Docs Find Relief At Last - Crain`s Cleveland Business

Transcription

CCLB MAIN 09-11-06 A 1 CCLB
9/8/06
4:26 PM
Page 1
www.crainscleveland.com
SEPTEMBER 11 - 17, 2006
Vol. 27, No. 37/$1.50
TV TUSSLE
LATENEWS
MARC’S TO ADD 2 LINKS
TO DISCOUNT CHAIN
NORTHEAST OHIO
CABLE RIVALS SHIFT
GAME PLANS AS NEW
SEASONS ARRIVE.
PAGE 3
Parma-based Marc’s plans to
open its smallest store yet in the
Coventry neighborhood of
Cleveland Heights this fall, and to
add a store of a more typical size
in Niles as well. The discount
retailer’s 14,000-square-foot
space on Coventry Road should
open in December, according to
Marc’s marketing director Day
Armelli, and a 40,000- square-foot
store is expected to open near
Eastwood Mall in Niles in November. The new stores will bring
Marc’s total to 53 Ohio locations.
— John Booth
UH pursues
OfficeMax
building in
Shaker Hts.
HERBRUCK ALDER
PICKS UP PJK AGENCY
Cleveland-based Herbruck Alder
has swallowed up fellow employee
benefits firm PJK Agency Inc. of
Chagrin Falls. The deal adds three
PJK employees to Herbruck’s
payroll and brings Herbruck’s
employee count to 43 workers,
said Alison Muth, Herbruck’s
marketing programs manager.
Terms of the deal, which is
expected to close in January,
were not disclosed. — Shawn A.
Turner
CONCRETE FIRM WINS
CITY LOAN PRONTO
Midland Concrete & Sand
Products Inc. has received the
first, quicker-turnaround smallbusiness loan from the city of
Cleveland. The transportation
company will get a $200,000
loan to move its operations to
a former Mittal Steel Co. warehouse on West Third Street. The
company, which employs 26 at a
temporary site in the Flats, has
told Cleveland City Council it will
add six full-time jobs over the next
three years. City Council in June
gave the Jackson administration
the ability to make loans of up to
$250,000 without council
approval, thus shortening the time
it takes to process the loans.
— Jay Miller
ORG RETAINS
CB RICHARD ELLIS
By STAN BULLARD
and SHANNON MORTLAND
sbullard@crain.com
These numbers
show the average rate
increases for medical
malpractice insurance in
Ohio since 2000:
2000: 14%
2001: 21%
2002: 30%
2003: 30%
2004: 20%
2005: 6.7%
2006: down 1.5%
SOURCE: OHIO DEPARTMENT
OF INSURANCE
LISA HANEY/NEWSCOM
Docs find relief at last
Tort reform helps apply brakes to steep malpractice
insurance hikes; more physicians staying in Ohio
By SHANNON MORTLAND
smortland@crain.com
M
any Ohio doctors finally can exhale.
For several years, physicians have held
their breath each time they renewed
their medical malpractice insurance,
wondering if rates would rise 20%, 30% or more.
However, medical liability insurance rates in the state
finally have begun to level off — and even decline
slightly — after years of climbing to levels that were
some of the highest in the country.
“The market really appears to be slowly stabilizing,” said Ann Womer Benjamin, director of the Ohio
Department of Insurance. “Rates for the five major
medical liability companies in Ohio show an average
decrease of 1.5%. That follows significant increases
in the past six years.”
Just two years ago, doctors were fleeing the state
and closing or limiting their practices because they
no longer could afford Ohio’s malpractice rates.
See MALPRACTICE Page 8
University Hospitals may provide
the city of Shaker Heights with the
salve for the wound that was created
by the departure of OfficeMax.
Three sources familiar with the
situation, who spoke on condition
they not be identified, said the hospital system is conducting due diligence
to buy the big office building formerly
occupied by OfficeMax as a new home
for UH’s back-office employees.
The 227,000-square-foot building
at 3605 Warrensville Center Road
became vacant late last year after
OfficeMax decided to consolidate its
headquarters operations in the
Chicago area.
UH’s pursuit of the OfficeMax
building means, at least for now, that
the hospital system is passing on
options to consolidate the backoffice employees in either the 668
Euclid Building downtown, where it
might have spurred a renovation, or
in empty space at the Halle Building,
1228 Euclid Ave. However, people
close to downtown advocates say
they hope to snag some hospital jobs
at some point in the future.
UH for more than a year has been
searching for about 100,000 square
feet to house around 600 employees.
The hospital system hopes to combine
back-office employees from throughout the region and to free up space at
its main campus at 11000 Euclid Ave.
See UH Page 7
Capital campaign, student retention on new KSU president’s list
By SHANNON MORTLAND
smortland@crain.com
No longer a New Orleans resident,
Lester Lefton doesn’t need to worry
about walls of water coming at him
after a storm.
However, in his new job as president of Kent State University, he faces
another pressing problem — a lack of
students flooding the main campus.
Dr. Lefton said declining enrollment
is one of the biggest tasks he must
tackle at Kent State, along with the
need to grow significantly the school’s
$100 million endowment and to make
the university a major player in the
region’s business community.
“Kent State is going to face an
enrollment challenge over the next
several years. Right now, I consider
that my No. 1 challenge,” said Dr.
Lefton, who was provost and senior
vice president for academic affairs at
Tulane University in New Orleans
before taking over at Kent State July 1.
This fall, Kent State expects its
main campus enrollment to be
about 22,600, down by about 1,000
students, or around 4%, from its fall
2005 total of 23,622. That trend is
expected to continue.
“If we don’t do anything, enrollment will be down for the next several
years,” Dr. Lefton said.
See LEFTON Page 14
SPECIAL SECTION
0
71486 01032
NEWSPAPER
6
37
ORG Real Property of
Beachwood has shifted from
internal property management to
outside property management in a
new partnership with CB Richard
Ellis Asset Services. The switch
involves ORG’s 1.5-million-squarefoot commercial portfolio, except
for its apartments. ORG partner Ed
Schwartz said the shift allows
himself and partner Jon Berns to
focus on property acquisitions and
development. Mr. Berns said the
two liked the way CB managed
ORG’s newly purchased Lakepoint
Office Park and decided to expand
the relationship. Three staffers
moved to CB from ORG and two
jobs were cut. — Stan Bullard
RUNAWAY
MALPRACTICE
RATES REINED IN
SMALL BUSINESS
Area companies affected by summer’s flooding
getting operations back to normal Page 21
PLUS: OUTDOOR DINING
IT’S ABOUT TIME
& MORE
Entire contents © 2006
by Crain Communications Inc.
2
9/8/06
2:46 PM
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CORRECTION
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Cleveland’s new airports chief
misstated the ward in which Cleveland
Hopkins International Airport is located.
The airport is in Ward 20, which is
represented by Council President
Martin J. Sweeney.
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9/8/06
2:47 PM
Page 1
3
$2M Cleveland Range project heats up
In works for three years, expansion is set
to add 30 jobs, 43,000 square feet to complex
By DAVID BENNETT
dbennett@crain.com
An expansion project involving
Cleveland Range Inc. that has been
on simmer because of the need to
acquire land now is steaming ahead.
THE WEEK
IN QUOTES
“We’re not getting
the phone calls and
letters from doctors
who say they’ve got to
pick up and leave
Ohio.”
— Tim Maglione, senior director
for government relations, Ohio
State Medical Association. Page
One
“We want to shake
(out) people who are
lost, who don’t know
what their next step is
in life. We’re trying to
move them off the
starting line and get
them engaged in
education somehow.”
— Michael Devlin, vice
president of marketing and
communications, Cuyahoga
Community College. Page 4
“We’re looking at the
sort of oddball things,
but we’re not just going
nutsy and looking at
every stupid thing
that comes along.”
— Dr. Derek Raghavan,
chairman and director, Taussig
Cancer Center. Page 11
“Most small businesses
have fewer than 10
employees and many
are run by a sole
proprietor, which
means that when
disaster strikes, there
are fewer hands on
deck to help with
recovery, clean up
and continuing the
businesses.”
— Steve Millard, executive
director of the Council of Smaller
Enterprises. Page 21
The Ohio Department of Development at the end of August approved
a $150,000 business development
grant for costs associated with the
acquisition of property so that the
maker of commercial foodservice
equipment can add 43,000 square
feet to its East 179th Street headquarters and manufacturing complex.
The $2 million project, which has
been on the drawing board for about
three years, is expected to create 30
jobs.
Cleveland & Nottingham Villages
Development Corp. has completed
the purchase of two acres north of
St. Clair Avenue, on East 179th Street,
where Cleveland Range will build the
addition. The site was a tract of nine
separate lots — eight of which were
owned by residential owners — that
had to be acquired one parcel at a
time, said Yolanda Anderson, executive director of the development
corporation.
Plans call for the development
corporation to assemble the land
and sell it to the manufacturer at a
fair market value. Cleveland Range
plans to expand its 182,000-squarefoot production complex at 1333 E.
INSIGHT
KEEPING SCORE
As fall seasons begin, regional sports networks shift
their game plans with one eye on the opponent
By JOHN BOOTH
jbooth@crain.com
apiece featuring Ohio State and Kent
State universities.
“There will be a lot of events on the
ike the leaves changing and
Canada geese heading south, schedule,” Mr. Liberatore insisted. “It’s
the shifting tussle between just not done.”
