REBusinessOnline

Pembrook Provides $17.7M Acquisition Loan for Multifamily Portfolio in Shaker Heights, Ohio

SHAKER HEIGHTS, OHIO — Pembrook Capital Management LLC has provided a $17.7 million loan for the acquisition and renovation of a 275-unit multifamily portfolio in Shaker Heights, an inner-ring suburb of Cleveland. The properties include Colton House, Golfview, Fairway-Marchmont Terrace, Aristocrat and Moreland Manor. The borrower, Significan Lifestyle Communities, is known for its unique property management method whereby tenants enter into membership agreements as opposed to leases and pay …

Loans, Midwest, Multifamily, Ohio

Huntington Bancshares Agrees to Acquire TCF Financial in $22B Deal

COLUMBUS, OHIO AND DETROIT — Huntington Bancshares Inc. (NASDAQ: HBAN) and TCF Financial Corp. (NASDAQ: TCF) have signed a definitive agreement under which the companies will combine in an all-stock merger with a total market value of approximately $22 billion. According to a release, the merger will create a top 10 U.S. regional bank with dual headquarters in Columbus, Ohio and Detroit. Under the terms of the agreement, which was unanimously approved by the boards of directors of both …

Michigan, Midwest, Ohio

GBX Group, Ethos Capital Complete Multifamily Adaptive Reuse Project in Cleveland

CLEVELAND — GBX Group LLC, in partnership with Ethos Capital Partners LLC, have completed the revitalization of 2125 Superior Avenue in Cleveland’s Superior Arts District. The modernized residential and retail property is now known as 2125 Superior Living. Originally built in 1914 as the home of The Prince-Wolf Co. garment factory, the property now includes 57 units. The 40,000-square-foot development features amenities such as a courtyard and dog park. Street-level retail space will be …

Development, Midwest, Multifamily, Ohio

Stan Johnson Brokers $29M Sale of Cincinnati Industrial Building

CINCINNATI — Stan Johnson Co. has brokered the sale of a 134,000-square-foot industrial building in Cincinnati for approximately $29 million. Located at 3191 Railside Ave., the last-mile facility is fully leased to an undisclosed e-commerce company. The newly constructed facility sits on 22.5 acres. Craig Tomlinson and John Zimmerman of Stan Johnson represented the seller, Neyer Properties. EXAN Group represented the buyer, a discretionary Spanish commercial real estate group. The property is …

Acquisitions, Industrial, Midwest, Ohio

Coworking Company COhatch to Open Third Cincinnati-Area Location

MILFORD, OHIO — Coworking company COhatch has unveiled plans to open its third Cincinnati-area location in Milford, about 15 miles northeast of Cincinnati. The coworking space will be located at the site of the former Sycamore Distillery. Originally built in 1834, the downtown historical landmark is being renovated and restored. COhatch says its new space will help meet growing demand from local residents for community, collaboration and private office space. The 8,800-square-foot building is …

Development, Midwest, Office, Ohio

Reichle Klein Group Arranges $1.8M Sale of Industrial Facility in Toledo, Ohio

TOLEDO, OHIO — Reichle Klein Group has arranged the sale of a 65,200-square-foot industrial facility in Toledo for $1.8 million. The property sits on 2.7 acres at 0 Water St. Jerry Malek of Reichle Klein represented the seller, Norfolk Southern Railway Co. Downtown Toledo Development Corp. purchased the

Acquisitions, Industrial, Midwest, Ohio

Pizzuti Opens 100-Unit Residences at the Sutton in Columbus, Ohio

COLUMBUS, OHIO — The Pizzuti Cos. has opened The Residences at the Sutton, a 100-unit luxury apartment development in the Short North Arts District of Columbus. Move-ins for the first residents have begun. The six-story project features studios, one- and two-bedroom floor plans as well as 123 parking spaces. Amenities include a fitness center with Peloton bikes, yoga area and package room. The third floor includes a 2,000-square-foot amenity deck with a bocce ball court, fire pit and …

Development, Midwest, Multifamily, Ohio

Plymouth Industrial REIT Completes Acquisition of Ohio Industrial Portfolio for $94M

AKRON AND CANTON, OHIO — Plymouth Industrial REIT Inc. has closed on a previously announced acquisition of a portfolio of industrial buildings located in Akron and Canton for approximately $94 million. The 10 buildings total 2.1 million square feet. They are 98 percent leased to 15 tenants in a variety of industries, including transportation and logistics, healthcare, manufacturing and food and beverage. The acquisition brings Plymouth’s holdings in the Cleveland metro area to 3.6 million …

Acquisitions, Industrial, Midwest, Ohio

First National Realty Partners Acquires Whole Foods-Anchored Center in Akron, Ohio

AKRON, OHIO — First National Realty Partners (FNRP) has acquired West Market Street Station in Akron for an undisclosed price. The Whole Foods Market-anchored shopping center is located at 1745 W. Market St. It spans 54,232 square feet and opened in September 2017. Other tenants include Lululemon, PetPeople, Orangetheory Fitness, Moe’s Southwest Grill, Great Clips and Salon Lofts.  This is the first Whole Foods within FNRP’s shopping center portfolio. Fain Hicks, Margaret Jones, Lane …

Acquisitions, Midwest, Ohio, Retail

First Hospitality Opens 122-Room Residence Inn Hotel at Columbus Airport

COLUMBUS, OHIO — First Hospitality has opened a 122-room Residence Inn by Marriott hotel in Columbus. Located at 4294 International Gateway, the hotel is the first extended-stay property at John Glenn Columbus International Airport. The pet-friendly hotel features studios and one-bedroom suites. A complimentary shuttle operates within a five-mile radius from the hotel and includes access to the shopping destination Easton Town Center. Other amenities include an indoor pool, fitness center, …

Development, Hospitality, Midwest, Ohio
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