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CCLB 01-29-07 a 8 CCLB.Qxd CCLB 01-29-07 A 1 CCLB 1/26/2007 4:11 PM Page 1 www.crainscleveland.com Vol. 28, No. 4/$1.50 JANUARY 29 - FEBRUARY 4, 2007 LATENEWS GOING TO SCHOOL ■ BALDWIN-WALLACE DOWNTOWN SKYSCRAPER PRESIDENT LOOKS TO SELLATHON GAINS STEAM DISTINGUISH ■ KBS Realty Advisors, a real estate investment and asset SCHOOL management firm in Newport FROM ITS Beach, Calif., has put Eaton Center COMPETITION. in downtown Cleveland up for sale with Granite Partners of New York PAGE 6 and the Cleveland office of CB Richard Ellis, and likely will market the Penton Media Building by year-end. That’s the word from Chuck Lindwall, KBS regional vice president, who said the company Desirable follows a strategy of holding assets a set period and exceeded it in both cases because the investors it represented liked the properties. KBS bought 28-story Dalad plot Eaton Center in 1997 and 21-story Penton, its first foray into down- town Cleveland, in 1996. It’s a rosier market to sell into than a on the block few years ago, but Mr. Lindwall noted, “We didn’t know that then.” — Stan Bullard 72 acres at Interstates 480, 77 part of GLASTIC SOLD TO Viny brothers’ reshuffling of interests GERMAN CONCERN By STAN BULLARD ■ Glastic Corp. in South Euclid has [email protected] been sold by the Crawford Group LLC of Naples, Fla., to Rochling More than 70 acres of Northeast Ohio’s highest- Engineering Plastics KG of Haren, profile commercial land are among the assets Dalad Germany. Terms weren’t Group is offering for sale in a reshuffling of ownership disclosed. Glastic spokeswoman interests among the three Viny brothers who control the Karen Lange said none of the 160 JANINE BENTIVEGNA real estate concern in Independence. workers at the company’s plant on Oliver “Pudge” Henkel Jr. is heading the effort by the Cleveland Clinic’s government and Offered with a listing at Colliers Ostendorf-Morris Co. Glenridge Road will be affected. community relations office to redevelop the neighborhood around the hospital. is 72 acres towering fort-like over the southeast corner of Glastic produces thermal insulation the I-77 and I-480 interchange, which stretches along materials for the electronics and Rockside Woods Boulevard near Rockside Road. telecommunications industries. Also on the block are the Gold Building, a three-story, — David Bennett OUTWARD BOUND 35,000-square-foot building at 6200 Rockside Woods Blvd.; another 16 acres on Brecksville Road; and, in TOWER CITY GAP TO BE Clinic teams with Fairfax group to rejuvenate surrounding area adjoining Valley View, four industrial buildings and 72 FILLED BY FOREVER 21 acres of residential-zoned land on Hathaway Road. Neil Viny, Dalad Group managing partner and for years ■ The Gap store at Tower City By SHANNON MORTLAND order to make it more attractive to busi- the point man for the family’s realty business, said he and Center will close when its lease [email protected] nesses, potential residents and visitors. The his brothers are “all 50ish and are going in different direc- expires at the end of January and outreach initiative is being undertaken by tions.” He described the division of interests as “garden will be replaced in spring by the uch of the neighborhood sur- the Clinic’s government and community variety” estate planning. Mr. Viny will continue to focus on first Cleveland-area location of rounding the Cleveland Clinic is relations office, which now is headed by real estate, as evidenced by the investor group he led that clothing chain Forever 21. The badly in need of surgery to repair noted attorney Oliver “Pudge” Henkel Jr. recently bought five office buildings in Brecksville. Los Angeles-based retailer will take its boarded-up buildings and “We wanted to bring heightened attention Mr. Viny’s brother Steven runs the Norton Environ- possession of the 6,600-square- Mcrumbling housing — and the hospital to the community in which we live and mental landfill and waste management concern. His foot space Feb. 1. Underground system is ready to take an active hand in work,” said Mr. Henkel, who was a partner at brother Joseph is a lawyer who lives in southeast Ohio. Station, another national chain mending it. Cleveland law firm Thompson Hine LLP Chris Smythe, president of Smythe Property Advisors clothing store, also is set for a The Clinic is pairing up with the non- before joining the Clinic last August. “We of Cleveland, returned calls placed to Steven and Joseph spring opening in the former profit Fairfax Renaissance Development want to change the complexion from being Viny to ask about the realignment of family assets. Limited space. Corp. and government entities in an effort seen as an institution that looks inward to “It was very complicated, very methodical and definitely — John Booth to restore the old Fairfax neighborhood in See CLINIC Page 24 See DALAD Page 7 GCP ON BOARD WITH DIESEL EMISSION PUSH ■ The Greater Cleveland Partner- ship has taken the “clean diesel” Stage set for nursery’s sale in Willowbend soap opera pledge. Cleveland’s chamber of