Cleveland
CBRE Strengthens Cleveland Retail Team
Industry veteran Jeremy Bates will serve as vice president. Previously, he was responsible for leasing Stark Development’s retail and office portfolio.
ICP Acquires 1.4 MSF Ohio Distribution Center
Located on the outskirts of Youngstown, the asset is the fifth such facility acquired by the investor from Sears or Kmart.
Pine Tree Affiliate Buys Suburban Cleveland Retail Asset
HFF’s Clinton Mitchell and Amy Sands brokered the sale of Streetsboro Crossing shopping center, while William Barry of Draper & Kramer arranged the financing.
Cushman & Wakefield to Lease Stark Enterprises’ 2MSF Cleveland Asset
The company will lead office leasing efforts at nuCLEus, an upcoming mixed-use development in the Gateway District. The property will encompass office, residential and retail space.
OH Retail Development Receives $19M Construction Financing
The three-year, interest-only loan secured by Berkadia represents 73 percent loan-to-cost and was closed with 50 percent of the retail space pre-leased.
ICP Expands Leadership Team
Bill Kern will serve as executive vice president and Andy Hill will hold the position of senior vice president of finance. Both are experienced professionals with degrees in economic and finance.
Time Equities Buys Cleveland-Area Office Building
The company paid $7.6 million to PNC Bank—which was also a tenant in the building—in a transaction brokered by CBRE. The asset will be delivered fully vacant.
Ohio Mixed-Use Center Gets $172M Refi
The floating-rate loan for the owners of Pinecrest in a Cleveland suburb was provided by Square Mile Capital Management LLC and replaces existing construction debt.
Berkadia Finances Cleveland US Bank Center
The $33.2 million loan features a 10-year fixed rate and a 67 percent loan-to-value ratio and was secured on behalf of The Wolstein Group.