Four commercial properties in downtown Alliance sold for $1 million, according to the latest real estate transfers filed with the Stark County Auditor’s Office.
Carbon Alliance LLC purchased adjacent office buildings at 243 E. Main St. and 245 E. Main St. as well as the commercial building at 500 E. Main St. and the parking lot behind the building on Warehouse Street. The properties were previously owned by Olde Theatre Apartments Limited Partners.
This week’s transfers cover March 23 to March 29:
Alliance
Carbon Alliance LLC from Olde Theatre Apartments Limited Partners, 243 E Main St, $1,000,000.
Carbon Alliance LLC from Olde Theatre Apartments Limited Partners, 245 E Main St, $1,000,000.
Carbon Alliance LLC from Olde Theatre Apartments Limited Partners, 508 Warehouse St, $1,000,000.
Carbon Alliance LLC from Olde Theatre Apartments Limited Partner, 500 E Main St, $1,000,000.
Cuthbertson Ryan from Alliance Homes II LLC, 1305 Elmside St NE, $150,000.
Forman Jason v from Fireside Estates LLC 2740 Series, 721 Garwood St, $45,000.
Jacocks Terence from Taylor Anita & Dixon Stephen & Annese, 1462 S Arch Ave, $42,000.
Keleman Joseph Anthony & Abby Lynn from Trade in Holdings LLC, 2505 Ridgewood Ave, $280,000.
Medel Victor & Maria Evelyn from Fasig Mary J, 994 Federal Ave, $260,000.
Mega Rentals Ltd from Price Matthew, 104 W Columbia St, $32,000.
Noling Jennifer L from Kramer Rosella M, 379 Buckeye Ave, $109,000.
Path of Patriots LLC from Hensley Bruce G & Carol A, 2235 S Linden Ave, $76,900.
Property Renovations of Alliance LLC from Ramser Richard J, 1045 W Cambridge St, $155,000.
Lexington Township
Kirksey Joan M from Kirksey Joan Et Al, parcel 2900703 Jennings Rd NE, $4,500.
Kirksey Joan M from Kirksey Joan M, parcel 2900703 Jennings Rd NE, $3,000.
Township Homes Ltd from League Alexander Riley, 11361 Homestead Ave NE, $18,000.
Louisville
Burrows Justin from Burrows Justin, 214 South St, $2,000.
Daup Michael S & Sell Jenna M from Paxton Robert S, 2124 Hillocke St, $257,000.
Johnson Denita from K Hovnanian at Orchard Park LLC, 3053 Mcintosh Dr NE, $364,990.
K Hovnanian at Heritage Park LLC from Maxsam Investments LLC, 386 Jonagold Dr, $183,000.
K Hovnanian at Heritage Park LLC from Maxsam Investments LLC, 441 Honeycrisp Dr NE, $183,000.
K Hovnanian at Heritage Park LLC from Maxsam Investments LLC, 443 Honeycrisp Dr NE, $183,000.
K Hovnanian at Heritage Park LLC from Maxsam Investments LLC, 445 Honeycrisp Dr NE, $183,000.
Kellams James & Beth from K Hovnanian at Orchard Park LLC, 413 Honeycrisp Dr NE, $247,990.
Lawson Kristi L & Kenneth E from the Standard Company of Ohio LLC, 418 Beechwood St, $188,000.
Ramsey Michelle C from Ramsey Michelle C, 206 South St, $2,000.
Marlboro Township
Moore David & Vicky from Palmer Justin D, 6836 Pinedale St NE, $374,000.
Nimishillen Township
Masalko Manuel F from Brown Ashton & Mckimmie Zoe, 7880 N Nickel Plate St, $335,000.
Myers Beth A from White Jared & Jeremy, 4541 Eastland Ave, $227,000.
Ogg Timonthy & Becher Kristine from Etc 1 Properties LLC, 6970 Reno Dr, $115,000.
Ogg Timonthy & Becher Kristine from Etc 1 Properties LLC, parcel 3300075 Reno Dr NE, $115,000.
Ouimette Curtis & Robin from Simmons James L & Donna R, parcel 3309308 State St NE, $86,000.
Zigler Daniels & Moriah from New Residential Mortgage Loan Trust 2018, 3035 Pinevale Ave NE, $159,600.
Zigler Daniels & Moriah from New Residential Mortgage Loan Trust 2018, parcel 3304289 Pinevale Dr NE, $159,600.
Osnaburg Township
Amstutz Joshua F & Teah from Reinhart Cory L, 271 N Berger Cirs, $231,000.
Paris Township
Lane Kyle L & Cobletz Raine A from Bowersock Kimberly Ann, 2261 Union Ave NE, $155,000.