The shift at FSN Ohio is almost a
Northeast Ohio’s regional
mirror
image: After filling the summer
sports television networks says fall
is right round the corner. While months mostly with nationally
produced Fox Sports
Cleveland Indians-owned
“We’re not giving
shows, FSN Ohio will set
SportsTime Ohio prepares
up
on
any
season.
the table with a range
for its first Tribe-free
We’re not throwing in of live and local event
programming slate, rival
the towel and saying programming.
and former Indians TV
we’ll give them
FSN Ohio recently
home Fox Sports Net
(SportsTime
Ohio)
the
signed
a 70-game deal
Ohio dives back into the
summer. We’ve really with the Cleveland Cavalive-game pool.
moved on from”
liers and also is running a
After a heavy summer
losing the Indians’ TV 14-game high school footreliance on Indians games,
rights.
ball schedule that includes
SportsTime Ohio’s current
– Steve Liverani, general
eight live broadcasts. The
fall schedule, which starts
manager, Fox Sports Net Ohio
network also is continuing
Oct. 1, includes no live
event programming. However, network its broadcast agreements with the Midhead Jim Liberatore said that’s likely to American Conference and the Columchange. He said SportsTime Ohio is in bus Blue Jackets of the National Hockey
negotiations with the Ohio Athletic League.
Still, FSN Ohio general manager
Conference and Cleveland State
Steve
Liverani is playing down the
University to televise football and
basketball games, and deals are close winds of seasonal change.
L
on three televised basketball games
ISTOCKPHOTO/ILLUSTRATION: KRISTEN WILSON
See SPORTS Page 34
179th St. to 225,000 square feet.
Cleveland City Councilman Michael
Polensek, whose Ward 11 includes
the Cleveland Range property, said
the final phase of environmental
tests on the property is under
way. Once tests are completed, two
remaining vacant buildings on the
site are set for demolition.
For at least two years, Cleveland
Range has said it would require more
See RANGE Page 6
Fee income
helps banks
offset higher
interest rates
By SHAWN A. TURNER
sturner@crain.com
Fee-generating products developed
during the past year by Northeast
Ohio banks appear to have helped the
institutions make up some of the
earnings lost to the higher interest
rates they must pay on deposits.
Through the first six months of
2006, banks largely have been able to
post gains in fee income that have
outpaced overall earnings growth,
according to second-quarter numbers
filed by the institutions. Perhaps it’s
no coincidence that the time frame
coincides with the launch of new
products, such as new checking
accounts and rewards programs
based partly on credit card usage.
For example, fee income at
Akron’s FirstMerit Corp. was up 2.5%
during this year’s first half even as its
earnings overall in that period were
down 13% from the first half of 2005.
This growth in fee income follows the
introduction last fall of a pair of new
fee-based checking accounts.
“We try to maintain a pretty
neutral balance sheet in terms of
how interest rates would affect us,”
said FirstMerit investor relations
officer Tom O’Malley. “By building
up fee income, that protects you
from interest rate risk.”
The new accounts are dubbed the
Gold and Diamond accounts and
carry monthly fees of $10 and $15,
respectively, if certain conditions are
not met. Mr. O’Malley could not
quantify the popularity of the new
accounts, but he did say that about
35% of FirstMerit’s income is derived
from fees.
Also offering a new checking
account product during the past
year is Columbus-based Huntington
Bancshares Inc. Its Performance
Checking account provides for free
overdraft protection and foreign
ATM usage, said Rob Soroka, senior
vice president and retail group
executive in Cleveland. Performance
Checking charges a $15 fee if deposit
requirements are not met.
“When you’re making less money
in one area, you have to make it up
in others,” Mr. Soroka said. “There’s
a lot more emphasis on growing our
account base.” Huntington’s fee
income in this year’s first half was up
nearly 25% from a year ago, to $845.2
million from $677.9 million.
See BANKS Page 6
4
9/8/06
2:48 PM
Page 1
For assistance with your real estate
in Cleveland or in other parts
of the United States, contact:
Terry Coyne
Senior Vice President
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1350 Euclid Ave., Suite 300 • Cleveland, Ohio 44115 • (216) 861-3040
www.grubb-ellis.com
Tri-C hopes TV ads, ‘street team’
marketing attract younger students
By SHANNON MORTLAND
smortland@crain.com
Mayor Frank Jackson is exactly the
type of student Cuyahoga Community
College is gunning for.
As an inner-city kid of immigrant
parents, the young Frank Jackson
might have fallen through the educational cracks if he hadn’t decided
to get his associate’s degree at Tri-C,
which led him to obtain his bachelor’s, master’s and law degrees from
Cleveland State University.
There are probably a lot more like
him out there, and Tri-C has revamped
its marketing tactics to find them,
said Michael Devlin, vice president
of marketing and communications
at Tri-C. While TV ads will still have
a big role, Tri-C is sending a “street
team” of employees out to find
students in their neighborhoods and
hangouts.
“We want to shake (out) people
who are lost, who don’t know what
their next step is in life,” he said.
“We’re trying to move them off the
starting line and get them engaged in
education somehow.”
The street team consists of about
a half-dozen Tri-C employees who
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go to local festivals, concerts and
events aimed at the 18- to 35-yearold crowd, Mr. Devlin said. Tri-C
started in July by placing a booth at
the Ingenuity Festival downtown,
where the street team also approached
young people to talk to them about
Tri-C and pass out literature, he said.
“We want to just be where these
people are so they start to associate
Tri-C with a younger, hipper demographic,” Mr. Devlin said.
The average age of Tri-C students
now is 29, but Mr. Devlin would like to
reduce that figure to 25 or 26. Tri-C
has always dreamed of attracting
younger students, but he said it hasn’t
gone after that market as aggressively
as it could have.
Tri-C also will pursue its goal by
airing new ads on more cable TV
stations that cater to the 18- to 35year-old age group.
“You’re less likely to see us on with
Dick Goddard, and more likely to see
us on with Jon Stewart” of “The Daily
Show” on Comedy Central, Mr.
Devlin said. Though Tri-C has advertised on cable TV in the past, he said
the ads appeared during shows that
attracted an older demographic.
The latest ads feature teachers,
students and graduates of Tri-C who
are doing interesting things with
their educations or have turned their
two-year degree into successful
careers, Mr. Devlin said. Mayor Jackson’s office said the mayor has
agreed to appear in a promotional
video for Tri-C.
The ads also aim to showcase the
quality of Tri-C’s programs and to
show they can lead to “cool” and
exciting careers, Mr. Devlin said. For
example, he said many students are
likely unaware that Tri-C has majors
such as recording arts technology,
dance or graphic communications
and photography.
“There’s this enormous range of
things we can do, and I’m not sure
people understand that,” Mr. Devlin
said.
Tri-C in mid-September will begin
running a full-page ad each week in
The Plain Dealer’s Friday magazine.
The ad will feature two majors each
week for one year, as long as it seems
to be reaching the younger demographic that Tri-C is after, Mr. Devlin
said.
Mr. Devlin said he hopes the new
TV ads make viewers feel as though
they know the subjects of the ads,
what motivates them and what
drove their success. Though previous
Tri-C ads were well done, he said
they were missing those attributes.
Mr. Devlin said Tri-C previously
has viewed its competition as the
four-year colleges in Northeast Ohio
and around the state, but he believes
there’s a bigger force out there drawing kids away — making money.
“Our competition is Burger King
and The Gap,” he said. “The older
you get, the harder it is to go back to
school. We want to get them before
they complicate their lives, before
they have jobs and families.”
Q
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9/8/06
1:50 PM
Page 1
5
$14M expansion, renovation set for Hattie Larlham
Plan includes 35,000 square feet in additions
to provide patients services in one location
By SHANNON MORTLAND
smortland@crain.com
Responding to a need for more services for the disabled, Hattie Larlham
this week will break ground on a $14
million renovation and expansion of
its headquarters in Mantua.
The nonprofit provider of services
for the mentally retarded and developmentally disabled plans to add an
outpatient center, play area, helicopter
landing pad and a new wing to house
those with severe disabilities, plus
renovate its existing location as well,
said Dennis Allen, CEO of Hattie
Larlham. When construction is
complete, Hattie Larlham will add up
to 100 people to its staff of 275, he said.
The first phase of the project at the
Hattie Larlham Center for Children
with Disabilities will include building
a $3.4 million home for severely developmentally disabled and mentally
retarded residents, as well as adding
120 parking spaces, Mr. Allen said.
Those residents, whom Mr. Allen
said are the most “medically fragile”
that Hattie Larlham serves, now live
in the existing building. The 10,000square-foot addition that will house
those residents also will have four
beds for people who need shortterm care, specifically those with
traumatic brain injury.
“We will talk to local children’s
hospitals and we will work out a plan
where they will refer those children
who reach a point where they don’t
need to be in the hospital, but need
a sort of transitional service before
going home,” Mr. Allen said. That
addition is scheduled for completion
next spring.
In phase two, a 25,000-square-foot
Life Achievement Center will be built
to house various physician, rehabilitation and therapy services, as well
as a play center that will be designed
to improve cognitive, social, physical
and emotional skills. Construction
on this portion of the project is
scheduled to begin next spring
and is targeted for completion by
summer 2008.
