Adrian Maties
U Square @ the Loop Finally Open
U Square @ the Loop, the largest local project besides The Banks to break ground since the recession, is finally finished. The $78 million development opened on Thursday, August 22. UC President Santa Ono, Vice Mayor Roxanne Qualls, CHCURC Director Matt Bourgeois, Uptown Consortium CEO Beth Robinson, Al. Neyer Executive Vice President Jim Neyer and many others were present at the ribbon cutting ceremony.
Interpark Holdings Buys 300 East Pratt Street in Baltimore
Cushman & Wakefield of Maryland Inc. recently arranged the sale of 300 East Pratt Street, a fully automated surface parking lot located in the heart of the Baltimore Central Business District. The price of the transaction was not disclosed.
Robust Suburbs Help Make Capital the Nation’s Tightest Office Market
The National Association of Realtors recently reported that the Washington, D.C. area currently has the lowest office vacancy rate in the nation. With a vacancy rate of 9.7%, Washington D.C. is just under New York City, with a 9.8% vacancy rate, Little Rock, Arkansas, 12.1%, and Birmingham, Alabama, 12.4%. Washington Property Company, a full-service commercial real estate company based in Bethesda, played its part in lowering the area’s office vacancy rate.
Pizzuti Cos., Starwood Hotels Break Ground on 135-Key Le Meridien in Short North District
By Adrian Maties, Associate Editor Officials broke ground Aug. 22 on Le Meridien Columbus, The Joseph, a 135-key hotel in Columbus’ Short North Art District. Developed by Pizzuti Cos. and Starwood Hotels & Resorts Worldwide, the property will be owned by Pizzuti and operated by Wischermann Partners. Mayor Michael Coleman, Pizzuti Cos. chairman Ron Pizzuti […]
Value Place Plans to Develop Six Extended-Stay Hotels in Cleveland Area
Value Place, the largest economy extended-stay lodging brand in the nation, continues its rapid expansion across the United States and has now set its sights on Cleveland’s metro area. The Wichita, Kansas-based extended-stay hotel brand already has three corporate properties in Mentor, Akron-Green, and Avon, and plans to develop six more in the area over the next two years.
University of Cincinnati’s Morgens Hall Open for Students Following $35M Renovation
The University of Cincinnati recently announced it is preparing for another all-time record enrollment. The 194-year old university expects 43,000 students to attend classes this year and, in order to welcome them, it unveiled its $35 million renovation of Morgens Hall on August 15.
Panda Power Funds Plans to Build 859 MW Power Plant in Maryland
Panda Power Funds, a private equity firm headquartered in Dallas, plans to build, own and operate an 859-megawatt combined-cycle power plant in an industrial area of Brandywine, Maryland. Called Panda Mattawoman, the natural gas-fueled plant is expected to be one of the cleanest and most efficient in the nation.
Susquehanna Bank Signs Lease at 11155 Dolfield Boulevard
Pennsylvania-based Susquehanna Bank, the 37th largest commercial bank in the United States, plans to relocate its mortgage division from Hunt Valley to Owings Mills this month. It recently signed a lease for 12,750 square feet of space at 11155 Dolfield Boulevard. The lease increases the overall occupancy of the building owned by St. John Properties, Inc. to 95%.
Cole Pays $81M for New Amazon Facility in Chesterfield County
Amazon’s massive Chesterfield County fulfillment center opened last October, bringing over 1,000 jobs to the area. Now, after just 10 months of activity, it was acquired by an affiliate of Cole Real Estate Investments.
Downtown Cleveland Attracts Leasing but Loses Skylight Financial Group
Skylight Financial Group will move roughly 100 workers from the Skylight Office Tower at Tower City, in downtown Cleveland, to the United Bank Building at West 25th and Lorain Avenue, in Ohio City.