Cleveland
Akron-Canton Airport Plans Two New Projects
The Akron-Canton Airport (CAK) plans to start work this summer on two new construction projects. At a total cost of more than $14 million, the two are part of the airport’s CAK2018 plan, a 10-year, $110 million improvement program.
Inland, PGGM JV Buys Cedar Center North for $15.4M
The joint venture between Inland Real Estate Corporation and Dutch pension fund administrator PGGM continues to add more retail properties to its portfolio. Its most recent acquisition is a shopping center located in the east Cleveland suburb of South Euclid.
Asset Plus Buys Historic Heritage Hall for $4.5M
Out-of-state investors have scooped up another historic building in Cleveland. Houston-based Asset Plus Companies, Inc., the largest privately-owned student-housing company in the nation, has recently acquired the century-old Heritage Hall building at 2200 Prospect Avenue, in the city’s downtown. The price of the transaction was $4.5 million.
K&D Group Buys Another Cleveland Landmark
Another downtown Cleveland office building has recently changed hands. But, in spite of the office-to-residential-conversion trend currently present in the Cleveland area, this one won’t be redeveloped into apartments.
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.
Boston-Based Investor Buys 50-Unit Apartment Complex in Cleveland Heights
Noble Summit Apartment Properties LLC is the new owner of the apartment complex at 2734 Noble Road in Cleveland Heights. The Boston-based company paid $1,330,000 or $26,600 per unit, to purchase the multi-family property in a transaction which closed earlier this year.
Two Northeast Ohio Hotels Ready to Receive Guests
Visitors to the Northeast Ohio area now have two more hotels to choose from. The new Hyatt Place Canton and the newly renovated Residence Inn by Marriott Cleveland Independence offer together more than 220 rooms.
Duke Sells Last Six Northeast Ohio Office Buildings for $20M
Duke Realty Corp. is leaving the Northeast Ohio commercial real estate market. The Indianapolis-based REIT has recently sold its last six office buildings in the area.
Ray Fogg to Build 127 KSF of Industrial in Euclid
Ray Fogg Corporate Properties, LLC plans to expand in Euclid. The Brooklyn Heights-based real estate developer said at the end of February that it will start work Bluestone Business Center II ”as soon as the weather breaks.”
$9M Boathouse Project to Transform Downtown Industrial Area
A Downtown Cleveland industrial area is about to be transformed into a place for walking, biking and boating. Mike Trebilcock, CEO of MCPc, Inc., his wife, Gina, and MCPc Family Charities, a non-profit associated with MCPc, Inc., have recently acquired a dozen industrial buildings in Cleveland’s Columbus Peninsula. They plan to turn the properties into a shared-use park, fitness center, and collegiate and youth boathouse.