Cleveland
Jacobs Real Estate Services Sells Acreage in Avon for New Marriott Hotel
A new hotel is coming to Avon next year. Westlake-based Jacobs Real Estate Services, an independent affiliate of The Richard E. Jacobs Group, announced on Tuesday, October 1, it has agreed to sell a 4.27-acre site on Just Imagine Drive to Emerald Hospitality Associates Inc. and Nimbus Investment Fund. The price of the transaction was not disclosed.
Troubled Cleveland Shopping Center Going to Internet Auction
Retail Properties of America, one of the largest owners and operators of shopping centers in the United States, is trying to unload a five-story shopping center in University Heights, so it listed the property for sale on the Auction.com website.
Westfield Sells Two NE Ohio Malls to Starwood Capital Group
Two shopping malls in Northeast Ohio will have a new owner by the end of the year. The two properties are part of a portfolio of U.S. shopping centers The Westfield Group, a multinational company headquartered in Sydney, Australia, has agreed last week to sell to an affiliate of Starwood Capital Group, an American private investment firm headquartered in Greenwich, Connecticut.
$110M Project Could Bring 400 Apartments to Cleveland’s May Co. Building
Downtown Cleveland is a magnet for multimillion dollar developments. The newest project on the list which includes Cleveland Convention Center and Global Center for Health Innovation, the renovation of Public Square, the Flats East Bank or the Horseshoe Casino Cleveland could transform the massive May Co. building on Public Square into apartments.
CNL Healthcare Properties Buys Elyria Medical Building for $20M
The Cleveland Clinic Elyria Family Health and Surgery Center has a new owner. Orland-based CNL Healthcare Properties Inc. has acquired the property as part of a six-building portfolio for which it paid a total of $59.5 million.
Value Place Plans to Develop Six Extended-Stay Hotels in Cleveland Area
Value Place, the largest economy extended-stay lodging brand in the nation, continues its rapid expansion across the United States and has now set its sights on Cleveland’s metro area. The Wichita, Kansas-based extended-stay hotel brand already has three corporate properties in Mentor, Akron-Green, and Avon, and plans to develop six more in the area over the next two years.
Downtown Cleveland Attracts Leasing but Loses Skylight Financial Group
Skylight Financial Group will move roughly 100 workers from the Skylight Office Tower at Tower City, in downtown Cleveland, to the United Bank Building at West 25th and Lorain Avenue, in Ohio City.
Forest City Sells Cleveland’s Higbee Building to Horseshoe Casino Owners
Forest City Enterprises, Inc. finalized last week the sale of the 14-story Higbee Building, one of Cleveland’s most renowned historic places. Rock Ohio Caesars LLC is the property’s new owner. It opened the Horseshoe Casino Cleveland there last year.
Work Starts on John Marshall High, One of Three New Schools Planned for Cleveland
July 18 marked the official start of construction of the new John Marshall High School at 3952 W. 140th Street. Mayor Frank Jackson, Cleveland Metropolitan School District CEO Eric Gordon, JMHS Alumni President Ken Tischler, and Cleveland City Council President Martin J. Sweeney were among those present at the groundbreaking ceremony.
$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.