Terrence Ryan, superintendent
of the Cuyahoga County Board of
Mental Retardation and Developmental Disabilities, said providing services
in a campus-like setting has its advantages, and Hattie Larlham does it well.
“When you’re dealing with medical
visits, it’s nice to be able to coordinate
the appointments together and not go
in five or six times,” he said.
The final phase of the project will
include building the helicopter pad
and renovating the existing 85,000square-foot structure at a cost of $4.2
million.
That building opened in 1964, and
was expanded in the 1970s and
1980s. The building is outdated and
is not equipped for the current
technology or the developmental
problems today’s children and
young adults face, Mr. Allen said.
Medicine has lowered the number
of babies who are born with syndromes such as Down Syndrome, so
Hattie Larlham now treats more
children who suffer from trauma
that occurred during pregnancy or
birth and resulted in developmental
disabilities or mental retardation,
Mr. Allen said.
Hattie Larlham already has raised
$8.6 million during the silent phase
of its $14 million capital campaign,
which was launched at the start of
this year to fund the construction
project. Mr. Allen said the campaign
will enter the public phase this
month, and the organization expects
to raise the rest of the money by the
time construction is done in two
years.
Q
STUFF
You do it
Self-storage company CEO
shows faith by buying shares
U-Store-It CEO Dean Jernigan
seems to know a deal when he
sees it.
According to a report last Friday
by the Associated Press, Mr.
Jernigan bought 195,000 shares of
the Middleburg Heights self-storage
company for $3.9 million.
He paid an average of $19.88
per share, the AP noted.
“Merrill Lynch analyst Christopher
Pike said Friday the CEO’s investment helps ‘confirm our thesis
regarding the unrealized upside in
U-Store-It,’ ” according to the article.
“Pike reiterated a ‘Buy’ rating on the
shares, maintaining a price target of
$21, compared with Thursday’s
closing price of $19.95.”
Mr. Pike added, “We believe that
an operational turnaround is far
from fully priced into U-Store-It’s
stock.”
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3:37 PM
Page 1
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Banks: Key hits $1B
in noninterest income
for first half of ’06
continued from PAGE 3
Net interest income — the difference between interest income and
interest expense and the primary
profit source for banks — has been
down as rising interest rates have
eroded margins. To counteract that
development, banks have been trying
to bolster revenue streams that are
not tied to interest rates.
“Noninterest income (fee income)
at banks has been rising,” said Keith
Leggett, senior economist with the
American Bankers Association in
Northern Trust Banks are members FDIC. © 2005 Northern Trust Corporation.
A L L O C AT I O N
O F
T I M E
Washington, D.C.
KeyCorp saw noninterest income
rise by slightly more than 4% during
the first half of 2006, to $1 billion
from $986 million during the like period in 2005. One reason, Key
spokesman William C. Murschel said
in an e-mail, is the company’s introduction last Sept. 1 of PayPass, a free
technology that allows customers to
pay for items by tapping their credit
cards against special readers that extract payment information.
National City Corp. also has gotten in on the latest round of new
product introductions. Following
the rollout last year of its Identity
Protect service, which charges customers $8.95 a month to help guard
against identity theft, the bank in
March unveiled its rewards program,
“points from National City.” Enrollment is free for the program, which
allows customers to rack up points using their National City-issued credit
card and encourages credit card use.
“Fee income plays an important
role in any rate environment,” which
is why National City created the
points program, said Lakhbir Lamba,
executive vice president of consumer
and small business lending.
National City was the only major
bank in Ohio reporting a decline in
fee income in this year’s first half
compared with the like period in
2005. Through the first six months of
the year, its fee income totaled $1.4
billion, down 19%.
“While we had fee income growth
over the first quarter, the decrease in
fee income year over year is largely
the result of a swing in hedging
results and (an) expected cyclical
slowdown in mortgage volume,”
spokeswoman Kelly Wagner Amen
said in an e-mail.
Q
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space to accommodate a additional
product line it acquired from its sister
company, Convotherm Elektrogerate
GmbH of Germany. The combination
steamer unit line augments Cleveland Range’s array of steamers, kettles
and other commercial cooking
equipment.
Richard Cutler, Cleveland Range
president, was traveling last week
and was not available for comment.
Cleveland Range, a subsidiary of
British foodservice equipment manufacturer Enodis Corp., employs
about 200. The company reported
sales of $27 million last year.
Mr. Polensek said with Cleveland
Range set to occupy an entire city
block, he expects the company and
Collinwood to prosper together.
“This is the kind of neighbor you
want,” he said. “People say manufacturing is dead, but these are goodpaying jobs. Hey, you don’t want
manufacturing jobs in your neighborhood? Send them over here.” Q
9/8/06
3:59 PM
Page 1
Shortage of bank tellers
basis of Tri-C program
Often, the best investment advice is about what not to buy.
Despite technology resulting in automation
of many institutions’ functions, need still exists
By JAY MILLER
jmiller@crain.com
Despite the rise in online banking
and the use of automated teller
machines, banks still must staff teller
positions at their branches, but often
have trouble finding people to fill
those jobs.
Cuyahoga Community College is
responding to meet that need.
Tri-C next month plans to launch
a program, 21st Century Teller, to
help provide qualified candidates for
these entry-level positions. The
short-run, nondegree program will
give students 60 hours of training
over four evenings for four weeks in
basic math and accounting, banking
and privacy regulations. It even will
offer a little instruction in crossselling bank products.
Robert Paponetti, vice president
of Tri-C’s work force and economic
development division, said the idea
for the program sprang from conversations he had with bank officials
about other programs. The work
force division has a number of
similar nondegree programs in fields
ranging from nurse assistant to
private security guard training.
Because of new technology that
has automated many banking transactions, Mr. Paponetti said, “You
would think you don’t need bank
tellers, but the banks are having
difficulty because there is a lot of
turnover.”
So Tri-C talked with bank officials
about curriculum needs and textbooks, Mr. Paponetti said.
He noted that the school hopes
to offer as many as five course
cycles a year with 20 students in
each class.
“We thought this was a great
idea,” said Maria Marrali, vice president of retail sales at First Federal
Savings and Loan Association of
Lakewood, one of the institutions
consulted. “As people graduate, we
can pull them in.”
According to statistics compiled
by the Ohio Department of Job and
Family Services, Northeast Ohio
banks will hire about 250 tellers a
year between now and 2014, mostly
to replace tellers who have moved
up at their bank or moved out. The
department estimates the average
teller’s salary at $21,570.
Ms. Marrali said First Federal,
which has added offices in the last
few years, has 25 to 40 teller openings to fill each year, underscoring
the need for a program to train more
people in the field.
National City Corp. spokeswoman
Kelly Wagner Amen said National
City Bank executives were excited
about the course Tri-C has created.
“Our people thought the curriculum was very robust,” she said.
Mr. Paponetti said the college is
looking at adding a second banking
program to train people to be loan
originators.
Q
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Chairman, Berkshire Hathaway
Owner, CORT Furniture Rental
If you look closely at your office furniture, you’ll probably notice, among other things, that it doesn’t appreciate.
So buying isn’t always the best idea. In fact, renting is not only often tax deductible, it also frees up cash flow,
which can be useful. For instance, you could buy other companies, as I did with CORT for Berkshire Hathaway.
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UH: Moving nonclinical activities
off main campus a goal for UH
for a looming, $1 billion construction
program.
The hospital system won approval
Aug. 18 from the Cleveland City Planning Commission to demolish four
main campus buildings, referred to as
the former “nurses’ dorms,” to provide
open space for the staging of construction equipment and materials.
The buildings house some employees
who aren’t directly involved in patient
care, such as its marketing department.
Principals in the potential transaction refused to discuss it.
Rob Whitehouse, a University
Hospitals spokesman, said the
hospital system doesn’t have an
agreement on a particular property
and is considering several buildings
for its back-office personnel requirements. He refused to confirm
whether the former OfficeMax building is in that mix.
However, Mr. Whitehouse did say it
is UH’s goal to devote as much of the
space as possible at the hospital
system’s main campus to clinical
activities and to move nonclinical
activities to an off-campus location.
Many of the office workers in the
nurses’ dorms may stay in other
offices on campus, he said, but others
may be shifted to the off-campus location, although specific numbers are
not available.
Robert Roe, managing director of
Staubach Co.’s Cleveland office,
declined to disclose whether the
brokerage is in talks about the
OfficeMax building with University
Hospitals, though he said the property has multiple suitors. He said the
building doesn’t carry a stated asking price.
OfficeMax spokesman Bill Bonner
in Chicago did not return three
calls for comment. The company
announced last September that it
planned to consolidate its Cleveland
retail headquarters with a newly built
corporate headquarters in Naperville,
Ill.
Boise Cascade Co. bought OfficeMax for $1.3 billion in December 2003
and adopted the OfficeMax name
later.
Patrick Campbell, Shaker Heights
economic development director,
also declined comment.
Steve Egar, president of Egar
Steiger Associates in Beachwood,
said the OfficeMax building is one of
just two available office buildings in
the eastern suburbs that could
accommodate an office requirement
of 100,000 square feet or more. The
other building that big that’s available is one of the former MBNA
buildings in Beachwood that Bank of
America is now marketing; insiders
say it’s not now in the mix for UH.
“The market’s the tightest on the
East Side that it’s been in years,” Mr.
Egar said.
