Cleveland
Phillips Edison-ARC Shopping Center REIT Buys 40th Grocery-Anchored Shopping Center
Phillips Edison–ARC Shopping Center REIT Inc. acquired another shopping center on April 23. The Cincinnati-based public non-traded REIT paid $7.3 million for the Hartville Center in the Greater Akron Metropolitan Area
KeyCorp Signs 15-Year Extension in Cleveland’s Key Tower
KeyCorp has extended its occupancy of approximately 487,000 square feet at the company’s namesake corporate headquarters at Key Tower in Cleveland.
Weston Offers 93,000 SF of Industrial Space for Lease in Twinsburg
The Cleveland industrial market has had a good start to 2013. This is why Weston Inc., a commercial real estate company and one of Northeast Ohio’s largest privately held industrial building owners and managers, is offering 93,000 square feet of industrial space at its new facility in Cleveland’s Southeast Submarket.
$500M Flats East Bank Development Adds Seven New Retail Tenants
Flats East Bank developers announced on Wednesday, April 10, they have secured commitments from seven new retail tenants. Space is now limited in the $500 million waterfront development as three office tenants also recently signed with the project.
Thistledown Racino to Open on April 9
More gambling is coming to the Greater Cleveland area as Ohio is getting ready to welcome its second ”racino”. Rock Ohio Caesars’ ThistleDown Racino will celebrate its grand opening on April 9, in North Randall. American Idol winner and Las Vegas headliner Taylor Hicks will kick off the festivities with exclusive concerts.
Cleveland’s Medical Mart & Convention Center Opening Early, Under Budget
Great news for the city of Cleveland. Its long-awaited$465 million Medical Mart & Convention Center will open early and under budged.
Cleveland Clinic Plans to Expand Brunswick Facility
Cleveland Clinic plans to expand its medical building at 3574 Center Road, in Brunswick. The city’s Planning Commission approved preliminary site plans on March 7. Another review will take place on April 4. The clinic will then present more detailed site plans, including renderings of the building.
Port Authority to Issue $90M in Bonds to Pay for New Cuyahoga County HQ
The Cleveland-Cuyahoga County Port Authority’s Board of Directors voted during its meeting on March 14 to sell up to $90 million in bonds to finance Cuyahoga County’s new headquarters. The project is expected to revitalize one of downtown Cleveland’s older business districts and also serve as an anchor for surrounding mixed-use redevelopment.
Beachwood Hotel Rebranded as DoubleTree by Hilton
DoubleTree by Hilton and Twin Tier Hospitality, LLC announced last week they will reopen the Hilton Cleveland East Beachwood hotel as a DoubleTree by Hilton on March 11. The rebranding marks the pinnacle of a four-year hotel renovation.
Lakewood Center North Sells for $3.4M
Lakewood Center North, the tallest office building in Cleveland’s second largest suburb, was purchased by a local investor group led by commercial real estate broker and investor Brad Kowit. According to Cuyahoga County records, the price of the transaction was $3.4 million.