July 5, 2002 IPC US REIT (TSE:IUR) has agreed to buy the McDonald Investment Center, a 23-story office tower in downtown Cleveland, for $45.5 million.The Toronto-based REIT, which invests only in U.S. commercial real estate, is buying the office building ...
aka McDonald Investment Center; 94 percent occupied
Walton Street Capital has opted to refinance One Cleveland Center, a premier office tower in downtown it has had on the market for sale. Granite Partners arranged the three-year floating rate loan, which Aegon provided.
March 1, 2002 By Patrick Crowley, Commercial Real Estate Direct WriterThe sale of the Galleria at Erieview, a retail and office complex in downtown Cleveland, has hit a snag.Alex Sassoon – a principal at McKnight Development of Pittsburgh, the prospective ...
January 22, 2002 Commercial Real Estate Direct Staff ReportClass-B office buildings in Cleveland, like the office component of Galleria at Erieview, which McKnight Development Corp. is buying, generally trade for $60/sf to $70/sf, according to area brokers. If that holds ...
McNight Development, a family-run real estate company in Pittsburgh, is buying Galleria at Erieview, a retail/office complex in Cleveland that is in need of repair. The property is being purchased from Cigna, which took it over last year.
Signed letter of intent with the mortgage holder for the 740,000-sf office tower and adjoining 150,000-sf mall
Buyer plans to fix the mall's ring road, Severance Circle, and fill empty storefronts.
Another large office project has been halted because of fears that it wouldn't be easily leased, offering a vivid example of what's happening in many of the country's secondary markets.
August 13, 2001 Commercial Real Estate Direct Staff ReportCLEVELAND – Prime Group Realty Trust (NYSE:PGE) has received $67 million of floating-rate financing for the National City Center from Corus Bank.The five-year loan carries a rate pegged to three-month Libor plus ...
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