Adrian Maties
Two Cincinnati-Area Retail Properties Sell; More Expected
The recovering Cincinnati economy is drawing investors to the market. Recently, two large multi-tenant assets have sold for a combined $75 million and Marcus&Millichap Real Estate Investment Services expects the sale of retail assets in the area to gain traction through the year.
D.C.’s Washington Harbour Sells to South Korean Investors
D.C.’s Washington Harbour has a new owner. Principal Real Estate Investors acquired the asset for a consortium of South Korean investors advised by Simone Investment. Holliday Fenoglio Fowler represented the seller, a joint venture between Rockpoint Group and MRP Realty, and announced the closing of the sale on July 22.
Apartment Projects Approved by Baltimore’s Urban Design and Architecture Review Panel
Baltimore will soon say hello to a new high-rise building. Developer David S. Brown Enterprises Ltd. of Owings Mills has plans for a 30-story mixed-use development on the eastern edge of the University of Maryland, Baltimore campus.
Garrison, Westmount Expand Industrial Footprint With 10-Building Deal
Garrison Investment Group has purchased 10 industrial properties located in Columbus in late June 2013. According to the Columbus Business First, the 2 million square foot portfolio traded for $23.6 million.
Troubled Apartment Building in Evanston Makes Way for New Homes
A century old building in Evanston was demolished on Wednesday, July 17, to make way for new development and help revitalize the Cincinnati neighborhood. Hundreds of people were present at the event and cheered as machines belonging to the O’Rourke Wrecking Company brought down the mammoth building. Anzora Adkins, President of the Evanston Community Council, Cincinnati City Manager Milton Dohoney Jr. and Vice Mayor Roxanne Qualls were among them.
$40M Project to Deliver First New Hotel in Downtown Akron in 40 Years
Downtown Akron is getting ready for a new hotel. Mayor Don Plusquellic, Greystone Partners LLC and Amerimar Realty Company made the announcement last Tuesday, July 16. The project will incorporate the historic Greystone Hall at Mill and High streets and will be the first new hotel construction in the city’s downtown in 40 years.
700-Unit Apartment Building to Be Largest in Pentagon City
The Arlington County Board recently approved phases four and five of the Metropolitan Park project. It calls for the redevelopment of an existing warehouse site into the single largest residential and retail high-rise in Pentagon City.
252-Unit Apartment Community Sells in Greater Baltimore
The Haven at Odenton Gateway, a Class A, garden-style multi-housing community located in Odenton, Maryland, was purchased last week by AEW Capital Management, LP, one of the world’s leading real estate investment advisors. Holliday Fenoglio Fowler (HFF) marketed the property and represented the seller, Johnson Development Associates, Inc.
Redskins Open $10M Training Center in Richmond
The Bon Secours Washington Redskins Training Center is finally open. Peter Bernard, CEO of Bon Secours Virginia Health System, Richmond Mayor Dwight Jones, Governor Bob McDonnell and legendary Redskins QB Joe Theismann spoke at the grand opening ceremony that featured performances from the Richmond Public Schools All-City Marching Band, American Idol hero Elliott Yamin and skydivers.
Agree Realty Corp. Buys Cleveland-Area Sam’s Club for $21.4M
Agree Realty Corp., a Farmington Hills, Mich.-based real estate investment trust involved in the development and acquisition of single tenant net lease retail properties, has recently purchased a triple-net leased Sam’s Club located in Brooklyn, Ohio. Marcus & Millichap Real Estate Investment Services has arranged the all-cash sale.