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150 Keep Court in Elyria sold on behalf of Community Health Partners
Mike Petrigan and Terry Coyne represented Community Health Partners in the sale of 150 Keep Court, Elyria. The building was approximately 100,000 square feet, and was unoccupied at the time of sale. The building property was originally acquired by CMH for purposes of expansion for its adjoining cancer center. Expansion plans were modified and no longer included this property, at which point CMH retained Grubb & Ellis to market and sell the asset. The buyer is a partnership led by commercial real estate broker, Kevin Kelly. Kevin's group will reposition the property for lease.
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La Dolce Vita sells in Little Italy, Cleveland, Ohio
The building which houses well known restaurant, La Dolce Vita, in the Little Italy neighborhood of Cleveland, Ohio, sold on Tuesday, February 2, for $725,000 to a partnership led by restauranteur and tenant, Terry Tarantino.
The building is located at 12110 Mayfield, at the corner of Mayfield and Murray Hill, and houses the restaurant and 10 apartment units above it, with attached parking. The new ownership group expects to spend significant money upgrading the property.
The former owners, JDI Murray Hill, had retained Terry Coyne of Grubb and Ellis to sell the property. JDI Murray Hill had formerly been the lender, but had foreclosed on the building and had taken ownership in the December of 2009.
Mark Nasca, a Senior Vice President of JDI and a partner in the deal said, "Terry Coyne and his team were outstanding in implementing and executing the sale process. It was smooth and well run and concluded with an outcome which made our partnership very happy."
For more information on the property, visit http://www.terrycoyne.com/ourproperties/detail.asp?id=238
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Rosetta Relocation to East 6th and Euclid Avenue
Our team assisted Rosetta relocate its Cleveland area offices to the former New England building built in 1920, on the north side of Eucld at 629 Euclid. It was most recently known as the National City Center, located one building to the west of the current National City Headquarters, now PNC, on the corner of East 9th and Euclid. Founded in 1998, Rosetta has rapidly become the largest independent interactive agency in the US. AdAge ranks it amongst the top ten digital agencies and the fastest growing agency within the top 50.
Rosetta searched the suburbs and the city, but focused on the city, specifically the east 4th street area due to the vibrant neighborhood created by the Maron family. The employees will be housed in the top 6 floors, which will also include a new glass enclosed penthouse, on the 17th floor.
The East 4th Street district is moving from a residential and retail district into its next phase as a true mixed used, commercial, residential, and retail district, attracting companies which want to be located in an area offering so many diverse free time activities. Floors 2 through 10 of the Rosetta Center, which is the new name of the building, is being marketed by our team. We are focusing on other companies which want to be in unique, cool space and be surrounded by an eclectic, creative, and diverse workforce.
www.terrycoyne.com/ourproperties/detail.asp?id=241
The Euclid Corridor, from Public Square to CSU is quickly taking shape with announcements of new developments occurring at an increasing pace. The one area which needs a kick start is between East 10th and East 12th streets on both the north an
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uth sides of the street. Buildings such as the former CAC building hold great potential, but need a developer willing to take a significant risk on redevelopment. Hopefully attracting Rosetta and other companies will help push the development down Euclid and kick start that section of Euclid.
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