CLEVELAND, Ohio - Jack Entertainment has bought the May Co. garage at Public Square, providing an additional 670 parking spaces for Jack Cleveland Casino patrons. The garage also will serve the future mixed-use development of the former May Co.and more »
CLEVELAND, Ohio - Jack Entertainment has bought the May Co. garage at Public Square, providing an additional 670 parking spaces for Jack Cleveland Casino patrons.
The garage also will serve the future mixed-use development of the former May Co. department store, which was purchased at the end of August by a new Ohio company affiliated with Bedrock, another of Dan Gilbert's Detroit companies.
There is no timetable for that building's development, which will include retail, residential, parking and potentially office space, Bedrock Senior Communications Manager Gabrielle Poshadlo said in an email on Wednesday.
The former store and an eight-story building next to the garage on Ontario Street, bought for $11.6 million by a new Ohio company, Haddas Windowpane LLC, comprise nearly one million square feet of real estate.
Poshadlo did not know why Bedrock created the Haddas company.
The casino owns a 1,200-space garage at Gateway. The 10-story May Co. garage at the corner of Ontario Street and Prospect Avenue is across the street from the casino in the former Higbee department store.
"As this location (Public Square) becomes more vibrant and the demand for parking increases, the ownership of the garage will allow us to expand the entertainment and hospitality amenities and provide convenient parking for the guests immediately adjacent to the casino," Mark Tricano, senior vice president of regional operations for Jack Entertainment, said Wednesday.
The casino's current garage is on Ontario Street south of Prospect Avenue. It is attached to the casino by an enclosed overhead walkway.
Tricano said it is difficult for patrons to find a spot when Quicken Loans Arena hosts basketball games and other events and the Cleveland Indians are playing at Progressive Field.
"We need the additional capacity when demand downtown is high," he said.
The garage was purchased from Rainbow Garage LLC, which Tricano said is owned by Florida investor Robert Danial. He would not disclose the purchase price and the property transfer is not yet public.
The garage includes 14,500 square feet of retail space on the ground floor, which is currently leased by Edible Arrangements, Mr. Hero, the Tilted Kilt Pub and Eatery and Ontario Street Cafe. Tricano said those leases will be honored.
The ground floor of the former May Co. department store includes the Taco Bell Cantina and the Cuyahoga Community College Hospitality Management Center and Pura Vida restaurant.
The garage needs a lot of improvements, which could take 12 to 18 months to complete, Tricano said. During that time some areas may be closed.
Jack Entertainment will honor current monthly passes to park in the garage, Tricano said. The current casino garage does not offer monthly parking and it is not known if it will remain at the May Co. garage.
Tricano said he also could not speculate if another overhead walkway would be sought from the garage to the casino.
"We really need to understand and put our plans in place and evaluate it," he said.
Tricano said Gilbert's "family of companies have invested more than $1.6 billion in the Cleveland area and own more than 5.5 million square feet of real estate."
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