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City of Cleveland Selects Lakefront Developers

City of Cleveland Selects Lakefront Developers

Cleveland’s lakefront has seen little major construction since the late 1990s. However, this is about to change. Last week, Mayor Frank G. Jackson’s Lakefront Development Advisory Committee has selected a developer for the 28 acres at the water's edge. The project is expected to breathe new life into the area…

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Noble Investment Group Buys Four Residence Inn by Marriott Hotels in Greater Cleveland

Noble Investment Group Buys Four Residence Inn by Marriott Hotels in Greater Cleveland

Noble Investment Group announced last week the acquisition of four Residence Inn by Marriott hotels in the greater Cleveland metro area. The Atlanta-based company did not disclose how much it paid for the properties.…

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Victory Center Prepares to Receive Tenants in Health-Tech Corridor

Victory Center Prepares to Receive Tenants in Health-Tech Corridor

Garson Victory LLC, a partnership led by real estate broker Scott Garson, purchased the old, vacant building at 7012 Euclid Avenue in late 2010 for $2.7 million. Soon after the acquisition, it started work on a redevelopment project to transform the property into the Victory Center, a mixed-use complex…

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Beachwood’s Four Seasons Enters Final Stretch of Campus Expansion Project

Beachwood’s Four Seasons Enters Final Stretch of Campus Expansion Project

The Four Seasons is a luxury gated apartment community in Beachwood. It is owned by Cleveland’s Goldberg Companies, Inc., and is currently undergoing an expansion project that will provide several state-of-the-art amenities to current and future residents. The project is scheduled for completion this spring.…

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Cleveland Metro Area Apartment Construction Achieves Five-Year High

Cleveland Metro Area Apartment Construction Achieves Five-Year High

In recent years, the soft job market and the uncertainty about the local economy kept many people in the Cleveland area from buying new homes. Instead, they opted to rent. That’s why, during 2012, apartment vacancy in the metro area reached one of the lowest levels of the last decade.…

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W.P. Carey Buys, Leases Back Air Enterprises Warehouse Facility

W.P. Carey Buys, Leases Back Air Enterprises Warehouse Facility

A Northeast Ohio industrial property recently changed hands. The Air Enterprises Manufacturing/Warehouse Facility in Streetsboro, Ohio, has been acquired by W. P. Carey Inc., a publicly-traded REIT, for a total price of approximately $7 million.…

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Buffalo Lodging Associates to Manage Hilton Garden Inn Akron

Buffalo Lodging Associates to Manage Hilton Garden Inn Akron

The Hilton Garden Inn Akron is scheduled to open this fall. The hotel is currently under development on three acres of land, on the former Goodyear world headquarters campus, at the corner of East Market Street and Kelly Avenue. It will be the first hotel constructed in Akron since 1980…

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Two More Hotels Planned for Cleveland Area

Two More Hotels Planned for Cleveland Area

2013 was a good year for hotel construction in the Greater Cleveland area, as developers started work on an important number of projects expected to deliver hundreds of new rooms to the region in the near future. And it seems that this hotel construction boom will continue into 2014.…

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Westin Cleveland Downtown to Open in May

Westin Cleveland Downtown to Open in May

The Westin Cleveland Downtown hotel will open this May in Cleveland's downtown financial district following a $64 million renovation. It will have a new look and a new general manager. Recently, the ownership has hired Mark Anderson to lead the hotel in operations and guest services.…

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BakerHostetler to Move to Cleveland’s Key Tower in 2016

BakerHostetler to Move to Cleveland’s Key Tower in 2016

Prime office spaces continue to be in high demand in Downtown Cleveland. BakerHostetler is just the most recent name added on the growing list of companies looking to do or to continue doing business in the CBD. Ranked 65th on the AmLaw 100 (American Lawyer, 2013, by gross revenue), the…

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Marcus & Millichap Arranges Sale of North Olmsted Towne Center for $17.8M

Marcus & Millichap Arranges Sale of North Olmsted Towne Center for $17.8M

Large retail properties in the Greater Cleveland area have seen a lot of action in the final quarter of 2013. Recently, Devonshire REIT, Inc. has paid $8 million for the Great Lakes Plaza in Mentor, while the Starwood Capital Group has acquired two shopping centers in North Olmsted and…

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Ohio Development Services Agency Awards $20M in Ohio Historic Preservation Tax Credits to Five Northeast Ohio Projects

Ohio Development Services Agency Awards $20M in Ohio Historic Preservation Tax Credits to Five Northeast Ohio Projects

On Dec. 20, the Ohio Development Services Agency awarded $33 million in Ohio Historic Preservation Tax Credits to rehabilitate 31 historic buildings in 10 communities across the state. Five of these projects are located in Northeast Ohio.…

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