Weeks after a rival project in Nashville, Tennessee shut down, developers of the Cleveland Medical Mart & Convention Center made a move we’ve been awaiting for months by announcing two anchor tenants. Cuyahoga County Executive Ed FitzGerald said he was excited and a little relieved to announce GE Healthcare and Cleveland Clinic as the first […]
The rival of Cleveland’s soon-to-be medical mart is no more, at least for the time being. Dallas-based Market Center Management announced today that it was pulling the plug on the Nashville Medical Trade Center, a $250 million project to revamp the city’s existing convention center. While top leadership at MMPI, the developer of Cleveland’s $465 […]
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With construction more than 70 percent complete and opening less than a year away, Cleveland’s Medical Mart & Convention Center project should be sharing plans for its 235,000 square feet of permanent showroom space in the next few months. One question surrounding the publicly financed project has been to what extent it will draw attention […]
The good news for backers of the Cleveland Medical Mart & Convention Center is that the top local official with the project says it has secured lease agreements with 20 tenants. “We are fully completed or close to complete with 20 leases that account for about 46,000 square feet in the medical mart, which represents […]
Cleveland-area taxpayers can be forgiven if they’re a little skeptical about the outlook for the medical mart project they’ve been funding. For starters, the medical mart concept (a collection of product showrooms that feature the latest in medical technology) is unproven, and it’s never really been clear that the biggest players in the market are […]
Property developer MMPI has unveiled a virtual tour of the $465 million Cleveland Medical Mart & Convention Center. The video starts with an overview of the project’s downtown Cleveland campus, and also takes viewers through entry into the medical mart’s atrium and offers glimpses of the convention center’s exhibition hall, as well as the grand […]
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The Cleveland Medical Mart & Convention Center isn’t required to generate more hotel room nights than the city’s old, outdated convention center did as it was staggering toward death just a few years ago, per the project’s operating agreement with Cuyahoga County. Hotel room nights is an important metric for the medical mart and convention […]
Cleveland Medical Mart & Convention Center property developer MMPI must hit several minimum performance benchmarks as part of its agreement with Cuyahoga County to continue operating the facility once it opens. Those benchmarks pertain to the number of events, attendees, hotel room nights and occupancy of the medical mart, which is conceived as a collection […]
The property developer behind the Cleveland medical mart has publicly identified 36 companies it considers “top-tier” prospects to lease showroom space in the mart. The candidates were listed as part of a presentation on the project’s status by the president of the Chicago-based property developer, MMPI, to the Cuyahoga County Council. “The biggest challenge in […]
The property developer behind the Cleveland medical mart says it has secured leases with two tenants, but declined to identify them. That was the highlight of a largely uneventful business plan update presentation to the Cuyahoga County Council from Mark Falanga, president of Chicago-based MMPI, which is developing the Cleveland Medical Mart & Convention Center. […]
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A Nov. 9 meeting of the Cuyahoga County Council will give MMPI, the property developer behind Cleveland’s medical mart project, its first opportunity in several months to give a public update on the project’s business plan. It’ll also provide an opportunity for council members to subject officials with Chicago-based MMPI to some much-needed scrutiny. Confusion […]
A rendering of the Cleveland medical mart MMPI’s got some explaining to do. The Chicago-based property developer behind the Cleveland Medical Mart & Convention Center may or may not be changing its strategy on the project, and that (possibly) new strategy may or may not bring to the city the long-promised 300,000 visitors per year […]
The Nashville medical mart has a signed five-year lease with another anchor tenant, publicly traded furniture maker Steelcase (NYSE:SCS). Nurture, the healthcare-focused brand of Grand Rapids, Michigan-based Steelcase, plans to occupy up to 4,000 square feet of space in the Nashville Medical Trade Center, which is slated for a 2013 opening, according to a report […]
The Chicago-based property developer behind Cleveland’s medical mart still hasn’t signed any of its 63 prospective tenants to binding leases. However, it’s a common practice to sign prospective tenants to nonbinding letters of intent (LOIs) in the early stages of projects, various industry experts told The Plain Dealer. “I think everybody is aware that we […]
Going back to those innocent and optimistic days of 2009 when the three-city medical mart competition was just taking shape, one thing has always been clear: For any of the projects to succeed, the healthcare industry would have to buy into the untested medical mart concept. That is to say, the success of any medical […]