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5/17/2013
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$2.00/MAY 20 - 26, 2013
Door opens for Southgate sale Shopping center could change ownership this summer By STAN BULLARD sbullard@crain.com
Southgate USA, a massive, lender-owned shopping center in Maple Heights, appears to be in line for new ownership.
According to the Fitch credit rating service, the company overseeing Southgate on behalf of the mortgage holder is in negotiations with a potential buyer and is “moving forward with a sale contract.” Fitch made that revelation while
affirming its current rating on a portion of a securitized mortgage tied to the property. Fitch did not identify Southgate by name, though its report on the prospective sale referred to a 795,000-square-foot retail center in
Maple Heights that was foreclosed upon in October 2011. The Southgate foreclosure occurred to satisfy the remaining $12 million of a $22 million mortgage that had been sold to investors as part of a larger pool of loans, according to Cuyahoga County land and court records. See SOUTHGATE Page 9
STAN BULLARD
Southgate USA in Maple Heights could be sold this summer.
Geis says it will rise to tall task Developer will erect county headquarters as it’s working on two other East 9th projects By STAN BULLARD sbullard@crain.com
HEATHER CAMPBELL
Cleveland Heights seniors Michael Wilson, left, and Gabriel Wojnarowski are enrolled in the school district’s engineering technology program.
MANUFACTURING INTEREST EARLY 20
Companies are drumming up attention in field with area high school students
By RACHEL ABBEY McCAFFERTY rmccafferty@crain.com
H
igh schools and manufacturing are starting to mix again. Just ask Michael Wilson and Gabriel Wojnarowski, seniors at Cleveland Heights High School. See MANUFACTURING Page 11
As crews recently demolished two old, midrise buildings at the Ameritrust complex in downtown Cleveland, onlookers often stopped to watch the show at East Ninth Street and Prospect Avenue. As developer Geis Cos. soon starts erecting the eight-story Cuyahoga County headquarters there, the show will go on. However, Geis isn’t stopping with the county building. Under an ambitious construction schedule, Geis also will embark on redeveloping the 29-story Ameritrust Tower and an attached, 13-story building at 1010 Euclid Ave. in a project it mysteriously calls, “The M on 9th.” See GEIS Page 6
INSIDE The bar is raised Jonathan Leiken, right, is bringing a new attitude to the Cleveland Metropolitan Bar Association. The Jones Day partner and bar president is 41. PAGE 3
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SPECIAL SECTION
HEALTH CARE HEROES We highlight those working to improve the lives and health of the region. ■ Pages H-1 to H-15 PLUS: JUDGES ■ PAST WINNERS ■ & MORE
Entire contents © 2013 by Crain Communications Inc. Vol. 34, No. 20