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Mesh with Success 20160620-NEWS--1-NAT-CCI-CL_-- 6/17/2016 4:08 PM Page 1 VOL. 37, NO. 25 JUNE 20 - 26, 2016 Focus Business of Life Prep and parochial Edgewater Yacht Club schools Pages 15-21 continues to cruise Customers say there’s “nothing quite like sailing on Lake Erie.” Page 23 CLEVELAND BUSINESS The List Region’s highest paid CEOs Page 27 TRANSPORTATION Airport renovations touch down in time By ALISON GRANT Akron-Canton Airport cut the rib- bon on a $2.7 million ticket wing over- clbfreelancer@@crain.com haul, Lost Nation Airport in Lake County redecorated its lobby and A whirlwind of construction and resurfaced two runways, and remodeling, hospitality bookings Youngstown-Warren Regional Airport and security planning is almost com- repainted and retiled its terminal. plete at what will be the threshold for The catalyst for the upgrades, air- thousands of visitors arriving for the port officials said, is the July 18-21 Republican National Convention — Republican convention that plan- Northeast Ohio’s airports. ners estimate will draw about 50,000 EDUCATION Cleveland Hopkins International delegates, media and others to Airport takes the wraps off a $42 mil- Cleveland. lion terminal modernization next The Cleveland 2016 Host Commit- week that has a spruced-up façade, a tee, a nonprofit responsible for or- Mesh with success ticketing level with more natural ganizing and funding the conven- light and a reconfigured Checkpoint tion, is busy training squads of B to help smooth the flow of passen- volunteers to make the local airport gers through security. experience harmonious for visitors. Private jet and charter passengers Over three arrival and two depar- at Burke Lakefront Airport will find a ture days at Hopkins, 200 ambassa- new, $6.7 million terminal with a dors will be stationed on concourses roomy passenger lounge and bistro. and at tables stocked with maps and Cuyahoga County Airport in Rich- guides. Their mission: Give a warm mond Heights has moved a tenant to welcome and sendoff, and informa- free up 3,000 square feet for recep- tion and directions to travelers, but tion and conference rooms. SEE AIRPORT, PAGE 5 TECHNOLOGY StreamLink Software raises $10 million Industry-school pairings By CHUCK SODER opment efforts at a critical time: New give students head start rules and regulations are pushing [email protected] government agencies and other or- By RACHEL ABBEY McCAFFERTY While embedding a high school @ChuckSoder ganizations to keep better track of campus at a hospital could be con- the grants that they award and re- [email protected] tentious in most districts, Cleveland Why did First Analysis invest in ceive. @ramccafferty has a history of working with indus- StreamLink Software? First Analysis wanted to take advan- try partners to expose students to Demand for grant management tage of that trend, but it wasn’t ready to Students’ exposure to the med- skilled professions — and those re- partnerships, said head of school software is on the rise — and the invest in StreamLink when it first ical professions at Cleveland’s new lationships are only deepening. Feowyn MacKinnon. Instead of a Cleveland company has what it takes learned about the company a few years Lincoln-West School of Science & Take MC2 STEM High School, traditional school building, classes to capitalize on that trend, according ago. At the time, StreamLink hadn’t yet Health won’t be limited to the occa- which opened in 2008 and really are held at locations like the Great to Corey Greendale, managing direc- generated enough customer traction sional field trip or job shadowing “bloomed” because of industry Lakes Science Center in the ninth tor at First Analysis in Chicago. to fit First Analysis’ investment strate- experience. Instead, they’ll be grade or General Electric’s Nela StreamLink recently raised $10 gy. So the firm put the Cleveland com- spending time on The MetroHealth Park campus in 10th. million from First Analysis and a pany into the “potentially-interesting- System’s main campus every week. GE was the school’s first compa- long list of existing investors. but-come-back-to-it-later bucket,” The school, which the school ny partner — it helped develop the The money will help StreamLink Greendale said. board must still approve, will allow curriculum, provided mentors and ramp up its sales and product devel- SEE STREAMLINK, PAGE 25 students to be exposed to the hun- tutors and gave them space rent- dreds of jobs available in the health free, MacKinnon said. The compa- care industry. Students will still take ny relied on the school for educa- Entire contents © 2016 by Crain Communications Inc. traditional high school courses at tion expertise, while the school Lincoln-West on West 30th Street, relied on GE for insight into the in- but will also spend time in lectures, dustry. The benefit to GE is a possi- lab work and more on the hospital’s ble future employment pipeline. campus off West 25th Street. Cleve- Much has been made of the