Cleveland
Agree Realty Corp. Buys Cleveland-Area Sam’s Club for $21.4M
Agree Realty Corp., a Farmington Hills, Mich.-based real estate investment trust involved in the development and acquisition of single tenant net lease retail properties, has recently purchased a triple-net leased Sam’s Club located in Brooklyn, Ohio. Marcus & Millichap Real Estate Investment Services has arranged the all-cash sale.
Work Resumes on Schofield Building Conversion; Eight Northeast Ohio Projects Receive Historic Preservation Tax Credits
After a 3-year break, work is restarting on the conversion of the 14-story Schofield Building in downtown Cleveland. The $50 million project will deliver a 122-room hotel, 55 luxury apartments, a ground-floor restaurant and retail space at East Ninth Street and Euclid Avenue by late 2014.
Hackman Capital JV Acquires 16 Cleveland-Area Buildings as Part of 28-Asset Ohio Industrial Portfolio
A joint venture led by Hackman Capital Partners LLC, a privately held, asset-based investment firm headquartered in Los Angeles, has recently purchased 28 industrial buildings and two land parcels located in the state of Ohio. The transaction of the industrial real estate portfolio totaling 2,593,602 square feet closed on Friday, June 14. Hackman Capital Partners did not disclose the purchase price.
Kent State University Hotel and Conference Center Finally Open
The Kent State University Hotel and Conference Center in Kent, Ohio, officially opened its doors to the public on Friday, June 14. The project was finished on schedule and is a centerpiece of the $100 million redevelopment of downtown Kent.
Celebrity Chef Restaurant Confirmed for SKYE Rooftop
It’s official: one of Charlotte’s hottest future addresses had gotten even more desirable. The McDevitt Agency, acting as official broker of SKYE’s condominium component, as announced the identity of the much-expected rooftop restaurant: Fahrenheit
BYTEGRID Buys Massive Data Center in Downtown Cleveland, Secures $100M Credit Facility
BYTEGRID, a privately-held data center company headquartered in Northern Virginia, has acquired the Cleveland Technology Center (CTC), Cleveland’s market leader in secured telecommunications and data center facilities. The price of the transaction was not disclosed.
Akron Children’s Hospital Breaks Ground on Critical Care Tower
Akron Children’s Hospital broke ground on Thursday, May 30, on its new, seven-story, 300,000-square-foot critical care tower. Hospital leaders, elected officials, parents and children were present at the ceremony held in Perkins Square Park.
New Hilton Garden Inn Coming to Akron’s East End Development
Akron will soon say hello to a new hotel. IRG Rubber City LLC and Summit Development Inc. have signed an agreement with Hilton Worldwide to bring a new Hilton Garden Inn to the city’s East End development.
Cleveland Institute of Art to Start Work on Phase II of $63.5M Expansion
An eight-year expansion and renovation project in Cleveland is heading into the final stretch. Ground will be broken next month on the second phase of Cleveland Institute of Art’s $63.5 million project in University Circle.
NRP Group Starts Construction on 624-Bed Student Housing Community in Akron
The NRP Group, a Cleveland-based award-winning full-service developer, general contractor and property manager, announced on May 8 it will construct a 624-bed, four-story luxury student housing community in Akron.