Press Release::
For Immediate Release: November 13, 2008
WYSE COMMITS TO STAY DOWNTOWN
Signs 10-year Lease as Anchor Tenant for
Historic Euclid Avenue Redevelopment Project
Cleveland, OH - Wyse, Cleveland’s largest advertising agency, and local developer K&D Group of Willoughby have struck a 10-year lease agreement as part of a $64 million renovation and redevelopment project along the Euclid Avenue Corridor.
Wyse will move its headquarters to 668 Euclid Avenue, originally the home to the William Taylor Son & Co. department store. The building is currently being redeveloped by K&D into luxury apartments and service retail locations. Wyse will be the only commercial tenant, occupying 25,000 square feet on the building’s ground floor, fronting Euclid Avenue. This site is adjacent to the East Fourth Street entertainment district and the last building between East 9th Street and Public Square to be revitalized.
“As a long-standing contributor to Cleveland’s business community, Wyse remains committed the vitality of the city. We looked at a number of sites for our new headquarters and determined that this prime, visible Euclid Avenue location was the best reflection of the energy of our company and makes a strong statement about our commitment to Cleveland. It feels appropriate that we participate in the revitalization of the downtown business district,” said Wyse President and CEO Michael Marino.
“The unique elements of the building, with its 73-foot central atrium, retail street presence and urban park, is an ideal site for a creative agency like Wyse. We are pleased to partner with such a long-standing, well-known and successful Cleveland company to anchor such an important project in the ongoing redevelopment of Euclid Avenue,” said K&D Principal Doug Price.
The historic eight-story building, constructed in 1909, will include commercial and service retail space, along with 240 luxury apartments. With the demolition of the adjacent Dollar Bank Building, the facility will provide green space with a pedestrian-friendly urban park extending from Euclid Avenue to Prospect Avenue. A 73-foot central atrium will connect the original Euclid Avenue Building to the 4-story annex building, providing natural light and a feeling of openness to residents and tenants. The terra cotta façade of the building will be restored to its original appearance and character, in accordance with historic renovation guidelines.
“This location had all the aesthetic qualities, character and amenities that we were looking for in our relocation. We wanted a location with a unique identity and fresh, contemporary feel to reflect who we are as a company. It also delivers everything our employees said they wanted — nearby amenities like parking, restaurants, entertainment and convenient access to public transportation. With this project we found everything we were looking for AND we are able to contribute to the redevelopment of the heart of the city,” Marino said.
Also central to the project were Geoff Coyle with Colliers Ospendorf-Morris, George Hutchinson, with Allegro Realty Advisors, architect Tim Mulle, Mulle & Associates and Jim Lawler, Lawler Construction. Wyse is expected to move into the new office space in August 2009.
About Wyse
Founded in Cleveland in 1951, Wyse is one of the Midwest’s largest independent agencies with full-service advertising, brand strategy, sales promotion, collateral design, direct marketing, research, interactive services and media buying resources. Wyse is agency partner to more than thirty blue-chip clients including Marathon Oil, Dirt Devil, Meineke Car Care, Cleveland Clinic, Medical Mutual, National City Bank, J.M. Smucker Company, Moen, Carrier Transicold, Kelly Services, GE Lighting, Rockwell Automation, Champion Spark Plugs and Wyndham Worldwide. For more information, visit www.wyseadvertising.com.
About K&D Group
One of northeast Ohio’s largest privately-owned real estate development firms, the K&D Group owns and manages over 13,000 residential units and employs over 400 people throughout northern Ohio. Founded 24 years ago by Karen Harrison and Doug Price, the K&D Group developed the Stonebridge residential complex on the west bank of the Flats in downtown Cleveland. The other holdings include The Embassy Suites Hotel at Reserve Square and Reserve Square Apartments.
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For further information contact:
Michael Marino, President
216.696.4001
mmarino@wyseadv.com
25 Prospect Avenue, West
Cleveland, Ohio 44115
(216) 696-2424
Fax: 216-736-4440
www.wyseadvertising.com