commerce group was one of 32 By SHAWN A. TURNER “If I have to cut grass to take care of him, I will.” disappointing for us.” Mr. Amos said Midwest public organizations and [email protected] he’s concerned that the 334 acres for private companies that agreed last – Cheri Hall, woman who allegedly has carried on a long affair with David sale might be bought by a housing week to work to reduce diesel The bizarre tale of Willowbend Brewster, owner of the embattled Willowbend Nursery in Perry developer who would destroy Perry’s emissions from older diesel Nursery Inc. could be coming to an quiet, rural atmosphere. engines operating in their regions. end. protection from creditors. Mr. Stark close to happening. A sale to an unrelated buyer would Northeast Ohio must reduce the Or not. declined further comment, citing “There are multiple bids right end the Brewster family’s ownership soot and smog in the air to avoid David T. Stark, a vice president with advice from attorneys, and he did not now,” said Ms. Wright, who noted of the nursery, which dates to 1897 sanctions from the U.S. Environ- Stark & Stark Consulting in Painesville say whether his firm was working that her brother, Dana Brewster, is when it was founded by Emory mental Protection Agency when who has worked with Willowbend in with Willowbend at present. interested in the business. Merton Brewster. The events leading new standards go into effect in the past, said the nursery in Perry is in Just how far along those talks are Perry Township trustee Rick Amos, to Willowbend’s downfall are the 2009. Diesel engines are a prime talks with an out-of-state buyer who is open to question. Rachel Wright, the former chief financial officer stuff from which soap operas are source of these pollutants. wants to acquire the assets of the the 30-year-old daughter of current of Lake County Nursery, another made: marital infidelity, a nasty — Jay Miller troubled business, which last Septem- Willowbend owner David Brewster, nursery in Perry, said a deal with an divorce, family in-fighting, and ber filed for Chapter 11 bankruptcy said she doesn’t believe a sale is out-of-state buyer “would be very See OPERA Page 11 04 SPECIAL SECTION 6 EVENT PLANNING NEWSPAPER Electronic invitations gain popularity, offer 71486 01032 ■ convenience Page 15 Entire contents © 2007 0 PLUS: POPULAR CORNER ■ UNIQUE VENUES ■ & MORE by Crain Communications Inc. CCLB 01-29-07 A 2 CCLB 1/26/2007 1:27 PM Page 1 2 CRAIN’S CLEVELAND BUSINESS WWW.CRAINSCLEVELAND.COM JANUARY 29-FEBRUARY 4, 2007 COMING NEXT WEEK CRAIN’S ON THE WEB Commercial & Industrial Real Estate The national economy is After a redo of the Lockheed humming along, but readers of 700 W. St. Clair Ave., Suite 310, CrainsCleveland.com don’t see Cleveland, OH 44113-1230 Martin Aircraft Braking much improvement locally. Phone: (216) 522-1383 Systems complex in Akron, In our unscientific online poll last Fax: (216) 694-4264 Chris Semarjian (right) week, just 32.4% of 182 respon- www.crainscleveland.com dents said Northeast Ohio’s and partner Stuart Lichter economy was improving. Nearly Publisher/editorial director: Brian D. Tucker ([email protected]) turn their attention to the 43% said it was getting worse, Editor: Mark Dodosh shuttered Ford plant while 24.7% said it was stagnant. ([email protected]) in Lorain. Those results aren’t particularly Managing editor: Scott Suttell MARC GOLUB encouraging, but they aren’t all ([email protected]) that surprising, either. Sections editor: Amy Ann Stoessel REGULAR FEATURES The Federal Reserve Board’s ([email protected]) Design editor: Kristen Miller Jan. 17 “Beige Book” report noted ([email protected]) Classified ...............22-23 List: Airlines ................25 that the Cleveland district saw Senior reporter: Stan Bullard Editorial ......................10 Stocks.........................26 “softening activity” since the last ([email protected]) quarterly report. Reporters: Going Places ...............14 Tax Liens.....................12 David Bennett ([email protected]) Shannon Mortland ([email protected]) Jay MIller ([email protected]) John Booth ([email protected]) Shawn A. Turner ([email protected]) Chuck Soder ([email protected]) Designer/reporter: Joel Hammond ([email protected]) Research editor: Deborah W. Hillyer ([email protected]) Cartoonist/illustrator: Rich Williams Online editor: Jeff Stacklin ([email protected]) Introducing the Marketing manager: Nicole M. Burke ([email protected]) SM Advertising sales director: AT&T Unity plan for Mike Malley ([email protected]) Account executives: Adam Mandell ([email protected]) Art Bouhall Jr. ([email protected]) Small Business. Andrea Rubin ([email protected]) Dirk Kruger ([email protected]) Classified advertising manager: Don Schwaller ([email protected]) Office coordinator: Uniting home, Toni Coleman ([email protected]) Western accounts manager: Ellen Mazen, 323-370-2477 ([email protected]) office and Western accounts assistant: Alexander Carlos, 323-370-2400 ([email protected]) Production manager: Cingular phones.
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