Business Facilities - February 2009 - (Page 9)

the company is making a “significant” investment into the property, above the loan amount, but did not provide a figure. “The decision to place our Ohio headquarters in the city solidifies our commitment to the region and Cleveland, which is one of the nation’s largest major urban centers,” Hanna says. “Before we entered the Ohio market in Downtown Cleveland – Warehouse district 2003, we were impressed by the vitality of Cleveland as a world-class city that offers outstanding quality of life and has an unlimited potential for business growth. That impression is not only lasting, it is deepened.” Howard Hanna Real Estate Services, with corporate headquarters in Pittsburgh, PA, is the fifth-largest full service real estate company and the third-largest privately held real estate firm in the United States. In a period of nearly six years, the company has acquired eight other real estate brokerages and expanded services to include insurance, mortgage options, title and escrow. It is estimated that the brokerage’s move will generate more than $1 million annually for the local economy. Howard Hanna says it expects downtown to grow in the next decade, with a resurgence of high-density, mixed used-urban developments. Hyland Soft ware Prepares f or Expansion of Hyland Software Inc. has purchased 17 acresOH.Nordson Corporation’s neighboring 25-acre campus in Westlake, The $7.5-million sale closed on December 30, 2008 and included the procurement of Nordson’s headquarters building on Clemens Road. Founded in 1954, Nordson, one of the world’s leading producers of precision dispensing equipment for adhesives, sealants and coatings, was left with too much room in Westlake after moving its laboratories to other locations. While Nordson plans to keep five acres and the second floor of the 68,000-square-foot building, pending relocation of its headquarters, Hyland is likely to purchase the other 3.25 acres of the property in order to support expansion plans. Budgeted to hire 145 people in 2009, Hyland’s workforce grew by nearly 30% last year, reaching 851 employees and surpassing the company’s projections. More than 700 of those employees work at the Westlake headquarters, a 16-acre campus with a 138,000-square -foot building. Established in 1991, Hyland Software is northeast Ohio’s largest software company. Developer of the OnBase enterprise content management suite, Hyland provides organizations with tools for paperless operation. Hyland Software Inc. will keep its current headquarters and progressively fill in the Nordson building. Hyland estimated that the two buildings could hold 1,200 employees and said it “could probably get about 3,000 people in Westlake if [it builds] out the whole property.” “We’re growing rapidly, as you can see in the head count [of our employment levels],” says Chris Hyland, the company’s chief financial officer. ExUrban Ohio. The best of both worlds. For more information, contact the ExUrban Experts at 1-800-282-6962 or www.buckeyepower.com/natl BUCKEYE POWER PHOTO CREDIT: WIKIPEDIA #2410 at www.BusinessFacilities.com BUSINESS FACILITIES 9 http://www.buckeyepower.com/natl http://www.buckeyepower.com/natl http://www.BusinessFacilities.com

Table of Contents Feed for the Digital Edition of Business Facilities - February 2009

Business Facilities - February 2009 Contents First Word Snapshots Corporate Moves: Ohio Governor's Report Growth Magnets Industry Focus: Automotive International Report: Luxembourg Corporate Moves: Tennessee Cream of the Crop in North Carolina Advertiser Index Ask the Expert

Business Facilities - February 2009

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.