Pennrose announced the acquisition of the historic Warner and Swasey building in Cleveland’s MidTown neighborhood. The acquisition advances the transformation of the 194,000-square-foot former manufacturing facility, which has stood vacant since 1985, into approximately 140 residential units ranging from studios to three-bedroom apartments, along with up to 22,000 square feet of commercial space. The adaptive reuse project will preserve the elegant five-story structure originally constructed in 1905 for the Warner and Swasey company, whose legacy of engineering innovation and precision instruments helped transform the twentieth century.
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