Ohio

Topgolf Opens 65,000 SF Venue in Metro Cleveland

by Kristin Harlow December 19, 2019

INDEPENDENCE, OHIO — Topgolf Entertainment Group has opened its newest Ohio location in the Cleveland area. The three-level, 65,000-square-foot venue will feature popular Topgolf games and technology as well as private event spaces. In addition to golf, guests will enjoy a chef-driven menu, drinks, big screen TVs and music. The Cleveland location is situated at 5820 Rockside Woods Blvd. More than 500 full- and part-time associates were hired in advance of the property’s opening. Topgolf also has locations in Columbus and Cincinnati.

December 19, 2019

Development Midwest Ohio Retail

Restoration Hardware Opens 60,000 SF Gallery at Easton Town Center in Columbus

by Kristin Harlow December 17, 2019

COLUMBUS, OHIO — Restoration Hardware has opened RH Columbus, The Gallery at Easton Town Center. The three-story, 60,000-square-foot concept includes a rooftop restaurant, wine and barista bar and landscaped park. On level two, visitors will find RH Modern, an assortment of modern furnishings, lighting, textiles and décor, as well as the RH Interior Design Firm & Atelier. RH Columbus is located at 4120 Worth Ave. within Easton Town Center, a 1,300-acre shopping center and mixed-use destination. “RH Columbus reflects our vision to create architecturally inspiring spaces that blur the lines between residential and retail, indoors and outdoors, home and hospitality — spaces that activate all of the senses and create an immersive experience that cannot be replicated online,” says Gary Friedman, RH chairman and CEO.

December 17, 2019

Acquisitions Hospitality Midwest Ohio

MCR Purchases 240-Room Hilton Garden Inn in Downtown Cleveland

by Kristin Harlow December 17, 2019

CLEVELAND — MCR has purchased the 240-room Hilton Garden Inn hotel in downtown Cleveland for an undisclosed price. Located at 1100 Carnegie Ave., the property is a short drive from the home where the 1983 movie A Christmas Story was filmed. Starring Peter Billingsley, a young boy named Ralphie attempts to get a Red Ryder BB gun from Santa. The Hilton Garden Inn features Harvey’s Sports Lounge and The Garden Grille, as well as a convenience store, fitness center, indoor pool, business center and 11,000 square feet of meeting space. New York City-based Hotel 1100 Carnegie LP sold the hotel for $28.2 million, according to Crain’s Cleveland Business.

December 17, 2019

Acquisitions Midwest Ohio Retail

Marcus & Millichap Brokers $2.5M Sale of Net Leased CVS Property in Ohio

by Kristin Harlow December 16, 2019

WASHINGTON COURT HOUSE, OHIO — Marcus & Millichap has brokered the $2.5 million sale of a 10,125-square-foot property net leased to CVS Pharmacy in Washington Court House, located between Columbus and Cincinnati. The building is located at 1795 Columbus Ave. CVS recently extended its lease for 15 years. Dan Yozwiak and Nathan Coe of Marcus & Millichap secured the buyer, a partnership completing a 1031 tax-deferred exchange. Doug Brooks of Marcus & Millichap Capital Corp. arranged long-term, fixed-rate acquisition financing.

December 16, 2019

Acquisitions Illinois Indiana Industrial Midwest Ohio Wisconsin

Starwood Acquires 33-Property Industrial Portfolio in Midwest for $319.6M

by Kristin Harlow December 12, 2019

CHICAGO, INDIANAPOLIS, COLUMBUS AND MILWAUKEE — Starwood Real Estate Income Trust Inc., a non-traded real estate investment trust managed by Starwood Capital Group, has acquired a 33-property industrial portfolio totaling 4.1 million square feet in the Midwest for approximately $319.6 million, excluding closing costs. The properties are located in Chicago, Indianapolis, Columbus and Milwaukee. The portfolio is 98 percent leased to 50 tenants. It is largely comprised of light industrial buildings of less than 250,000 square feet. Kurt Sarbaugh, Robin Stolberg, Michael Joseph and Dominic Espinosa of JLL represented the seller, Becknell Industrial and a joint venture partner. Becknell will retain its position in the portfolio. Ken Martin, Alex Witt, Troy Shiley and Nelson Almond of JLL arranged a 10-year, $210 million fixed-rate CMBS loan with a global investment bank on behalf of new ownership.

December 12, 2019

Acquisitions Midwest Ohio

Colliers Brokers $9M Sale of Sports Facility in Geneva, Ohio

by Kristin Harlow December 10, 2019

GENEVA, OHIO — Colliers International has brokered the $9 million sale of a Spire Institute sports facility in northeast Ohio’s Geneva. The 750,000-square-foot property is located at 5201 Spire Circle. The development includes an outdoor stadium, indoor track and field arena, aquatics center as well as volleyball and basketball courts. Mark Abood and Brian Hurtuk of Colliers represented the seller, Ronilee LLC. Baltimore-based investment group Axxella LLC was the buyer.

December 10, 2019

Loans Midwest Office Ohio

NorthMarq Secures $6.1M Refinancing for Office Building in Fairborn, Ohio

by Kristin Harlow December 6, 2019

FAIRBORN, OHIO — NorthMarq has secured a $6.1 million loan for the refinancing of Wright Executive Center in Fairborn near Dayton. The 119,473-square-foot office building is located on Presidential Drive. Susan Branscome of NorthMarq arranged the 10-year, fixed-rate loan with a life insurance company. The borrower was undisclosed.

December 6, 2019

Development Industrial Midwest Ohio

GM, LG Chem to Invest $2.3B for Electric Vehicle Battery Production, Build Assembly Plant in Northeast Ohio

by Kristin Harlow December 5, 2019

LORDSTOWN, OHIO — General Motors and LG Chem have teamed up to invest up to $2.3 billion through a new, equally owned joint venture company. The partnership plans to establish a battery cell assembly plant for electric vehicles on a greenfield manufacturing site in northeast Ohio’s Lordstown. The plant is expected to create more than 1,100 new jobs. Groundbreaking is slated for mid-2020. Coinciding with the news is GM’s sale of its manufacturing complex in Lordstown to Lordstown Motors Corp. for the production of battery-electric trucks. This investment builds on GM’s previously announced $28 million investment in its Warren, Mich. battery lab.

December 5, 2019

Acquisitions Midwest Ohio Retail

ICP Purchases Former Kmart Building in Suburban Cleveland

by Kristin Harlow December 2, 2019

GARFIELD HEIGHTS, OHIO — Industrial Commercial Properties (ICP) has purchased a building formerly occupied by a Kmart store in Garfield Heights, a suburb of Cleveland. The purchase price was not disclosed. The 89,300-square-foot property is located at 12501 Rockside Road and is situated on 9.3 acres. ICP plans to update the building and repurpose it into industrial space.

December 2, 2019

Acquisitions Midwest Ohio Retail

Baum Brokers $1.9M Sale of Staples-Occupied Property in Ohio

by Kristin Harlow November 22, 2019

MIDDLETON, OHIO — Baum Realty Group LLC has brokered the $1.9 million sale of a 22,052-square-foot, single-tenant building occupied by Staples in Middleton, about 30 miles northeast of Cincinnati. Patrick Forkin of Baum represented the seller, a private regional investor. The buyer was undisclosed. Staples has approximately four years remaining on its lease.

November 22, 2019

Newer Posts

Older Posts