Millennia, 13 others expressed interest
For a large, vacant, old building needing significant repairs before it can even host new occupants in a soft market, there is a healthy amount of interest in buying The Centennial, 925 Euclid Ave. in Downtown Cleveland. The difficulty in redeveloping the building resulted in a lender foreclosing on the property.
A court-appointed receiver of the 1.45-million-square-foot office building said he has so far received 13 non-disclosure agreements from interested parties in a pending sale of the property. The question that remains to be answered is how serious is that interest and if the sale will ever happen.
The reason why it may not happen is the building’s current owner, Cleveland-based Millennia Companies which acquired the building through its affiliate HH Cleveland Huntington, LP, wants to retain the property according to court records…