Adrian Maties
Baltimore Ravens to Invest $35M in Upgrades to the M&T Bank Stadium
NFL champions the Baltimore Ravens aren’t taking it easy after defeating the San Francisco 49ers in Super Bowl XLVII. The team announced last Thursday it plans to invest $35 million to upgrade M&T Bank Stadium and enhance the fan experience.
Redskins Moving to $10M Richmond Training Center in July
The Washington Redskins will change their summer training camp this year. The NFL team will move from Ashburn to a new, state-of-the-art facility in Richmond.
Eaton Corp., Fairmount Minerals On the Move in Greater Cleveland
Two companies in the Cleveland area are changing their current headquarters. Diversified industrial manufacturer Eaton Corp. and Fairmount Minerals, a privately held mining company, are both moving to bigger locations.
Ryan Homes Launches Two New Model Homes in Cincinnati Communities
NVR, Inc. (NYSE: NVR), one of the nation’s largest homebuilding and mortgage banking companies, has recently announced the grand opening of two new model homes at two of its communities in the Cincinnati area. Both communities have been developed by NVR’s Ryan Homes division.
Rock Creek Property Group Buys Properties Gospel Rescue Ministries-Owned Buildings, Plans Redevelopment
Rock Creek Property Group, a commercial real estate investment company founded in 2002, has announced on February 12 the acquisition of two adjacent buildings in the heart of Washington, DC’s Gallery Place/Chinatown neighborhood.
The Howard Hughes Corporation, Kettler and Orchard Development Corporation Break Ground on $100 Million Metropolitan Downtown Columbia
Shovels broke ground on Monday, February 11, as work started on The Metropolitan Downtown Columbia, a $100 million mixed-use project in downtown Columbia’s Warfield neighborhood. Developers and county officials attended the ceremony.
Market Uptick Prompts Plans to Build 2 Hotels on Olentangy Rd.
Hotel occupancy in the Midwest continues to recover from the low levels of the recession. In Ohio it rose to 56.5 percent, according to Marcus&Millichap. The increase is a result of a decline in available rooms.
Fairlawn Town Centre Sells to Phillips Edison–ARC
Phillips Edison–ARC Shopping Center REIT Inc., a Cincinnati-based public non-traded REIT, has announced on February 4 the purchase of Fairlawn Town Centre, a 447,037 square foot community shopping center located in Fairlawn, Ohio. The acquisition brings Phillips Edison’s total portfolio to 33 properties with 13 leading grocers, in 15 states. The aggregate purchase price is approximately $409.7 million.
Anderson Birkla Buys 580 Building in Downtown Cincinnati, Plans Apartments
With downtown Cincinnati’s apartment vacancy rate far below office space vacancies, some investors are purchasing office buildings and converting them into apartments. One such investor is Indianapolis-based Anderson Birkla Investment Partners. It acquired the 580 Building on February 5 for $13.7 million. The company now intends to redevelop the property into a mix of residential, office and entertainment space.
Developers Break Ground on 310-Unit Apartment Project in Silver Spring
Insight Property Group LLC of Arlington, VA, and Chevy Chase-based Nova-Habitat LLC held a ceremony on February 5 to celebrate the groundbreaking of Fenwick Station, a six-story, 310-unit apartment development in downtown Silver Spring. Neighborhood leaders and Montgomery County officials were also present at the event. The new development is located two blocks from the Silver Spring Metro Station, on the site of the former U.S. Post Office distribution facility at 8616 Second Avenue. Fenwick Station will deliver a mix of studios, one and two-bedroom apartments. Thirty-nine apartments will be affordable units.