Adrian Maties
Zirpoli/Perrine Plans $40M Mixed-Use Project on Ocean View Ave.
A new mixed-use project will bring up to 280 apartments and retail space to the city of Norfolk. On Tuesday, March 18, the City Council approved the sale of 5.737 acres of land at 719 E. Ocean View Avenue to Robert Zirpoli’s Ocean View Properties Inc. The price of the transaction was $3 million.
MARKET SNAPSHOT: Cincinnati Apartment Market Report
2013 was a good year for the Cincinnati apartment market, as the city experienced an increase in demand thanks to improving Cincinnati employment, income growth and a swelling millennial population.
City of Cleveland Selects Lakefront Developers
Cleveland’s lakefront has seen little major construction since the late 1990s. However, this is about to change. Last week, Mayor Frank G. Jackson’s Lakefront Development Advisory Committee has selected a developer for the 28 acres at the water’s edge. The project is expected to breathe new life into the area and provide an economic boost for the city.
Eagle Realty Group Hires Cassidy Turley to Lease Queen City Square in Cincinnati
Located in the heart of Cincinnati’s Central Business District, Queen City Square is the city’s premier business center, its newest and most prominent downtown development. It was constructed by Eagle Realty Group, a member of Western & Southern Financial Group, and now its owners have hired Cassidy Turley to find tenants for the remaining space in the $400 million complex.
China-Based Developer to Build Three-story Office, Data Center in Rockville
A China-based developer plans to start work this May on a new, three-story office and data center in Rockville. The Greencourt Group is the pioneer developer in the suburbs of Shanghai and has developed more than 20 million square feet of commercial and residential property in China over the last 18 years. It will construct the new property, called the Greencourt Building, at 12358 Parklawn Drive. The cost of the project was not disclosed.
Strategic Storage Trust Pays $6.7M for Hampton Self-Storage Facility
A self-storage facility located in Hampton, Va. has recently changed hands. Strategic Storage Trust, Inc. (SSTI) has paid approximately $6.7 million for the property at 1343 Big Bethel Road. It is the publicly registered non-traded REIT’s second acquisition in the area.
Woody Harrelson Buys Baltimore’s Inn at the Black Olive
Woody Harrelson – Emmy Award winner and Oscar nominee. You may know him for his work in ”Cheers”, ”White Men Can’t Jump”, ”Natural Born Killers”, ”The People vs. Larry Flynt”, ”No Country for Old Men”, ”Now You See Me” or ”The Hunger Games”. You may also know him as an environmental and anti-war activist, as PETA’s Sexiest Vegetarian in 2012, or as a supporter concerning the legalization of marijuana in the United States. What you may not know about this famous Hollywood actor is that he is now the owner of a Baltimore hotel.
Noble Investment Group Buys Four Residence Inn by Marriott Hotels in Greater Cleveland
Noble Investment Group announced last week the acquisition of four Residence Inn by Marriott hotels in the greater Cleveland metro area. The Atlanta-based company did not disclose how much it paid for the properties.
UGN to Build $50M Plant in Monroe, Create 150 Jobs
UGN Inc., a manufacturer and supplier of auto parts, has announced last week its plans to build a $50 million facility in Monroe, Ohio. Ground breaking is scheduled to start next month, depending on the final approval of state and local incentives.
PREIT to Purchase Springfield Town Center for $465M
A large, D.C. area retail property is getting ready to welcome new owners. Pennsylvania Real Estate Investment Trust (PREIT) has announced on March 3, it has entered into an agreement with Vornado Realty Trust to buy the Springfield Town Center in Springfield, Va. The price of the transaction is huge, $465 million.