Downtown Cleveland's Galleria and Erieview Tower Sold For 17.7 Million!

Wow, I wonder what's going to happen?

August 3, 2018

James Kassouf, a parking lot operator and real estate mogul in Cleveland has bought the 40-floor Erieview Tower and the Galleria for 17.7 Million.

Kassouf and company plan to renovate: turning twelve office floors into 220 top-notch apartments, updating tenant suites and all sorts of extras.

"The idea of bringing something to Cleveland that hasn't been done before is compelling. We are striving to deliver a Class A office tower that has residential, fitness, retail, dining, entertainment and parking components all in one project." said Kassouf. 

Currently the Galleria features a YMCA which has been there for two years and a Winking Lizard. The largest tenants in the Erieview Tower include two law firms. As of last year, the tower was 45% leased out, while the Galleria was around 60%.