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7
8
9/8/06
3:47 PM
Page 1
Malpractice: Insurers report improved market since passage of bill
Cuyahoga County was especially hard
hit, as local hospitals lost specialists
such as obstetrician-gynecologists,
neurosurgeons and cardiologists.
That’s no longer the case, said Tim
Maglione, senior director for government relations at the Ohio State
Medical Association, the professional
group for Ohio’s doctors.
“We’re not getting the phone calls
and letters from doctors who say
they’ve got to pick up and leave
Ohio,” he said.
Mr. Maglione and Ms. Womer
Benjamin both credit the moderation
in malpractice rates to the tort reform
bill that was passed by the state Legislature in 2003. The bill limited the
amount of noneconomic damages
awarded in medical malpractice
cases to $250,000 or three times the
plaintiff’s economic loss, not to
exceed $350,000.
Ms. Womer Benjamin said the
CEOs of the five medical malpractice
insurers that together account for an
estimated 60% of the malpractice coverage in Ohio have told her in recent
weeks that the market has “greatly
improved” since the bill was enacted.
“There has been a slight decrease
in frequency of (malpractice) cases
filed,” she said. “They are seeing
fewer frivolous lawsuits.”
Since the tort reform bill passed,
there also haven’t been as many
“runaway verdicts” that awarded
huge sums of money to the plaintiffs
in medical malpractice cases, Ms.
Womer Benjamin said.
Make way for new players
The improved market even has
prompted a sizable medical malpractice insurer to enter the Ohio market.
Ace American Insurance Co. of
Philadelphia last month partnered
exclusively with Toledo-based insurance broker Hylant Group to market
its insurance in Ohio for physicians,
said Richard Hylant, president of
Hylant Group Toledo. Ace provides
medical liability insurance to individual physicians, hospitals and
health systems, as well as to companies in the biotechnology, pharmaceutical, research and medical
device fields.
Ace’s interest in Ohio is quite a shift
from a few years ago, when insurance
companies were halting their medical
malpractice business in the state due
to high jury verdicts. Ms. Womer
Benjamin said she has licensed one
other company to issue medical
malpractice insurance in Ohio in the
last two years. Before that, new
companies had not entered Ohio since
the early 1990s, she said.
Still, the Ohio medical liability
market isn’t completely healed, said
Dr. John Bastulli, an anesthesiologist
at St. Vincent Charity Hospital and
chairman of the legislative committee
at the Academy of Medicine Cleveland/Northern Ohio Medical Association. The association represents
4,000 local physicians.
“There are a large number of (med-
ical) residents that aren’t going to stay
in Ohio because of medical liability
insurance,” and some don’t even want
to train here, Dr. Bastulli said.
Even the doctors who remain are
struggling to pay rates that have stabilized at their peak, Dr. Bastulli said.
That’s why the Ohio State Medical
Association has refocused its energy
on helping doctors better manage the
costs of running their practices, Mr.
Maglione said.
“While rates may be stabilizing,
they’re still very expensive,” he said.
“Physicians have to find ways to not
only keep up with that expense,
but the economics of their practice.”
Mr. Maglione said the association
also is focusing on medical malpractice cases that go to court. Ohio law
allows defendants to recoup the
money they spent defending themselves in a lawsuit if the court deems
that lawsuit frivolous. The association
helps those defendants bring sanctions against the attorney who brought
the frivolous case to court, he said.
State keeps up the pressure
Big business services for
a small business budget.
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Ms. Womer Benjamin said the
Ohio Department of Insurance also
isn’t resting.
The department has implemented
more comprehensive reviews of insurance rates, and Ms. Womer Benjamin
now personally reviews any property
and casualty insurance rate change
request that is 5% or more. This year
also is the first year that each insurance company doing business in Ohio
annually must justify its rates, even if
the insurer isn’t requesting rate
increases, she said.
Meanwhile, Ohio doctors are
pushing Senate Bill 88, which would
establish a pilot project in Northeast
Ohio under which all medical
malpractice cases would go through
a mandatory arbitration process
before going to trial.
Under the bill, which passed the
Senate in May, each side in a
medical malpractice complaint
would select an arbiter, and a chairperson would choose a third person
to serve on an arbitration panel. The
idea is to reduce the time and
money it takes to go to trial, as well
as to deter frivolous lawsuits.
Q
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Cleveland bank among those
mentioned by WSJ story about
targeting students
KeyCorp was among the
companies mentioned in a Wall
Street Journal story last week
about how financial institutions “are
swarming over college campuses,
pushing promotions and free gifts
to entice students to sign up for
new bank accounts, credit cards
and insurance policies.”
The Journal reported that for
many banks, “students represent
one of the fastest growing business
segments. Moreover, their research
shows that a young adult who opens
an account often remains a loyal
customer for many years to come.”
For opening a new student
checking account, KeyCorp’s
KeyBank is giving away a free iPod
shuffle music player, the paper
notes. The checking account has
no monthly fees or minimumbalance requirements, and it
reimburses up to $6 per month in
ATM fees charged by other banks.
30
9/7/06
2:14 PM
Page 1
LARGEST INDUSTRIAL PARKS
RANKED BY TOTAL ACRES �
Rank
1
2
3
3
3
6
6
8
9
10
11
12
13
14
14
16
17
18
19
20
21
21
23
24
25
26
27
Industrial Park
Address
STRONGSVILLE BUSINESS AND TECHNOLOGY PARK
Total
acres
Number of
acres
occupied
Number of
businesses
in park
Business located in park
Freeway access
Owner/Developer
Phone number
Property manager
Phone number
1,693
1,185
65
Avery Dennison, GE Advanced
State Routes 82 City of Strongsville
Materials, MCPc, Hy-Level Industries, and 42, I-71,
440-580-3100
Clark-Reliance Corp.
I-80
City of Strongsville
440-580-3100
571
550
NA
Conferon, Northcoast Color, Cima
I-271, I-480
Plastics, Highland Equipment,
Hurley and Assoc., Darrow Enterprises
NA
NA
400
250
41
Diebold Corp., Belden & Blake,
I-77
Cintas, Lexington Technologies,
The Ohio Lottery, Service Packaging
DeHoff Development Co.
330-499-8153
DeHoff Development Co.
330-499-8153
400
370
17
American Heritage Billiards,
Schwann’s, Aurora Plastics,
Pods, Hammer Co.
I-80, I-480
Geis Bros., New Venture Ltd.
330-528-3500
Geis Property Management
330-528-3500
LIVERPOOL INDUSTRIAL PARK �
400
300
12
MTD Products Inc., Shiloh
Industries Inc., Independent
Steel Co., Webb-Stiles Co.
I-71, state
Route 303
MTD Products Inc.
330-273-7440
NA
NA
FROST ROAD COMMERCE CENTER
350
320
24
L’Oreal, Venture Lighting,
A. Duie Pyle Cos.,
Automated Packaging
I-80, I-480
Geis Family Ltd.
330-528-3500
330-528-3500
350
50
13
Deming Enterprises Inc.,
Millonzi International, Lake
County Water Dept., Clark Rubber
State Routes 2
and 20, I-90
Deming V LLC
440-358-9440
Deming Resources LLC
440-358-9440
325
312
43
DeMag Plastics Group,
PPG Industries, Atlantic Tool & Die,
Resolve, Empco
State routes 42 City of Strongsville
and 82, I-71,
440-580-3100
I-80
285
115
9
Royal Appliance, Best Buy, Shaw
I-271, I-480
Carpet, PMG of Ohio, Saeco USA,
RIS Paper, Stride Tool, Home Depot
First Industrial LP
216-986-2744
First Industrial Realty Trust Inc.
216-986-2744
269
169
NA
K & M International , General Electric, I-480, I-271
Production Tool, Cavalier Cleaning
System Inc., Developers Diversified
Heritage Development Group
440-247-5400
Heritage Development Group
440-247-5400
258
249
32
ICI Paints, Cintas, National
City Bank, Mirifex, Telsource, DHL
State Routes
42 and 82,
I-71, I-80
440-580-3100
440-580-3100
200
90
19
Pneumatic Scale-Akron Packaging
Division, SpunFab Adhesive
Fabrics, Graphic Arts Rubber Inc.
State Route 8,
I-76, I-77
City of Akron
330-375-2133
Office of Economic
Development
330-375-2133
187
12
1
Fichtel & Sachs Industries Inc.
I-80, I-90,
Comrow Ltd.
state Route 301, 440-324-9933
state Route 254
Comprehensive
Development Solutions
419-425-9538
180
129
9
ASW Properties, Norwe Inc.,
Keystone Realty, ASC Industries,
Wacker Chemical, Goodyear
I-77
ASW Properties Ltd.
330-733-8107
180
90
12
KraftMaid Cabinetry Inc., Johnsonite, I-90, I-80
Sajar Plastics, Normandy Industries,
Polychem, Mercury Plastics
The Federal Improvement Co. NA
216-363-6429
NA
157
41
12
Argo-Tech Corp. Keene Building,
I-90
Products, Pat Henry Group, Defense
Contract Audit Agency, Eaglehead Mfg.
Argo-Tech Corp.
216-692-6145
Argo-Tech Corp.
216-692-6145
150
143
8
Parker Hannifin Corp., E. C.