im- land Metropolitan School District pending manufacturing skills gap, CEO Eric Gordon described it as a and these partnerships are one way “year-long experience of trying on the industry has been involved. the doctor’s coat.” SEE INDUSTRY, PAGE 22 20160620-NEWS--2-NAT-CCI-CL_-- 6/17/2016 11:08 AM Page 1 20160620-NEWS--3-NAT-CCI-CL_-- 6/17/2016 1:17 PM Page 1 37Beĺĺƚ±ĬŅĺ±ĬÚBŅƚŸå PRO-AM GOLF TOURNAMENT aŅĺÚ±ƼØIƚĺåƖLjØƖLjŎƅ±ƋĘåa±ƼĀåĬÚ±ĺÚĜÚčåĬƚÆ Presented by Truline Industries and University Hospitals, the Ronald House Pro-Am Golf Tournament is the longest- running and most successful fundraising event in the history of the Ronald McDonald House of Cleveland. Over the past 36 years, the tournament has raised more than $3.8 million to support the Ronald McDonald House’s mission of keeping families close when they need it most. Led by committee chairman Andy McCartney, this tournament is made possible by the dedication of our committee members, sponsors, and golf professionals. PRESENTING SPONSORS {)FeX{ec){kck UNDERWRITING SPONSORS ® k{ke){kck American Consolidated Dawson Insurance, Inc. Millwood, Inc. The Sherwin-Williams Company Industries, Inc. Deloitte Moen, Inc. ShurTech Brands LLC BlueBridge Networks Elk & Elk NSK Industries The Spyglass Group Bowden Manufacturing Flight Options PwC Talmer Bank and Trust Carnegie Investment Counsel Garson Johnson Resilience Capital Partners Taylor Oswald The Crawford Group HC Murray Group Resource Strategies, Inc. Wellspring Financial Advisors Davey Tree Expert Company Xåý)ĬåÏƋųĜÏ Ronald McDonald House Zenith Systems, LLC Charities of Northeastern Ohio {)FeXBecU× IMG and Suburban Press Our heartfelt thanks to the PGA and LPGA tour professionals and the NOPGA local resident professionals for their commitment to the Ronald House Pro-Am event. TOUR PROFESSIONALS: Zac Blair, Bud Cauley, Jason Dufner, Jason Gore, Trevor Immelman, Jason Kokrak, Nancy Lopez, Peter Malnati, Larry Nelson, Carl Pettersson, Dicky Pride, Dave Stockton, Hal Sutton, Kyle Thompson and Harold Varner RESIDENT PROFESSIONALS: Dominic Antenucci, Mark Bixler, Jennifer Creech, Matt Creech, Mark Evans, Jimmy Hanlin, Michael Kernicki, Jim Logue, Rob Moss, David Mottice, Drew Pierson, Bill Reilly, John Sico, Mark Sierak, Tom Waitrovich, and Charlie Wood ĜĺÏåŎĿƀĿØƋĘåŅĺ±ĬÚaÏ%Ņĺ±ĬÚBŅƚŸåŅüĬåƴåĬ±ĺÚŠaBšØ±ĺŅƋěüŅųěŞųŅĀƋŅųč±ĺĜDŽ±ƋĜŅĺØʱŸŅýåųåÚ±ÏŅĵüŅųƋ±ÆĬå home-away-from-home for families of children receiving medical treatment at area hospitals. In addition to the 55-room BŅƚŸåŅĺ)ƚÏĬĜÚeƴåĺƚåØaBŅýåųŸü±ĵĜĬĜåŸŅüŞåÚĜ±ƋųĜÏŞ±ƋĜåĺƋŸ±ÏŅĵüŅųƋ±ÆĬåŸŞ±ÏåŸƋŅųåŸƋ±ĺÚųåÏʱųčå±ƋŅĺ±ĬÚ McDonald Family Rooms at Cleveland Clinic Children’s, Fairview Hospital, MetroHealth Medical Center, and UH Rainbow Babies & Children’s. RMH relies on the generosity of the local community to provide support and services to the more than 100,000 individuals it serves annually. ƵƵƵţųĵĘÏĬåƴåĬ±ĺÚţŅųč 20160620-NEWS--4-NAT-CCI-CL_-- 6/17/2016 2:57 PM Page 1 PAGE 4 z JUNE 20 - 26, 2016 z CRAIN’S CLEVELAND BUSINESS INVESTMENT SALE Group planning to make THREE FLEX BUILDING PORTFOLIO • MULTI-TENANT 1652, 1658, 1664 EAST HIGHLAND ROAD, TWINSBURG MidTown a place to stay East Highland Road By STAN BULLARD [email protected] 1652 @CrainRltywriter E. Highland Rd. 1658 The strength of downtown Cleve- E. Highland Rd. 21,676 SF land’s apartment market is spilling 36,598 SF 100% Leased across the city’s Innerbelt to Mid- 100% Leased Town Cleveland, where plans have taken root to transform two empty 1950-vintage office buildings to 1664 housing. E. Highland Rd. The larger of the projects is a plan ASKING PRICE: $4,372,980 by Inspirion Group of Cleveland to CAP RATE: 10% 36,900 SF convert a vacant, eight-floor build- PRICE/SF: $44.54 100% Leased ing at 3101 Euclid Ave. to residential use with the addition of 90 apart- ments in the structure, including TERRY COYNE, SIOR, CCIM adding a ninth-floor penthouse. It’s Vice Chairman an estimated $12 million project, ac- 216.453.3001 cording to Mark Schildhouse, In- www.TerryCoyne.com [email protected] spirion executive vice president and general counsel. Inspirion on April 7 shelled out Inspirion Group plans to convert the vacant building at 3101 Euclid $1.75 million to buy the building Ave. into an apartment complex. (Stan Bullard) from Crystal Kingdom Development LLC, according to Cuyahoga County care professionals from University adjoining Innerbelt Office Building. land records. Inspirion will benefit Circle. The nice thing is that we have Contractors are converting the from the prior owner’s efforts to a stop for the HealthLine (bus-rapid 2828 Euclid building to residential, ready the building for redevelop- transit) in front of the building.” Schildhouse said. That project is not ment by removing old offices and as- Schildhouse has experience in seeking historic tax credits because SWAP readying real estate developments it required opening up one of the Is your banker making you gamble bestos as it gutted the structure, Schildhouse said.
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