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HeartLab Signs New Lease in Midtown’s Health-Tech Corridor

HeartLab Signs New Lease in Midtown’s Health-Tech Corridor

By Adrian Maties, Associate Editor HeartLab, a leading specialty clinical laboratory and disease management company, has signed a 10-year lease for 27,000 square feet at the MidTown Tech Park. The new building, located in Cleveland’s emerging Health-Tech Corridor, was constructed to attract [...]…

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Cleveland’s Historic Arcade Fails to Attract Bidders

Cleveland’s Historic Arcade Fails to Attract Bidders

By Adrian Maties, Associate Editor The historic Arcade building in downtown Cleveland hit the auction block last week, after a two-year foreclosure process. Despite the property’s $7.7 million price tag, it failed to attract a single bid. The landmark property includes a 293-room [...]…

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Cuyahoga County Land Bank Rebuilds Neighborhoods, Thanks to New Financing Sources

Cuyahoga County Land Bank Rebuilds Neighborhoods, Thanks to New Financing Sources

By Adrian Maties, Associate Editor On Aug. 29, the Cuyahoga County Land Reutilization Corporation, also known as the Cuyahoga County Land Bank, received approval to change its source of funding. The land bank works with cities, lenders, government units or individual property owners, [...]…

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Nestlé Plans Expansion at L.J. Minor Manufacturing Plant

Nestlé Plans Expansion at L.J. Minor Manufacturing Plant

By Adrian Maties, Associate Editor Global food giant Nestlé broke ground Aug. 18 on a $20 million-plus, two-story, 75,000-square-foot expansion of its longtime L.J. Minor manufacturing plant in Cleveland. The Swiss food icon is also planning a major research-and-development facility in [...]…

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New Rehabilitation Hospital to Open in Beachwood

New Rehabilitation Hospital to Open in Beachwood

By Adrian Maties, Associate Editor University Hospitals and Nashville-based Centerre Healthcare Corp. announced a joint venture to construct a freestanding in-patient rehabilitation hospital in the Cleveland suburb of Beachwood. The 50,000-square-foot, 40-bed facility will cost $17 million to construct. It will be [...]…

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Work on Avon Clinic Nears Completion

Work on Avon Clinic Nears Completion

By Adrian Maties, Associate Editor Work on Cleveland’s Avon Family Health & Surgery Center is nearing completion. Soon, the $97.9 million will be finished and will be able to receive patients. Dr. Joseph Knapp, medical director of the Westlake Family Health Center, [...]…

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$350M Casino Drives Cleveland Forward

$350M Casino Drives Cleveland Forward

By Adrian Maties, Associate Editor After the state gaming referendum passed in 2009, plans were set in motion all over Ohio to build casinos. Horseshoe Casino Cleveland will open in 2012, in the lower four floors of the Higbee Building at [...]…

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Stark Proposes Expansion of Crocker Park Mixed-Use Complex in Westlake

Stark Proposes Expansion of Crocker Park Mixed-Use Complex in Westlake

By Adrian Maties, Associate Editor Stark Enterprises is currently in negotiations with the city of Westlake to approve an updated Crocker Park master plan for expanding the retail, residential and commercial center. The updated plan would expand the project to 3 [...]…

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Parmatown’s Lender Files for Receivership

Parmatown’s Lender Files for Receivership

By Adrian Maties, Associate Editor Parmatown Mall’s mortgage lender has filed for the appointment of a receiver in Cuyahoga County Common Pleas Court. That means the lender, Midland Loan Services, will take control of the property, list it for sale and [...]…

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Cleveland Development Projects Drive City Improvement

Cleveland Development Projects Drive City Improvement

By Adrian Maties, Associate Editor Cleveland has reached a turning point. For the first time in many years and despite many challenges (a shrinking population, high unemployment and the scars of years of residential and corporate flight to the suburbs), the [...]…

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Developers Diversified Upgrades Loans

Developers Diversified Upgrades Loans

By Adrian Maties, Associate Editor Developers Diversified Realty Corp. announced last week it has replaced a $550 million loan scheduled to mature in February 2012 with a new one for $500 million. The new loan has a 39-month term, with an additional [...]…

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Harbor Group Lists Former BP Tower, Invests in Cleveland Real Estate

Harbor Group Lists Former BP Tower, Invests in Cleveland Real Estate

By Adrian Maties, Associate Editor Harbor Group International L.L.C. has been actively trading Cleveland real estate lately.  The Norfolk-based company has acquired a parking garage and is trying to sell one of the city’s most dominant skyscrapers. Once known as BP Tower, the [...]…

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