Morris Corp., Ebner Furnaces
Inc., Soprema Inc., Accel Group
I-76
Frederick M. Shepperd
330-364-6222
NAI Cummins Real Estate
330-535-2661
147
31
NA
Wills Trucking, All-Erection
Crane, Fed-Ex
I-77, I-271,
I-80
NA
NA
NA
NA
144
132
13
Filmco, McMaster Carr, Freedom
Health, Mill Distributing,
Segram Controls, Balancing Co.
State Route 43, Beech Realty LLC
I-80, I-480
330-562-1041
143
83
14
Invacare, Norlake, Elyria
State Route 57, Logos Corp.
Manufacturing, Tool & Die Systems, I-480
440-324-3550
Wolff Bros.
Logos Realty Co.
440-324-3550
140
100
76
Hankook Tire, Goodrick De-Icing,
Paychex, Prudential Financial,
Bannot, Infocision Management Inc.
I-77 & state
Route 241
A & M Associates
330-896-3253
Cam Inc.
330-896-3253
140
40
8
Cisco Systems Inc., Corporate
Express, OEConnection, Ikon
Office Solutions, Equity Consultants
I-77, I-271
M & P Associates
800-579-3253
CAM Inc.
800-579-3253
138
114
7
NA
State Routes 2, Northern Ohio Associates LP
57 and 113,
212-580-7200
I-80, I-90
110
104
14
Applied Laser Technologies, Arrowhead I-480
Inc., EMX Industries, Erieview Metal
Treating Co., Phoenix Steel
City of Cleveland
216-664-2406
City of Cleveland
216-664-2406
109
49
12
Andrews Moving & Storage, UPS
Logistics, Sky Bank, Maverick,
FirstMerit Bank, International Paint
I-77, I-80
Fogg
216-351-7976
Ray Fogg Corporate
Properties LLC
216-351-7976
107
107
NA
TCP, Crown Mold & Machine,
Drossbach, Filmco Inc., Beck
Manufacturing, Godfrey & Wing
NA
Beech Realty LLC
330-562-1041
Beech Realty LLC
330-562-1041
105
70
3
Great Lakes Cheese Co., Duramax,
Electrolock Inc.
State Route 422, Quad E LP
I-480
NA
Foltz Parkway, Strongsville 44149
TWINSBURG INDUSTRIAL PARK
Highland Road/Enterprise Drive, Twinsburg 44087
AKCAN INDUSTRIAL PARK
Mt. Pleasant and Mayfair Roads, City of Green 44720
INTERSTATE COMMERCE CENTER
Mondial Parkway, Streetsboro 44241
Marks Road, Valley City 44280
I-480 & Frost Road, Streetsboro 44241
WIND POINT RESERVE CORPORATE CAMPUS
P.O. Box 21, Perry 44081
PROGRESS DRIVE BUSINESS PARK
Pearl Road and Westwood Drive, Strongsville 44149
EMERALD VALLEY BUSINESS PARK
Cochran and Pettibone roads, Glenwillow 44139
MIDWAY INDUSTRIAL PARK
Dutton & Midway Drives, Twinsburg 44087
DOW CIRCLE RESEARCH PARK
Sprague Road, Strongsville 44136
ASCOT INDUSTRIAL PARK
State Road, Akron 44223
FRENCH CREEK BUSINESS PARK
East River Road, Sheffield Village 44054
CAK INTERNATIONAL BUSINESS PARK
International Pkwy. & Global Gateway Drive, Green 44721
GEAUGA INDUSTRIAL PARK
Industrial Parkway, Middlefield 44062
HERITAGE BUSINESS PARK
23555 Euclid Ave., Euclid 44117
QUANTAM CENTRE
Greenwich Road, Wadsworth 44281
COLUMBIA ROAD INDUSTRIAL SUBDIVISION
Columbia Road, Richfield Township 44286
AURORA INDUSTRIAL PARK I
P.O. Box 404, Aurora 44241
TAYLOR WOODS INDUSTRIAL PARK
Taylor Parkway, North Ridgeville 44035
AKRON CANTON CORPORATE PARK
1525 Corporate Woods Parkway, Green 44685
STONEGATE CORPORATE PARK
Highlander Parkway, Richfield 44286
NORTHERN OHIO INDUSTRIAL PARK
1400 Lowell St., Elyria 44035
CLEVELAND INDUSTRIAL PARK
Johnston Parkway and Seville Road, Cleveland 44128
BRECKSVILLE BUSINESS PARK
West Snowville Road/Miller Road, Brecksville 44141
STREETSBORO INDUSTRIAL PARK
P.O. Box 2490, Streetsboro 44241
TROY INDUSTRIAL PARK
Troy Township 44234
ASW Properties Ltd.
330-733-8107
440-580-3100
Beech Realty LLC
330-562-1041
Northern Ohio Associates LP
419-342-2045
Great Lakes Cheese
440-834-2500
9/7/06
2:44 PM
Page 1
Rank
28
29
29
31
31
33
33
35
36
37
38
39
40
40
Industrial Park
Address
Total
acres
Number of
acres
occupied
Number of
businesses
in park
AURORA INDUSTRIAL PARK II
104
40
5
102
56
102
Freeway access
Scope & Assoc., Jade-Sterling
Steel, National Artcraft
State Route 43, Beech Realty
I-80, I-480
330-562-1041
Beech Realty
330-562-1041
NA
Husqvarna/Viking, Industrial
Electrical & Wire Co., Control Co.,
Westshore, Kindercare
I-90
Beacon Westlake LLC
330-659-2040
Beacon Marshall Cos.
330-659-2040
102
36
Honeywell International, Federal
Express, Weltman Weinberg &
Reis, Dal-Tile, Virginia Tile, Hobart
State Routes
17 and 176,
I-77, I-480
Fogg
216-351-7976
Ray Fogg Corporate
Properties LLC
216-351-7976
100
75
24
Hughes Supply, AIT, Tru-Green,
Molly Maid, Advanced Plastics,
Midway Manufacturing, Marathon Steel
State Route 57, Logos Corp.
I-90
440-324-3550
Logos Realty Co.
440-324-3550
100
40
10
NA
State Routes 57 Shamrock Development
and 10, I-480
440-926-3950
Shamrock Development
440-926-3950
98
32
2
Quality Mold Inc.,
AESCO Electronics Inc.
I-76, I-77,
City of Akron
state Route 224 330-375-2133
Office of Economic
Development
330-375-2133
98
94
30
Pat Catan’s, Health-Mor Industries
Antares Management Solutions,
Scholastic Book Fair
State Routes
42 and 82,
I-71, I-80
440-580-3100
440-580-3100
96
9
1
Noble Metal Processing-Ohio LLC
State Route 8,
I-76, I-77,
I-80
Albrecht Inc.
330-376-6677
Grubb & Ellis
216-906-9690
94
76
7
The Ruhlin Co., Sharon
I-71, I-77
Manufacturing, Cell-O-Core Co.,
M & G Polymers, Atlantic Tool and Die
The Ruhlin Co.
330-239-2800
The Ruhlin Co.
330-239-2800
90
87
10
Cuyahoga County Board of Health,
FDC, Progressive Inc., Sheet Metal
Workers, Cleveland Plant & Flower
Geis Family Ltd.
330-528-3500
330-528-3500
87
38
5
Panther Training, Panther
I-71, I-76,
Beacon South LLC
Transportation, Blair Rubber,
state Route 224 330-659-2040
J Marco Galleries, Atlantic Tool & Die
Beacon Marshall Cos.
330-659-2050
86
86
9
NA
I-71, I-77
Medina County Economic
Development
330-722-9215
84
74
46
Dunkin Donuts, Charter One Bank,
Netflix, Blockbuster Video,
Concentra, Lennox, Frito-Lay
State Route 176, Fogg
I-71, I-90,
216-351-7976
I-480, I-490
84
55
NA
Performance Elastomers, Astra
I-76, I-80
Products, Highlander Logo Products
Blindcrafters, Custom Quality Inc.
Viking Parkway & Clemens Road, Westlake 44145
VALLEY BUSINESS PARK
Keynote Circle, Brooklyn Heights 44131
MIDWAY INDUSTRIAL PARK
Schaden Road, Elyria 44035
SHAMROCK/COMMERCE DRIVE INDUSTRIAL PARK
State Route 57, Grafton 44044
MASSILLON ROAD INDUSTRIAL PARK
State Route 241, Akron 44319
PARK 82
State Route 82 & Darice Parkway, Strongsville 44149
HUDSON DRIVE BUSINESS CAMPUS
Hudson Drive and McCauley Road, Stow 44224
SHARON CENTER INDUSTRIAL PARK
6931 Ridge Road, Sharon Center 44274
PARMA COMMERCE CENTER
West 130th St., Parma 44130
BEACON SOUTH
State Route 3 & Panther Pkwy., Seville 44273
SHARON CORPORATE PARK
I-71, I-480
1455 Wolf Creek Trail, Sharon Center 44274
JENNINGS FREEWAY INDUSTRIAL PARK
Hinckley Industrial Parkway, Cleveland 44109
RAVENNA INDUSTRIAL
State Route 88, Ravenna 44266
Crain’s Cleveland Business uses staff research and the most current references available to
produce its listings, but there is no guarantee these listings are complete. We welcome all
responses to our lists and will include omitted information or clarifications in coming issues.
NA=Not Available. Industrial parks located in our coverage area of Cuyahoga, Geauga, Lake, Lorain, Medina, Portage and Summit counties with a minimum of 60 acres and
with at least one business located on the property were surveyed. Information is from
the 2005 Largest Industrial Parks list. Contact Deborah Hillyer, dhillyer@crain.com, to
add an industrial park to the list.
