Lombardo to give up 3 buildings: lenders to get Genesis, 2 others in Rockside area. (real estate developer Carl Lombardo)

Crain's Cleveland Business | August 24, 1992| | Copyright

Carl Lombardo, the developer considered the pioneer of the Rockside Road office corridor in Independence and Seven Hills, intends to hand over the ownership of three office buildings there to his lenders.

"We're simply giving up the buildings," Mr. Lombardo said. "We're taking advantage of this to clean up our balance sheet and wipe a lot of debt off the books. We've found it rough sledding here and want to lighten the load."

The structures Mr. Lombardo is giving up include his newest venture, the six-story Genesis office building in Seven Hills. The other two ...

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