San Diego company scoops up another downtown spot
December 04, 2016 |By STAN BULLARD |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.