GE Current’s agreement to move to former Aleris building finalized | Real Estate

GE Current, a Daintree company, announced March 31 that the agreement to move its East Cleveland offices to Beachwood has been finalized.

The company, which is an advanced lighting and controls manufacturer, will be at 25825 Science Park Drive in the former Aleris International building, which closed in 2020 after the company was purchased by Novelis Inc. of Atlanta. The company also recently acquired Hubbell’s C&I Lighting business in October 2021, opened two distribution centers and a new multi-million dollar training facility at its intelligent factory in Henderson, N.C., according to a news release from GE Current. The $250 million deal for C&I Lighting completed on Feb. 1.

“We are excited for Current to join the many other corporations positioned well in Beachwood,” Beachwood Mayor Justin Berns said in the release. “It is a point of pride for us to lay claim to having an international leader in lighting and controls within our borders. Current carries the legacy of one of the world’s most recognized business names and has a reputation as a leader in the lighting and controls industry. We welcome all of its employees and hope they take advantage of the ample amenities our community has to offer.”

The company expects the move to be completed by this spring.

“Beachwood is the perfect location for this next chapter at Current, with a continued focus on serving our customers,” Manish Bhandari, CEO of GE Current, said in the release. “The move from historic Nela Park is not one we take lightly, but the time is right to transition our space to accommodate our new work practices.

On Aug. 30, 2021, Beachwood City Council approved a job creation incentive grant and other incentives for GE Current. At that point, GE Current planned to move to 23550 Commerce Park. In exchange for the move, council members unanimously passed a package of three incentives, which included a job creation incentive grant for 10 years, a $500,000 job creation occupancy grant and a rebate of certain permitting fees in connection with job creation.

According to the release, GE Current chose Beachwood because of its central location, aiming to reduce commutes for its employees and the associated impact on environment. Employees will also be able to take advantage of Beachwood’s access to restaurants, shops, health and wellness centers. The release also said remaining in the Greater Cleveland area was important to the company as it “believes the talent and resources in the area allow Current to continue to grow and innovate.”

““Our new office will be designed to enable creativity and teaming, ensuring natural light, access to fresh air and healthy movement,” Courtney Abraham, chief people officer at GE Current, said in the release. “We will have the benefit of outdoor space, which improves employee concentration and focus. Our goal is to create a collaborative center that balances the need for quiet workspace, community building and moments of inspiration.”