History

  • Key Center 1

Richard E. Jacobs was the co-founder, Chairman, and Chief Executive Officer of The Richard E. Jacobs Group until his passing in 2009. His legacy endures with the forward continuation of his company as one of the nation’s most respected real estate organizations.

Pictured at right: Jacobs Field (now Progressive Field) – Photography rights owned by The Richard E. Jacobs Group and were taken during the period of principal ownership by Richard E. Jacobs and David H. Jacobs.

A Real Estate Pioneer
Jacobs Real Estate Services (JRES) is an affiliate company of The Richard E. Jacobs Group, which was founded in 1955, is headquartered in Cleveland, Ohio, and is considered one of the nation’s preeminent privately held commercial real estate companies.

The company began as one of the early pioneers in the development of the enclosed regional shopping center concept and developed some of the nation’s first and most successful regional malls. By the 1990’s, The Jacobs Group owned and had developed more than 50 million square feet of commercial real estate throughout the United States.

(Re)Developing Cleveland
In the 1980’s, The Jacobs Group began acquiring major office and mixed-use structures, primarily in downtown Cleveland, with the plan of redeveloping them or initiating new developments. The results eventually included The Galleria & Tower at Erieview, McDonald Investment Center, Key Tower, The Cleveland Marriott at Key Center, the restored and renovated Society for Savings Building, the Memorial Plaza and Garage, and key involvement in the development, building, and management of Jacobs Field (now Progressive Field.)

In 1986, Jacobs Group founders, the late Richard E. Jacobs and David H. Jacobs, acquired the Cleveland Indians baseball franchise and are widely credited with preventing a move of the team to another city. During Jacobs’ ownership, the Indians went from a perennial cellar-dwelling team to becoming one of Major League Baseball’s most admired and emulated organizations, winning two American League Championships and six Central Division Championships. The team’s record of 455 consecutive sellouts at Jacobs Field (now Progressive Field) remains a Major League Baseball record.

The Jacobs Group Today
Today, The Jacobs Group remains a very active developer, owner, and manager of commercial real estate. In Cleveland, the company is the managing partner of Chagrin Highlands, a major 630-acre corporate community located in Cleveland’s eastern suburbs.

JRES continues to build on the foundation established by The Jacobs Group by offering comprehensive third-party property management, brokerage, leasing, development and construction services for owners of multi-tenant and single use office, specialized-use, and mixed-use properties.