We Believe in Building Relationships that Last
The Staubach Company is pleased
to have represented
St. Paul Travelers
in its office relocation to
60,000 square feet
in Park Center Plaza II
in Independence.
We appreciate the trust our clients place in our firm.
Call us today to discuss your real estate needs!
Great Lakes Region Corporate Services
www.staubach.com
(216) 861-7171
Property manager
Phone number
Business located in park
P.O. Box 404, Aurora 44202
BEACON WESTLAKE
Owner/Developer
Phone number
31
Sharon Corporate Park Inc.
NA
James Hudson
NA
Business lists and the 2006 Book of Lists are
available to purchase and download at
www.crainscleveland.com/lists
Ray Fogg Corporate
Properties LLC
216-351-7976
NA
NA
LIST RESEARCHED BY DEBORAH W. HILLYER
32
9/7/06
2:21 PM
Page 1
Don Schwaller - Classified Manager
Phone:
(216) 771-5172
Fax:
(216) 694-4264
E-mail: dschwaller@crain.com
REAL ESTATE
INDUSTRIAL SPACE
Copy Deadline: Wednesdays @ 3 p.m.
All Ads Pre-Paid: Check or Credit Card
COMMERCIAL SPACE
IMMEDIATE OCCUPANCY
AVON LAKE
FOR SALE OR LEASE
16,900 sq. ft. expandable.
Retail, industrial, automotive.
5 acres, 150 car parking.
6,150 sq. ft. a/c, showroom.
Save time - find your new location on-line
440-934-0013
www.colliersomlistings.com
&5(6&2 UHDOHVWDWH
&RPPHUFLDO,QGXVWULDO
Because smart & experienced beats smart every timesm
ZZZFUHVFRUHDOHVWDWHFRP
STREETSBORO
PROPERTY
216.861.7200
www.colliersom.com
FOR SALE OR LEASE
Two cranes, 3 docks,
1 double door. 33,000 sq. ft.
of Warehouse/Office
Call Mr. King @ 330 995-1081
INVESTMENT PROPERTY
BEDFORD HEIGHTS
Dental Office
REAL ESTATE
SERVICES
1635 sq. ft. beautifully
decorated and ready for
your cabinets & equipment!
Medical/Professional office
building located on
Northfield Road south of
Libby with easy access to
I-271 & I-480.
Available immediately.
PRIME I-X CENTER WAREHOUSE FOR LEASE
Secured Multi-Use,
t to
Ea
en d
Multi-Tenant Space.
jac elan s
to Acce sy
d
A lev in
I
I-9 71, ss
C opk rt
0 & I-7
AVAILABLE FOR LEASE
H irpo
I-4 7,
A
80
• 185,000 sq. ft., 11 docks, 1 drive-in door.
• 200,000 sq. ft., 3 docks, 1 freight elevator.
• Will subdivide, minimum 75,000 sq. ft.
Brad Gentille 216/265-2536 or Kevin Scheiferstein 216/265-2585
Global commercial real estate expertise
216-475-9255
for information.
Loading Dock Services
Service, Maintenance and Sales
of Dock Levelers, Bumpers,
Seals, Truck Restraints and
Metal Stairs. Free Inspections
and Estimates.
800-34-DOCKS / 440-729-0380
E-MAIL OR FAX US YOUR AD...
E-MAIL: DSCHWALLER@CRAIN.COM
FAX: (216) 694-4264
LUXURY PROPERTIES
9/7/06
2:25 PM
Page 1
33
REAL ESTATE
OFFICE SPACE
OFFICE/WAREHOUSE SPACE
FOR LEASE
OFFICE - RETAIL - MEDICAL - INDUSTRIAL
PRIME LOCATIONS IN:
LAKE COUNTY
400SF - 85,000SF
Euclid Office/Medical Building
26250-26300 Euclid Avenue • Euclid
Suites available from
300 to 30,000 sf
Flexible Terms and
Attractive Rates
Many Amenities
Great Access to I-90 and I-271
Rico Pietro • 216.525.1473
CRESCO real estate
BRANCH OUT
TO AKRON!
BROKERS WELCOME
440-942-8770
Caxton Building
Downtown
OWN/LEASE 27,000 S.F.
BUILDING. HIGH PROFILE,
HIGH TRAFFIC. ADJACENT
TO MAJOR FREEWAYS.
GREAT SIGNAGE. 2.5 ACRES.
100+ PARKING. OFFICES,
DOCKS, SHOWROOM.
FAVORABLE FINANCING.
NEW SPACE
513 Sq. Ft. Office
1,100 Sq. Ft. Warehouse
$137,500
Office space also available
2,100 SF to 10,000 SF
.5 Mile To I-480/Turnpike
North Ridgeville
440-327-3030
440-248-1950
$400 O FFICE S PACE
D OWNTOWN
FOR LEASE
Karen Baluch 216.905.1115
www.evbco.com
RETAIL SPACE
McFarland Corners
LAND
Adjacent to Heinens
10,930 square feet - will divide
Bainbridge
Richmond Plaza
PEPPER PIKE
888-857-2817 ext. 166
OFFICE/WAREHOUSE
I-271 & Beta Drive
* 6 MONTHS FREE *
5,840 sq. ft. with a dock & drive-in
1,800 - 6,000 Sq. Ft.
immediate occupancy or up to
32,000 Sq. Ft. build to suit
Tyler Blvd., Mentor
3,870 - 4,500 sq. ft.
CALL CAPUTO BROS.
440-461-5910
(216) 291-1411
DON’T
FORGET:
Prime Retail Space
E. 4th Street
Downtown Cleveland
Next To House of Blues
Take A Look
e4thstreet.cicerchi.com
Crain’s
Cleveland Business
on-line @
CrainsCleveland.com
216-281-1500
For all the latest business
news...online
Richmond Heights
CEDAR ROAD
TOWNHOUSE DISTRICT
2400 sf / $1100
FOR LEASE
Miner Rd.
Highland Hts.
RETAIL SPACE
Many Locations
Conference Rooms, WiFi Included,
Office Center & Kitchenette.
Secretarial Available!
*300-12,000 Sq. Ft.
*Indoor Parking
* Great Rates
Office/Warehouse for Lease
Home Ave. @ Evans
1200 sf / $600
EXCELLENT
OPPORTUNITY!
Across from
Richmond Towne Mall
2,500 square feet
Zoned five homes / acre
8.9 acres, $350,000 / acre
Information Package
CALL CAPUTO BROS.
440.442.4743
(216) 291-1411
For daily on-line
updates, sign up @
CrainsCleveland.com/Daily
LUXURY PROPERTIES
Western Reserve Land Conservancy
Let your home be your sanctuary
SMASHING DOWNTOWN TOWNHOME!
NEWBURY: Vacant Land
67-ACRE MAPLE RIDGE - This 100% wooded property is ideal to build
that log or timber frame home. Young growth woods make up the front 22
acres and mature mixed beech and maple forest makes up the remaining 45
acres. It is adjacent to the Geauga Park District's Rookery and contains dramatic rock outcroppings in the northeast corner of the property. Wild life
Price: $775,000
abounds on this sanctuary property.
Spectacular home with every imaginable upgrade! 4 level
dream townhome with one of a kind roof top deck with 360
river and city views! Extra Large 4th floor gathering room (18
x 27)! 2 story living room with floor to ceiling windows, luxurious master suite with fireplace, gourmet kitchen with granite! Tax abated! Much Much More! Downtown Glamour without high rise living! Two units available from $489,900.
PROGRESSIVE URBAN REAL ESTATE
216.375.7060
Jean Mackenzie
Western Reserve Land Conservancy
(440) 729-9621 or email - jcm@crlc.cc
Return to a more genteel age.
Fabulous French Normandy
home w/6 bedrooms, 3.5
baths and loads of fine architectural detail. Newer kitchen
and baths. $499,000
2985 Morley Rd.
Shaker Hts.
Open House, Sunday September 17 1-3 PM
Ted Theophylactos
Because this is a conservation property, the buyer may potentially realize significant tax benefits. For more information about our Conservation Buyer Program or to walk this property, please call:
Eleven beautiful acres come
w/this impeccably maintained
Cape Cod in prestigious Waite
Hill. 4 bedrooms, 2.5 baths including spacious 1st floor
master suite. $695,000
7067 South Lane
Waite Hill
Cathy LeSueur, ABR, CRS, GRI
216-999-8408
PRISTINE LAKEFRONT SPLENDOR
JUST REDUCED BY $350,000
1300 Lake Road Conneaut $2,000,000
Boston Hts.
Magnificant 7 bdrm, 7.5 bath home offers 12,500 sq ft. of superb
living space. 2.66 acres!
SECLUDED COUNTRY RETREAT
5260 Arbor Drive Kingsville Twp. $569,900
North Carolina Mountains!!
New log cabin $149,900. Easy to finsh interior.
Minutes to lakes, State Park, great golf, fishing and
more. Mountain parcels from 1 to 5 acres with spectacular views!! $39,900 to $129,900. Paved roads, utilities and easy financing.
Call 828-652-8700
Situated on 43 wooded acres, 2,700 ft. of Ashtabula River frontage.
Secluded and scenic!
