Cleveland.com | By Michelle Jarboe, The Plain Dealer
CLEVELAND, Ohio – Forest City Realty Trust, Inc., bought a former steel-mill site along the Cuyahoga River in 1988 with visions of building a mixed-use project there. Almost 30 years later, that land, across the water from Terminal Tower on Scranton Peninsula, still lies vacant.
Now the publicly traded company is letting it go.
Forest City has agreed to sell its 25-acre slice of the peninsula for an undisclosed price, in a deal that could close in August or September. The buyer is an investor group led by Akron native Matthew Weiner, an attorney now based in Savannah, Georgia; Jesse Grant, a Cleveland transplant from Portland; and Fred Geis, one of the city’s most active developers.
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