Industrial Realty Group (IRG), one of the largest owners of commercial and industrial properties in the US, has purchased the IX Centre Corporation, which operates Cleveland’s 2.2 million square foot facility known as the International Exposition Centre or the “I-X Centre.”
“The I-X Centre has been on our radar for years,” said Stuart Lichter, President of IRG. “It has 159 acres full of potential and a versatile 2.2 million square foot building. We’re preparing a creative, robust plan for the surrounding development, while simultaneously reopening the existing I-X Centre for convention and trade show use this year.”
The developers will immediately prepare the Main Hall for events, with promoters to market trade show events such as Auto, Home & Garden, Recreational Vehicles, I-X Christmas Connection and I-X Piston Powered Auto-Rama Show.
“These trade shows have significant impact on the region’s economy,” said Lichter. “We are delighted to facilitate these events on site once again.”
In addition, the team will work toward a comprehensive redevelopment plan to expand the development on the land surrounding the I-X Centre. The site has features which are attractive to many tenants. It is west of downtown Cleveland and adjacent to Cleveland Hopkins International Airport with access to I-71.
The team is confident in their formula which converted Goodyear’s former world headquarters in Akron into a successful mixed-use hub with a thriving event centre, theatre, and athletic facilities.
Since opening in 1985, the I-X Centre has been providing Cleveland with many great trade shows and events. Park Corporation has owned the I-X Centre Corporation stock since that time. As the I-X Center Corporation is being sold to a new team, Park Corporation believes that they will usher in a new chapter for the property and provide the Greater Cleveland community the highest level of service and entertainment for years to come.