SPECTACULAR HORSE PROPERTY!
4 br 3.5 bath remodeled colonial. 1st floor master suite
bath, 1.5 ac lakefront lot. $296,000.
HomesToComeHomeTo.com
John 216-319-0123 owner/agent
9305 Mentor Road Chardon $549,900
Equestrians Dream! 9.5 Acres! State of the Art 4 stall barn! 3 Pastures,
picturesque, scenic and secluded!
Contact Joseph A. Zingales of
Howard Hanna Smythe, Cramer Co.
440-346-2031
ATTENTION REALTORS:
Inquire about our special discount rates in Crain’s Cleveland Business’ Luxury Property section.
Contact Don Schwaller at 216.771.5172
Unique 1.5 AC lot with FREE GAS to
build your dream home. Woods, ravine,
cul-de-sac, water/sewer. $195,000.
HomesToComeHomeTo.com
John 216-319-0123
owner/agent
DSchwaller@Crain.com
C L A S S I F I E D
C O N T I N U E D
O N
P A G E
3 4 ➤
34
9/8/06
3:35 PM
Page 1
Sports: Networks facing off over Browns coverage
“We’re not giving up on any
season,” he said. “We’re not throwing
in the towel and saying we’ll
give them (SportsTime Ohio) the
summer. We’ve really moved on
from” losing the Indians’ TV rights,
he said.
There’s also the matter of the
Cavaliers: Where FSN Ohio will look
to ride the team’s popularity as it did
during last spring’s playoff run,
SportsTime Ohio for the moment is
stuck without coverage of its Gateway neighbors.
“We actually have called the NBA
to see if we can have (Cavaliers)
highlight rights, because a weekly
show would be great,” Mr. Liberatore said. “They don’t know if that’s
going to be available to us.”
The good news, Mr. Liberatore
noted, is that between the Browns
and Ohio State, lack of Cavs coverage shouldn’t be an issue until early
next year. He admitted, though, that
between the end of football season
and the start of spring training, it
looks like “January and February
could become tough months” for
the network.
Another wild card in SportsTime
Ohio’s deck is its master control
center, which is under construction
at partner station WKYC-TV, Channel 3, and should be completed
by the end of the year. When that
happens, the network will add six
hours to its programming block and
run from noon to midnight. Its fall
programming block currently begins
at 6 p.m.
In separate conversations, both
network leaders take casual swipes
at the other’s programming: Mr.
Liberatore pokes at FSN Ohio’s
reliance on corporate backing and
non-local shows, while Mr. Liverani
digs at SportsTime Ohio’s smallniche offerings such as the mixedmartial-arts Ohio Fight Fest and
Cleveland All-Pro Wrestling.
The NFL, though, is providing the
arena where the two networks truly
will battle head-to-head.
With all the Browns games
broadcast through CBS or Fox’s
national networks, FSN Ohio and
SportsTime Ohio are hitting the
beat everywhere except on the
playing field. Both worked the
Browns training camp angle hard.
Both will push complete coverage of coach Romeo Crennel’s
weekly press conferences, and
both will air Browns discussion
shows featuring current and former
players.
FSN Ohio also plans to air a
10-part “behind the scenes” series
on Braylon Edwards, and will adapt
its Cleveland Rants talk show — originally aimed at the post-Indians
game audience — for the football
season.
Q
CLASSIFIEDS
BUSINESS SERVICES
Datacore
EMC CX500
Clariion
Enterprise
Storage System
• Like New!
• 40U Rack Cabinet
We Do I.T.
Our mission is to
create mutually
beneficial long term
relationships based
on trust and respect.
www.Datacoreonline.com
INVESTMENT
OPPORTUNITY
BUSINESSES
FOR SALE
Restaurant for Sale
The established
Golden Anchor restaurant
and bar is located in the heart
of Conneaut, Ohio.
With over 8000 sq. ft. of
combined restaurant and
living quarters, the property
consists of a dining room,
bar/billiard room and private
banquet room. Price includes
building and attributes.
Contact Joseph A. Zingales of
Howard Hanna
Smythe, Cramer Co.
440-346-2031
EMPIRE BUSINESS ASSOCIATES
Automated Machinery Mfg.
Authorized Dealer of Professional
Dictating Systems
Industrial Tool Distributor
Fabrication Company
CNC Machine Shop
Distributor/Mfg. of Lab Equipment
Designer &Builder of Machinery
Information Technology Company
Marina Equipment Manufacturer
For additional information go to
www.empirebusinesses.com
or call 216-462-0161
SPORTS &
ENTERTAINMENT
BROWNS CLUB SEATS
NE Ohio company with large
multi-million dollar DOD contract
in need of expansion capital.
Willing to pay prime plus
5% for 18 months.
Two seats for the
2006/2007 season.
(No PSL)
45 Yard-Line
Call 440-259-5200 x 3262
• Still on shipping pallet
• $26,000
Call Bob
440-343-4308
Call 440/543-2211 or
exoticplantworks.com
Have a Service to offer?
Discount rates are now available.
Contact Don Schwaller at 216.771-5172
Crain’s Executive Recruiter
Jacobs Field Suite
(Press Level)
Individual games available.
Classified Ads
WORK!
• 16 x 2GB Fibre Switch
Let us help you to choose
healthy, attractive plants and
containers for your work
space. 24 yrs. experience
working with Cleveland
professionals.
Find additional customers in Crain’s Cleveland Business’ Business Services.
INCOME STREAM
INVESTMENT
PLEASE ASK FOR BOB
330 995-1081
• 2.6TB Storage
(146GB 10K Disks)
Here come the
office plants….
Contact Fran at
440-716-8042
or fran@colonymortgage.com
PUBLIC NOTICE
Request For Qualifications
The City of Brunswick, Ohio, is seeking Statements of Qualifications
from qualified firms for architectural, engineering and design services
for the purposes of constructing a New Brunswick Regional Advanced
Education and Professional Center located at the Town Center on
Center Road.
The City plans to retain ownership of land with a minimal lease to
Developer/Owner of building.
Qualification statement and information packets may be obtained
from Julie Murawski, Administrative Services Coordinator 330-2259144.
The proposed project is for a state-of-the-art 50,000 - 60,000 sq.ft.
3-story facility with a probable estimate of construction cost of $8 - $12
million.
Proposals must be received by 12:00 noon EST on Tuesday, October 3,
2006. Proposals will be immediately opened. No late proposals will be
accepted.
Firms shall be evaluated and selected based on their qualifications to
provide the requested services. The City reserves the right to reject any
and all proposals.
Robert A. Zienkowski
City Manager
Marketing Director
Consider joining the premier source of business news in Southeast Michigan, Crain’s Detroit Business. We are searching for a Marketing Director to lead the marketing and
promotions efforts of the leading business
publication in metro Detroit.
The Marketing Director is responsible for developing and implementing a comprehensive
marketing strategy for Crain’s Detroit Business and its growing portfolio of online and
special event products. This role is responsible for market research to help position
Crain’s Detroit Business, as well as primary responsibility for creating promotional materials
to support advertising sales. The Marketing
Director also oversees an in-house team that
produces receptions and special events tied to
themed sections in the print publication as well
as online webinars and other promotions.
The Marketing Director will also support
strategies for readership development for print
and online products.
Media/marketing experience is helpful. Experience using multiple channels to promote a
brand is a must.
If you have a strong copy writing skills and a
record of brand building, if you are familiar
with current and emerging integrated marketing and media strategies, possess excellent
project management and organizational skills
and hold a bachelor’s degree in Marketing,
Communications, Advertising or related field,
seriously consider this opportunity. You must
have at least 10 years of related experience.
B-to-B marketing experience is preferred.
This is a great time to join our organization -a profitable, well established publishing leader
-- as we embrace the digital publishing age.
Resumes with cover letters may be submitted
to detroit_jobs@ crain.com .
Crain Communications Inc is an Equal Opportunity Employer
To place your Executive Recruiter ad
Call Don Schwaller at 216-771-5172
9/8/06
4:50 PM
Page 1
35
THEINSIDER
THEWEEK
REPORTERS’ NOTEBOOK
BEHIND THE NEWS WITH CRAIN’S WRITERS
SEPTEMBER 4 - 10
Eat up, Peter …
Peter?
The big story: National City Corp. is selling
Q All three Cuyahoga County commissioners
were late to their regularly scheduled 10 a.m.
meeting last Thursday, but
they had an excuse. They were
serving pancakes on Public
Square at the United Way
Services campaign kickoff
and pancake breakfast.
Apparently, though, president Jimmy Dimora noticed
his colleagues, commissioners Tim Hagan and Peter
Lawson Jones, hadn’t had
time for their own breakfasts.
So, as the meeting was starting at about 10:20 a.m., he
produced two pancake-filled
styrofoam boxes.
“I made those myself,” the
bearded Mr. Dimora announced as Mr.
Hagan began to eat. “Hopefully, there’s no
hair in them.”
Mr. Hagan continued his breakfast. Mr.
Jones left his pancakes untouched. — Jay
Miller
sub-prime lending subsidiary First Franklin
Financial Corp. and its affiliated units to Merrill
Lynch & Co. for $1.3 billion. Merrill Lynch
also will pay
$5.6 billion
to acquire
First Franklin-originated loans valued at the same
amount from National City’s portfolio. National
City will see a pre-tax gain from the transaction of
about $1 billion, or around $1 a share after taxes.
