffed that deal, and Forest City said in a regulatory filing last week that it aims to sell the building or find a joint-venture partner to redevelop it.
The county seriously considered three offers for the Ameritrust complex. The Geis deal, a $27 million purchase that hinged on securing the county as a tenant, bested offers from Optima and investor Christopher Agnew, who brought in developer Landmark RE Management as part of his team.
Optima offered $16.25 million for the complex. The company, which owns several downtown office buildings, said it would turn the Ameritrust tower into apartments, offices, stores or a hotel. Agnew bid $18.5 million for the complex, which he also hoped to fill with offices, a hotel, retail and parking.
The county put 13 properties, eight of them in or near downtown Cleveland, and its consolidated headquarters project up for bid in July. Cuyahoga County Executive Ed FitzGerald said he expects to make announcements about the other buildings in January. The portfolio includes the county's current administration building, adjacent to the new convention center and medical mart project.
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