Adrian Maties
Brotherhood of Locomotive Engineers and Trainmen Buys New HQ Building in Independence
The National Division of the Brotherhood of Locomotive Engineers and Trainmen, the oldest labor union in North America, is moving its headquarters out of Downtown Cleveland, after almost a century and a half in the area. Its new HQ will be located in Independence.
Executive Insight: Brian Kelley, Investcorp
Investcorp, a Bahrain-listed alternative investment fund, has recently expanded its U.S. residential portfolio with the acquisition of four properties in the metropolitan areas of Washington, D.C., Orlando, San Diego and Baltimore. The purchase price was approximately $300 million.
Christ Hospital’s $50M Outpatient Center Nears Opening in Montgomery
Christ Hospital is expanding in Greater Cincinnati. The health network will open a new outpatient center in Montgomery next month.
P&G Plans $300M Expansion in Mason
Procter & Gamble plans to expand its 1.5 million-square-foot Mason campus. The Cincinnati-based company said this month that it intends to spend $300 million to build a massive research and development center at 8700 Mason-Montgomery Road.
Verst Logistics Signs Northern Ky.’s Largest Industrial Lease of 2015
Verst Group Logistics is expanding in Northern Kentucky. The company has recently signed a lease with RT Hebron, LLC, and will occupy the entire 189,400-square-foot building at 1985 International Way, in Hebron.
Martin-Brower Co. To Build $16M Food Distribution Facility In Walker
The Martin-Brower Company, a division of Reyes Holdings, is expanding in Louisiana. Last week, the company announced that it plans to build a $16 million food distribution facility in Walker. The project will retain 160 existing jobs and will create more than 50 direct and indirect jobs.
Market Snapshot: Cleveland Retail Recovered
The Cleveland retail market has stabilized.
$114M Navy Federal Expansion to Bring 600 Jobs to Fairfax County
Governor Terry McAuliffe announced last week that Navy Federal Credit Union, one of the largest credit unions in the world, with more than 5 million members, will expand its headquarters campus in Fairfax County. The expansion project will cost $114.6 million and will result in the creation of 600 new jobs.
First Potomac Realty Trust Sells Richmond Portfolio For $60M
First Potomac Realty Trust is leaving the Richmond area. In a transaction which closed last week, the Maryland-based REIT sold its remaining properties in the region. Although First Potomac did not reveal the name of the buyer, it did say that the portfolio changed hands for a total of $60.3 million.
Great Expectations for Urban Infill Locations
Castle Lanterra Properties is attracted to certain areas in the Greater Baltimore region, which the company believes are poised for growth over the coming years.