Jacobs, Hines 21-Story Office Tower Plans
The Richard E. Jacobs Group is a real estate development company which builds and leases shopping centers, offices, and hotels. After years of hard work the company has become the largest privately held shopping center company in the U.S., owning 45 million square feet of retail space in 40 regional centers. Among them are properties like Key Tower, Westgate Mall, and Triangle Town Center.
Now the Richard E. Jacobs Group in cooperation with international developer Hines plans to build a 21-story office tower on Public Square in downtown Cleveland. The tower will cost approximately $180 million and construction is planed to start next year. The opening date is set for late 2011.
The Cleveland blog quotes Douglas Miller, vice president of office operations.
“As we all know, there are a number of key players in the marketplace right now who are looking for space,” said Douglas Miller, vice president of office operations and leasing for Jacobs. “That’s probably been the prime determinant in why you’re seeing not only ours, but a number of other proposed developments at this time.”
Jacobs, a longtime real estate developer based in Westlake, has owned a one-block property at the western end of Public Square for about 20 years.
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