REBusinessOnline

KeyBank Provides $74.3M in Construction Financing for Affordable Housing Property in Columbus

COLUMBUS, OHIO — KeyBank Community Development Lending and Investment has provided $74.3 million in construction financing for Darby Crossing, an affordable housing property in Columbus. Indianapolis-based Kittle Property Group is the developer.The 11-building property will include 60 one-bedroom units, 92 two-bedroom units, 84 three-bedroom residences, 24 four-bedroom apartments and two cottages. All units will be restricted to residents who earn up to 60 percent of the area median …

NAI Pleasant Valley Brokers Sale of 12,559 SF Industrial Building in Twinsburg, Ohio

TWINSBURG, OHIO — NAI Pleasant Valley has brokered the sale of a 12,559-square-foot industrial building in Twinsburg, located about halfway between Akron and Cleveland. The sales price was undisclosed. The property is located at 2458 Edison Blvd. Jeffrey Calig and David Hexter of NAI Pleasant Valley represented the undisclosed seller and the buyer, Columbus-based TNT Services, which is a fleet and commercial property power washing

City Club Starts Redevelopment of Historic Union Central Tower in Cincinnati to 281-Unit Apartment Building

CINCINNATI — City Club Apartments has broken ground on the redevelopment of Union Central Tower, a historic skyscraper in downtown Cincinnati. Plans call for 281 luxury apartments in a mix of unfurnished long-term rentals and furnished short-term rentals, as well as ground-floor commercial space. The total cost of the redevelopment is estimated to be $90 million.Union Central Tower, most recently known as PNC Tower, was built in 1913 and at 31 stories was the fifth-tallest building in …

Amazon Style Store to Open at Easton Town Center in Columbus, Ohio

COLUMBUS, OHIO — Amazon is opening an Amazon Style store at Easton Town Center in Columbus. The store will be the first Amazon Style location in the state of Ohio and the second nationwide for the e-commerce giant. The first Amazon Style store opened in the Los Angeles area May 25. As Amazon’s first-ever physical clothing store, Amazon Style is designed to help customers discover fashion looks through a personalized and convenient shopping experience using advanced technology. Customers can …

Boston Group to Relocate Headquarters to Ravenna, Ohio

RAVENNA, OHIO — Boston Group, which designs and manufactures custom metal and plastic displays for retail stores, hospitals and pharmacies, has unveiled plans to relocate its headquarters from Boston to Ravenna, about 15 miles east of Akron. The company will also relocate from an existing manufacturing facility in Hubbard, Ohio. The new headquarters and manufacturing facility will span 308,000 square feet of office and warehouse space. The property owner, Industrial Commercial Properties, …

Quest Defense Signs 25,702 SF Office Lease for New Headquarters in Blue Ash, Ohio

BLUE ASH, OHIO — Aerospace and defense company Quest Defense has signed a 25,702-square-foot office lease for its new headquarters at Pfeiffer Place at Parkviewin Blue Ash near Cincinnati. The company is relocating from its Class B space at SharonView Corporate Center. Pfeiffer Place offers a conference center, café and onsite security. Todd Pease of JLL represented the landlord, Ohio National Financial

Stonemont Financial Group to Build 450,000 SF Spec Industrial Development Near Cleveland

WESTFIELD CENTER, OHIO — Stonemont Financial Group has unveiled plans to build a 450,000-square-foot speculative industrial development in Westfield Center near Cleveland. Named Westfield Commerce Park, the Class A facility marks Stonemont’s first speculative development in Northeast Ohio. Plans call for a clear height of 36 feet, cross-dock configuration, 500 car parking spaces, 130 trailer stalls, 65 dock doors and four drive-in doors. Stonemont is the developer, while Pinnacle Bank and …

Huey Magoo’s Opens 2,500 SF Restaurant in Englewood, Ohio

ENGLEWOOD, OHIO — Huey Magoo’s has opened its first restaurant in the state of Ohio in Englewood, a northern suburb of Dayton. The 2,500-square-foot building, located at 9196 N. Main St., is the 27th restaurant nationwide for the chicken tenders brand. The Englewood restaurant will offer dine-in, take out, curbside pickup and delivery through third-party services Uber Eats and DoorDash. Huey Magoo’s franchisees Tim and Ronda Hobart will operate the

Saltbox Opens 80,000 SF Fulfillment Hub in Columbus

COLUMBUS, OHIO — Saltbox, a flexible warehousing and small-business logistics provider, has opened a new fulfillment hub in Columbus. The 80,000-square-foot building is the sixth Saltbox location nationwide and the first in Ohio. The property is situated near John Glenn Columbus International Airport, major railroads and I-270. Saltbox says the location enables its members to reach 67 percent of the U.S. population via two-day shipping. More than 70 percent of Saltbox’s 300 members are …

Merchants Capital Completes $214M Multifamily Mortgage Securitization

CARMEL, IND. — Merchants Capital has completed a $214 million CMBS securitization of 14 multifamily mortgage loans. The loans are secured by 24 mortgaged properties through a Freddie Mac-sponsored Q-series transaction. Freddie Mac securitizes multifamily loans via its Q Certificate structure. In this process, a lender sells its loans, after approval by Freddie Mac, to a third-party depositor who places them into a third-party trust, which issues private-label securities backed by the …

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‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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