The other big banking story: KeyCorp has
agreed to sell its McDonald Investments branch
network to UBS Financial Services Inc. in
a $280 million deal.
McDonald’s
branch
network includes about
340 financial advisers
and support staff spread
across 51 offices in 14
states. The sale involves
only McDonald Investments’ branch network. McDonald’s former
institutional businesses, including investment
banking, debt and equity capital markets, public
finance and research, will remain part of KeyBanc
Capital Markets.
A big boost:
University Hospitals’ Case
Medical Center received $5 million from The
Murdough Foundation to help the hospital’s
Department of Dermatology improve research,
treatment and education on psoriasis, a chronic
genetic disease that affects the skin and joints.
The foundation, in Hudson, is headed by Thomas
Murdough Jr., a UH board member and founder
and CEO of toy maker The Step2 Co. in Streetsboro.
Q So, Mrs. Fields is turning 30 next year, and
she’s cooking up a makeover, starting in
Cleveland.
The cookie franchise based in Salt Lake
City, Utah, has launched its redesign at its
Great Northern Mall location. Besides a more
WHAT’S NEW
STOCKS
To keep up with local business news as it happens,
visit www.crainscleveland.com.
in the Election Day process will help solve the
worker shortage at the Board of Elections that
exacerbated problems at the polls during
last May’s primary election.
It’s legal because of a little-noticed section
in a law passed by the Ohio General Assembly
in 2004. The provision helped Ohio law
conform to the Help America Vote Act
passed by Congress in 2002.
Election judges are paid $122 for work on
Election Day. County workers will attend
training on their own time. — Jay Miller
It isn’t a happy story,
but it isn’t all sad, either
Q The Federal Open Market Committee is
going to get a primer on Cleveland’s economy
when the committee meets Sept. 19.
During the “economic go-round” that is
part of each meeting, committee members
present anecdotal evidence, gathered from
daily meetings with business leaders, from
their particular regions of the country to
help the group get a sense of the nation’s
economy. It sounds as though Sandra
Pianalto, president and CEO of the Federal
Reserve Bank of Cleveland, will have a good
news/bad news tale to tell.
“Some of the companies operating internationally tell me business is strong, but if
you are located just here regionally, it’s not
as strong as we’re seeing it nationally, ” Ms.
Pianalto said during an Aug. 31 interview.
She cited a slowing housing market and rising
energy prices as reasons why Northeast
Ohio isn’t performing as well as the country
as a whole. — Shawn A. Turner
10 BEST PERFORMERS
COMPANY
Net FLX: A Case Western Reserve University
For the record: Cuyahoga Community College
broke ground on a $6 million Health Technologies Center at its Western Campus in Parma. The
28,000-square-foot building will house programs
in fields such as diagnostic medical sonography,
electroneurodiagnostics and nuclear medicine.
… Goodyear Tire & Rubber Co. plans to sell its
global tire fabric operations to South Korea’s
Hyosung Corp. for about $80 million. The 1,000employee tire fabric division includes manufacturing plants and other assets in Decatur, Ala.;
Utica, N.Y.; Americana, Brazil; and Colmar-Berg,
Luxembourg. … Eaton Corp. has bought the
Ronningen Petter industrial fine filtration
business of Tulsa-based Dover Resources for an
undisclosed sum. Eaton said the acquired
business is based in Portage, Mich., and posted
$30 million in sales last year.
As long as they don’t vote
twice, everything will be cool
QAs many as 600 Cuyahoga County employees
will be double dipping on Election Day. And
it’s legal.
Last week, county commissioners approved
a “Poll Worker Leave Program” that allows
county employees to work at the polls Nov. 7
and be paid by the county Board of Elections
as poll workers. They also will be paid their
regular county pay for that day.
The hope is that involving county employees
Mrs. Fields gets
a facelift, sans Botox
Keep on truckin’: Trucking logistics software
provider TMW Systems Inc. of Beachwood
acquired a Canadian competitor for an undisclosed sum. The acquisition of Maddocks
Systems Inc. of Vancouver, British Columbia,
enables TMW Systems to expand its product and
service lines, as well as customer base and software engineering expertise. The combined
company has more than 250 employees and sales
topping $40 million.
spinoff that makes sensors received a $400,000
investment commitment from nonprofit venture
development group JumpStart Inc. FLX Micro
Inc. of Cleveland plans to use the money to aid
in commercializing its microsensors, which are
designed to be used in harsh environments such
as automotive engines. Cleveland venture
capital firm Early Stage Partners also invested
an undisclosed amount of money into FLX
Micro.
“indulgent” look and feel, said Mrs. Fields
brand manager Lesley Snavely, the new Mrs.
Fields will expand its made-to-order menu
with a beverage line.
Ms. Snavely said Cleveland was chosen for
the redesign launch because
it’s “really a great representation of our national (consumer)
environment.” Of course, it
probably didn’t hurt that Ms.
Snavely is a native of Shelby,
and her mom lives in Vermilion.
For a couple months, the
North Olmsted store will be the
lone redesigned representative
in the 400-store Mrs. Fields
lineup, as the company gathers
feedback and readies to take
the changeover nationwide.
The Great Northern location
had a soft opening last week.
A grand opening is set for
Sept. 16. — John Booth
COMPANY: ShieldMark Inc.,
Cleveland
PRODUCT: MightyLine
ShieldMark aims to keep customers on a
straight path with MightyLine, a line of durable
peel-and-stick aisleway striping products that
the company bills as an alternative to painted
floor lines in industrial operations.
MightyLine is made of extruded PVC with a
pressure-sensitive adhesive backing. A
patent-pending system features an easy-on
applicator with an adjustable laser. The
applicator, which can be purchased or rented,
can install 1,500 feet of striping in an hour or
less.
The product is available in seven standard
colors — red, white, blue, black, yellow,
orange and green — or it can be matched to
any company’s colors with a 24-roll order. A
luminescent sister product, MightyGlow,
comes in yellow and red with various colored
lines through the center. It’s designed to
make it easier for workers to navigate a plant
in the event of a power outage.
Mighty Line and MightyGlow are produced
in 2-, 3-, 4- and 6-inch widths on 100-foot
rolls.
For information, visit www.mightyline.net.
Send new product information to
ssuttell@crain.com.
1. Penton Media Inc. (PTON)
2. Chart Industries Inc. (GTLS)
3. Goodyear Tire & Rubber Co. (GT)
4. Associated Estates Realty (AEC)
5. U-Store-It Trust (YSI)
6. DataTrak International Inc. (DATA)
7. Sherwin-Williams Co. (SHW)
8. Developers Diversified Realty (DDR)
9. Jo-Ann Stores Inc. (JAS)
10. Park-Ohio Holdings Corp. (PKOH)
CLOSE
9/8
WEEK’S
% CHANGE
52-WK
HIGH
52-WK
LOW
0.70
13.91
14.57
14.85
20.44
6.10
52.75
54.88
15.77
13.96
22.81
7.08
5.81
4.43
4.23
3.39
2.61
2.43
2.20
1.90
0.77
16.60
19.31
14.89
22.39
12.74
54.12
56.99
20.46
21.36
0.20
11.43
9.75
8.65
15.90
5.50
37.40
42.03
10.98
12.72
CLOSE
9/8
WEEK’S
% CHANGE
52-WK
HIGH
52-WK
LOW
25.55
12.14
26.24
10.95
22.03
22.59
36.34
23.32
25.41
22.61
-6.65
-5.45
-4.69
-4.03
-3.50
-3.13
-2.96
-2.91
-2.76
-2.75
39.49
15.49
28.67
16.30
31.67
43.82
55.18
28.26
32.80
28.25
15.16
9.77
14.44
10.77
20.41
19.78
31.39
21.28
15.51
20.89
CLOSE
9/8
WK’S VOL.
(in thousands)
52-WK
HIGH
52-WK
LOW
14.57
34.97
24.23
52.75
36.62
55.78
66.46
74.91
36.34
8.84
10,786
8,840
6,408
4,007
3,877
2,906
2,585
2,099
1,564
1,482
19.31
40.00
31.23
54.12
38.31
57.48
79.98
86.99
55.18
9.89
9.75
29.75
22.18
37.40
30.10
45.78
56.65
60.73
31.39
5.31
10 WEAKEST PERFORMERS
COMPANY
1. Olympic Steel Inc. (ZEUS)
2. Hawk Corp. (HWK)
3. Brush Engineered Materials (BW)
4. Keithley Instruments Inc. (KEI)
5. Applied Industrial Technologies (AIT)
6. Invacare Corp. (IVC)
7. Cleveland-Cliffs Inc. (CLF)
8. Steris Corp. (STE)
9. Lamson & Sessions Co. (LMS)
10. FirstMerit Corp. (FMER)
10 MOST ACTIVE
COMPANY
1. Goodyear Tire & Rubber Co. (GT)
2. National City Corp. (NCC)
3. Progressive Corp. (PGR)
4. Sherwin-Williams Co. (SHW)
5. KeyCorp (KEY)
6. FirstEnergy Corp. (FE)
7. Eaton Corp. (ETN)
8. Parker Hannifin Corp. (PH)
9. Cleveland-Cliffs Inc. (CLF)
10. PolyOne Corp. (POL)
Source: FinancialContent Inc.
9/8/06
11:40 AM
Page 1
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