Lewis Donald R Jr from Barnes Brittani, 610 W Line St, $139,000.
Waltz Freddie L & John A from Waltz Marion Etal, parcel 4100997 Paris Ave SE, $132,250.
Washington Township
Robson Carrie J & Brandon from Robson Carrie J & Main Craig D & Robert, 5045 Beechwood Ave NE, $200,000.
Four commercial properties in downtown Alliance sold for $1 million, according to the latest real estate transfers filed with the Stark County Auditor’s Office.
Carbon Alliance LLC purchased adjacent office buildings at 243 E. Main St. and 245 E. Main St. as well as the commercial building at 500 E. Main St. and the parking lot behind the building on Warehouse Street. The properties were previously owned by Olde Theatre Apartments Limited Partners.
The transfers cover March 23 to March 29.
Alliance
Carbon Alliance LLC from Olde Theatre Apartments Limited Partners, 243 E Main St, $1,000,000.
Carbon Alliance LLC from Olde Theatre Apartments Limited Partners, 245 E Main St, $1,000,000.
Carbon Alliance LLC from Olde Theatre Apartments Limited Partners, 508 Warehouse St, $1,000,000.
Carbon Alliance LLC from Olde Theatre Apartments Limited Partner, 500 E Main St, $1,000,000.
Cuthbertson Ryan from Alliance Homes II LLC, 1305 Elmside St NE, $150,000.
Forman Jason v from Fireside Estates LLC 2740 Series, 721 Garwood St, $45,000.
Jacocks Terence from Taylor Anita & Dixon Stephen & Annese, 1462 S Arch Ave, $42,000.
Keleman Joseph Anthony & Abby Lynn from Trade in Holdings LLC, 2505 Ridgewood Ave, $280,000.
Medel Victor & Maria Evelyn from Fasig Mary J, 994 Federal Ave, $260,000.
Mega Rentals Ltd from Price Matthew, 104 W Columbia St, $32,000.
Noling Jennifer L from Kramer Rosella M, 379 Buckeye Ave, $109,000.
Path of Patriots LLC from Hensley Bruce G & Carol A, 2235 S Linden Ave, $76,900.
Property Renovations of Alliance LLC from Ramser Richard J, 1045 W Cambridge St, $155,000.
Bethlehem Township
Crnic William Rob Jr & Karin from Beam Jason & Lambert-Beam Nicole, 2606 Tanganyika Trl, $13,000.
Hunt Robert A from Mauger Wros Roger B & Carolyn N, 230 C St Nav Vil, $12,500.
Mhca Homes LLC from Catalyst Home Finance LLC, 6000 Beth Ave SW Lot 46, $31,046.
Morris Lisa & Andrew & Finley Kristin & from Springwood Lake Camp Club Property, 2011 Uganda Pkwy, $5,400.
Snow Daniel David Jr from Leglise Debra J, 57 Canal St W, $130,000.
Canal Fulton
Klintworth Brandon & Allison from Schaeffer Janet M, 695 Market St W, $180,000.
Canton
Bautista Rodel & Aurora from K S Yoak Enterprises LLC, 1617 Maple Ave NE, $121,380.
Bowling Scott from Flinner Joanne, parcel 219630 Vine Ave SW, $12,000.
Brennan & Mcnulty Holdings LLC from Canton Property Investors LLC, 1516 Fulton Rd NW, $240,000.
Buckeye Property Investors Inc from US Bank National Association Ttee, 1903 34th St NW, $95,000.
BW P&L Holdings LLC from Weber Benjamin, 2426 16th St NE, $22,640.
Carnes Laura A & Neumann Lawrence E from Bowman Bryan, 3023 6th St SW, $95,000.
Chance Brenda Sue from Bramer David A, 1515 19th St NW, $115,000.
Citibank Na from Parish Michael A & Monica J, 1429 Gibbs Ave NE, $61,969.
Cruz Luis Daniel Gonzalez from Jar Rentals LLC, 2923 12th St NW, $110,000.
Franks Harold from Gray Julia, 2026 2nd St NE, $21,700.
Glick Kendal from Nazz Investment Group USA LLC, parcel 400816 Squirrel Hollow St NE, $13,000.
Graber John from MM Miller Enterprises LLC, 808 Cody CT NW, $70,000.
Guzzetta Mark S from Alspach Byron J, 339 Bellflower Ave NW, $149,000.
Jensen Sandra G from Hemenway Homes LLC, 703 Bellflower Ave SW, $128,000.
K S Yoak Enterprises LLC from Moore Adam, 1407 7th St NW, $50,000.
Mackey Ty from Schmidt Stacey E, 1910 37th St NW, $155,000.
