San Diego company scoops up another downtown spot

December 6, 2016

San Diego company scoops up another downtown spot

December 04, 2016 |By  |Cleveland Business



MVP Reit Inc., a San Diego-based public company that invests in automobile parking properties, is the new owner of the Lincoln Building in downtown Cleveland after paying $7.3 million for it to a local investor group.

Lincoln is a seven-story building at 708 St. Clair Avenue that was built in 1917. The building is best known as the former home of the long-closed Pat Joyce’s Tavern downtown, a popular restaurant and bar in the 1970s.

The structure incorporates about 500 parking spaces as well as retail space on its first floor and a floor of empty offices on its top floor, according to a Nov. 18 filing by MVP with the U.S. Securities and Exchange Commission. The same filing includes the purchase price.

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Loreen M. Gilbert, CIMA, AIF, CRC, CLTC – President, WealthWise Financial Services
Blue Vault
July 6, 2016

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