University Hospitals to Buy Highland Hills’ One Harvard Crossing for $12M, Relocate 600 Employees
- Sep 21, 2014
By Adrian Maties, Associate Editor
University Hospitals is moving to a new location. The hospital system recently announced its plans to buy the One Harvard Crossing office building, in Highland Hills, and move 600 of its administrative employees to the East Side suburb.
UH said it will pay $12 million for the facility, located on the corner of Harvard and Northfield roads. The deal is expected to close on Sept. 30. According to The Cleveland Plain Dealer, UH plans to start renovations at One Harvard Crossing in October. It will start to move the first employees to the new location in January, and by March it expects to finish most of the relocations.
One Harvard Crossing is a 130,000-square-foot building located at 20800 Harvard Road. It was constructed in 1999 and sits on 31 acres of land. According to real estate website PropertyShark.com, the total market value of the property is set at $6.9 million. The almost vacant One Harvard Crossing last changed hands in 2013, as part of the Gotham King portfolio, which included nine office buildings that slipped into foreclosure in 2012. Lone Star Funds, a Texas-based investment group, took over the East Side properties.
The acquisition of One Harvard Crossing is part of UH’s consolidation plans, designed to accommodate its recent growth and bring under the same roof its teams of non-clinical employees (administrative, human resources, legal, etc.), currently located in other facilities throughout the Cleveland area. This is not the first time the healthcare provider bought a large building outside its campus in order to relocate staff. In 2006, it acquired the former OfficeMax headquarters in Shaker Heights. The facility is now called the UH Management Services Center. It currently houses several of the hospital system’s departments, including legal and human resources.
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