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K&D Group Acquires Hanna Building Annex

K&D Group Acquires Hanna Building Annex

By Adrian Maties, Associate Editor The PlayhouseSquare Foundation has struck a deal to sell the Hanna Building Annex on East 14th Street for an undisclosed price to K&D Group of Willoughby. K&D plans to acquire the downtown property on April 1. [...]…

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Construction Manager Selected for Schools in Elyria; Work Begins on Courtyard by Marriott

Construction Manager Selected for Schools in Elyria; Work Begins on Courtyard by Marriott

By Adrian Maties, Associate Editor The Ohio School Facilities Commission and Elyria City Schools on Dec. 21 selected the Gilbane Building Co. to provide construction management services for a project that will provide modern buildings for more than 3,200 students in the [...]…

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Rock Ohio Caesars Buys Ritz-Carlton, Office Tower

Rock Ohio Caesars Buys Ritz-Carlton, Office Tower

By Adrian Maties, Associate Editor On Friday, Dec. 9, Rock Ohio Caesars L.L.C., the developers of Cleveland’s first casino, announced plans to expand its presence in downtown Cleveland with the purchase of the Ritz-Carlton hotel for $36.5 million. Rock Ohio Caesars [...]…

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Skyline Scoops Up Cleveland’s Historic Arcade Building

Skyline Scoops Up Cleveland’s Historic Arcade Building

By Adrian Maties, Associate Editor Skyline International Development Inc., a Canadian hotel and resort company, was the lone bidder last week for downtown Cleveland’s historic Arcade building. It will buy the landmark property for just under $7.7 million, the minimum bid [...]…

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30,000 Homes Await Demolition in NE Ohio

30,000 Homes Await Demolition in NE Ohio

By Adrian Maties, Associate Editor Vacant homes in northeast Ohio have led to a dramatic drop in regional property values. Foreclosures, irresponsible banks, investment firms and individuals who abandoned their distressed properties have all played important roles in creating a problem [...]…

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Cleveland Proposes $2B Lakefront Development

Cleveland Proposes $2B Lakefront Development

By Adrian Maties, Associate Editor On Monday, Nov. 14, Mayor Frank Jackson unveiled plans for a development on Cleveland’s waterfront. It covers 90 acres, stretching east from the Port of Cleveland’s cargo docks past Cleveland Browns Stadium and the East 9th [...]…

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Cleveland State University Breaks Ground on $50M Project

Cleveland State University Breaks Ground on $50M Project

By Adrian Maties, Associate Editor Cleveland State University broke ground on Nov. 9 on a $50 million mixed-use project, the city’s largest residential development in more than 30 years. Polaris Real Estate Equities and Buckingham Cos. are co-developers. The groundbreaking ceremony was [...]…

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BentleyForbes Puts $98M Ohio Portfolio up for Sale

BentleyForbes Puts $98M Ohio Portfolio up for Sale

By Adrian Maties, Associate Editor BentleyForbes, a real estate investment firm based in California, has put three Ohio office buildings up for sale, all leased to Medical Mutual, Ohio’s oldest and largest health insurer. The properties are listed at $98 million [...]…

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KUD Joins UPA for 50-Block Urban Project in Ohio

KUD Joins UPA for 50-Block Urban Project in Ohio

By Adrian Maties, Associate Editor Last month, the University Park Alliance, a non-profit community development corporation, signed a master services agreement with internationally recognized real estate developer KUD International L.L.C. that will move forward significant change for the city’s downtown area. UPA, [...]…

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Uptown Project Attracts Retail, Restaurants to University Circle

Uptown Project Attracts Retail, Restaurants to University Circle

By Adrian Maties, Associate Editor Though months from opening, the Uptown Project in Cleveland’s University Circle is fast running out of retail room. Already, 95 percent of the ground-floor space in two apartment buildings has been filled by local and national [...]…

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JV Plans $64M Makeover of Cleveland’s Crowne Plaza

JV Plans $64M Makeover of Cleveland’s Crowne Plaza

By Adrian Maties, Associate Editor Optima Ventures and Sage Hospitality partnered to buy downtown Cleveland’s second-largest hotel, The Crowne Plaza Cleveland City Center. The joint venture paid $9 million cash for the 472-room hotel and parking garage, and plans to invest [...]…

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Foreign Investors to Help Build New American Greetings HQ

Foreign Investors to Help Build New American Greetings HQ

By Adrian Maties, Associate Editor American Greetings Corp. has struck a deal with the Cleveland International Fund to finance its planned new world headquarters. Announced in May, the facility, to be constructed in Crocker Park, will house more than 1,000 jobs and [...]…

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