AKRON, OHIO — SVN Summit Commercial Real Estate Advisors has negotiated the $2.7 million sale of a two-building, multi-tenant industrial property at 555-557 E. Tallmadge Ave. in Akron. Graydon Fox of SVN Summit represented the seller, while Jerry Fiume of SVN Summit represented the buyer. Situated in the North Hill industrial corridor, the 68,369-square-foot property features convenient access to State Route 8. FedEx Ground is a longtime anchor tenant at the facility.
CINCINNATI AND DALLAS — Fifth Third Bancorp (Nasdaq: FITB) has entered into a merger agreement to acquire Comerica Inc. (NYSE: CMA) in a transaction valued at roughly $10.9 billion. Under the terms of the all-stock transaction, Comerica’s stockholders will receive approximately 1.86 shares of Fifth Third common stock for each Comerica share they own. That condition translates to a per-share price of $82.88, which was Fifth Third’s closing stock price on Oct. 3, the last business day before the deal was formally announced. The closing price also represents a 20 percent premium to Comerica’s 10-day volume-weighted average stock price. Upon closing, which is expected to occur at the end of the first quarter of 2026, Fifth Third shareholders will own approximately 73 percent of the combined company, and Comerica shareholders will own approximately 27 percent. According to Fifth Third and Comerica, the newly formed company will have about $288 billion in assets under management (AUM), making it the ninth-largest U.S. bank by that metric. In addition, the combined entity will operate in 17 of what company officials have described as “the 20 fastest-growing markets in the country, including key regions in the Southeast, Texas and California.” Company officials also anticipate …
CLEVELAND — The NRP Group has completed The Collins, a 316-unit luxury apartment development on the Scranton Peninsula in Cleveland. The development transforms a long-underutilized waterfront site. Designed by BKV Group, the project spans more than 7 acres and comprises two five-story apartment buildings and three townhome buildings. Apartment units range from studios to three-bedroom layouts. Townhomes include private entry, rooftop balconies and two-car garages. Indoor amenities include a fitness center, resident clubhouse, conference room, private breakout pods and a pet spa. A fifth-floor lounge provides views of the Cuyahoga River and city skyline. Outdoor amenities include a resort-style pool, firepits, grilling stations and an event plaza. The development connects to the Towpath Trail, with free onsite bike rentals available for residents. Dollar Bank served as the construction lender. The Ohio Department of Development provided funds through its Brownfield Remediation and State Opportunity Zone Programs. The Ohio Water Development Authority provided gap financing as well. The City of Cleveland provided tax abatement and tax-increment financing. Monthly rents start around $1,505, according to the property’s website. Residents can earn two months of free rent by moving in prior to Nov. 1.
NEW ALBANY, OHIO — Cushman & Wakefield has brokered the sale of a 170,000-square-foot office campus located at 8111 Smith’s Mill Road in New Albany near Columbus. EOG Resources Inc., one of the largest crude oil and natural gas exploration and production companies in the United States, was the buyer. The campus will house EOG Resources’ new Columbus division, adding support for the company’s Utica Shale asset development close to its operations in the region. The LEED Gold-certified building offers office, training and lab facilities along with modern amenities. Randy Stephens and W. Allan Meadors of Cushman & Wakefield represented EOG Resources in the transaction. The company plans to open the new office later this year.
CHICAGO, CLEVELAND, CINCINNATI AND COLUMBUS — Investcorp has sold a portfolio of Midwest industrial properties for $365 million. The assets total approximately 3.5 million square feet and are located within metro Chicago, Cleveland, Cincinnati and Columbus. The portfolio includes a group of 23 light industrial facilities spanning more than 2 million square feet across Columbus, Cincinnati and Cleveland as well as an eight-building, 1 million-square-foot industrial park located three miles from the Chicago O’Hare International Airport and a 434,000-square-foot distribution facility in metro Cleveland.
SAN FRANCISCO — OpenAI, along with Oracle Corp. (NYSE: ORCL) and SoftBank, has announced plans for the development of five new data centers in the United States. The new projects are part of the $500 billion Stargate initiative to expand American data center infrastructure, which was announced in January at the White House. Together with the flagship site in Abilene, Texas, the new data centers will bring Stargate to more than $400 billion in investment and almost 7 gigawatts (GW) of planned capacity over the next three years. OpenAI and Oracle will partner on three of the facilities — located in Shackelford County, Texas; Doña Ana County, New Mexico; and an additional site at an undisclosed location in the Midwest — which represent a $300 billion agreement between the companies. According to OpenAI, these projects are expected to create more than 25,000 onsite jobs and thousands of additional jobs throughout the country. Together, the facilities will offer up to 4.5 GW of capacity. A partnership between SoftBank and OpenAI will develop the other two data centers, which will have the capacity to scale to 1.5 GW over the next 18 months. One of the sites is located in Lordstown, Ohio, with …
COLUMBUS, OHIO — Hammes has broken ground on OhioHealth Hall, an 80,000-square-foot academic building for healthcare education at Columbus State Community College in Columbus. The facility will feature labs, simulation spaces, classrooms and student amenities. The project, announced in June 2023, is a partnership with OhioHealth. Hammes Healthcare will serve as Columbus State’s project manager and owner’s representative. The architect is Moody Nolan, and Elford is serving as the construction manager.
FAIRVIEW PARK, OHIO — JLL Capital Markets has brokered the $13.8 million sale of Fairview Centre, a 147,602-square-foot shopping center in the Cleveland suburb of Fairview Park. The grocery-anchored property consists of three buildings that are nearly 90 percent occupied by Giant Eagle, which has a 30-year tenure at the center. Additional tenants include Dollar Tree, Onyx Gyms, Goldfish Swim School, UPS and the American Cancer Society. Michael Nieder and Brian Page of JLL represented the seller, Lamar Cos. Axiom Realty purchased the asset.
GRANDVIEW HEIGHTS, OHIO — VIUM Capital, a seniors housing and healthcare commercial real estate finance firm, has leased 14,808 square feet of new headquarters space at 995 Yard Street within Grandview Yard in Grandview Heights, just north of Columbus. Clayton Davis of JLL represented the tenant. Grandview Yard is a 125-acre mixed-use development featuring more than 1.2 million square feet of office space, 1,500 residences, hospitality, retail and restaurant uses. The neighborhood is home to businesses such as Nationwide Insurance, OhioHealth, Ernst & Young, Willis, Ineos and Acrisure. The office at 995 Yard St. consists of two connected four-story buildings totaling 245,000 square feet. Amenities include Crossings Café, a fitness center and conference facility. Construction on VIUM’s space is underway, with occupancy slated for the first quarter of 2026.
OHIO — In a sale-leaseback transaction, CrownPoint Partners has sold a five-property dental real estate portfolio in Ohio for $5.5 million. A Midwest-based private investment fund focused on healthcare real estate was the buyer. The assets are located in Mansfield, Warren, Sidney, Akron and Eaton.