Mason Steven from Mcallister Brock N P, 727 Highland Rd NE, $53,800.
Mason Steven from Mcallister Brock N P, 801 Highland Rd NE, $53,800.
Mason Steven from Mcallister Brock N P, 809 Highland Rd NE, $53,800.
MJ Flips Columbus LLC from White Lorie A Ttee, 2829 10th St SW, $50,000.
Murray Kelly S from Feasel Robin, 949 Bellflower Ave SW, $148,000.
North Star Investment Properties LLC from Multi Family Purchases LLC, 1411 Yale Ave NW, $110,000.
Ross James W & Kieu Diem T from Richards Property Solutions LLC, 1737 Bonnot PL NE, $62,000.
Schumacher Austin & David from Strong Allen B & Schumacher Austin &, 1718 Virginia PL NE, $10,000.
Sommers David J & Meredith from Canton United LLC, 703 15th St NE, $53,000.
Stewart Kelli from Janson Darlene R, 2519 21st St SW, $45,000.
Strong Allen B & Schumacher Austin & from Schumacher James L & Strong Allen B, 1718 Virginia PL NE, $10,000.
Warth Michael from Sinopoli Joseph A, 1501 St Elmo Ave NE, $57,500.
Canton Township
Baer William from Mclean Emma K, 3990 Baum St SE, $164,000.
Groves Christian M from Finley Karen P, 5011 Clardell Ave SW, $122,200.
Independednt Bank from Reed Robert A & Amanda K, 5213 Ridge Ave SE, $50,000.
Independednt Bank from Reed Robert A & Amanda K, parcel 1304783 Wiseland Ave SE, $50,000.
Kirkham Landscaping LLC from Slish Stephanie M, parcel 1300738 Waynesburg Dr SE, $14,000.
Rice Gail M & Bryant Karen L from Mcdermitt Tim A & Cynthia A, 2942 17th St NW, $143,000.
Zander Zachary J & Jessica from Willaman Corey J, 3740 Whipple Ave SW, $180,000.
Jackson Township
BG Custom Homes Inc from Wilkins Tonya R & Thomas L Jr Ttees, 5930 Springlake Rd NW, $160,000.
Brown Ashton from Rivas Eric A & Cassandra N, 6422 Stoneywood Cir NW, $603,000.
Charles Layne Properties LLC from Kinsley Robert L, 5316 East BLVD NW, $233,500.
Helline Jeremy W from Manderine James E, 6774 Palmer Dr NW, $220,000.
Judge James & Brianna K from Barkheimer Realty Ltd, 7345 Celina St NW, $251,100.
K Hovnanian at Heritage Park LLC from A List Land Development LLC, 7042 Heritage Park Ave NW, $152,000.
K Hovnanian at Heritage Park LLC from A List Land Development LLC, 8916 Camden Rd NW, $152,000.
Lehman Aaron J & Emily from Honaker Faith Ttee, 8169 Milmont St NW, $215,000.
Quinn John T & Tiffany from Gabrail Nashat Y Ttee, parcel 1621719 Bertram Ave NW, $200,000.
Reinhart Cory L & Best Reinhart Katianne from Walters Harold E, 3928 Hyatt Ave NW, $271,000.
Rose Patricia from Mast Donald C & Antoinette, 3396 Stillwater Ave NW, $295,000.
Sexton D Stefanie from Schrickel William A, 3749 Old Hickory Ave NW Condo 1a, $320,000.
Slater Kirk G & Susan G from K Hovnanian at Heritage Park LLC, 8924 Camden Rd NW, $102,000.
Veitch Brian from Mauro Philip G & Mary C, 9678 Emerald Brook Cir NW, $320,000.
Lake Township
Frame Brenda & Charles K from Kimball Rodney E & Seaman Sheila, 3399 Oaklynn St NW, $100,100.
Geitgey Donald W Jr & Sue Ann Ttees from Dania Inc, parcel 2000853 Rosewood Ave NW, $25,850.
Goodwin Donald L & Peele Nikole K from Baughman Barbara A, 3396 Smith Kramer St NE, $291,750.
King Church Properties LLC from MGV Properties LLC, 12355 King Church Ave NW, $150,000.
National Inventors Hall of Fame Inc from the Crusader Group LLC, parcel 2014515 Pleasantwood Ave NW, $200,000.
Spencer Kirk L & Machell L from Sommers Grace M, 1852 Midway St NW, $386,000.
Lawrence Township
Richardson-Turnure Jessica L from Gentry Russell G & Melissa Y, 8820 Timberlink Rd NW, $339,000.
Walent Joshua from Heslin Christopher, 8535 Leaver Ave NW, $200,000.
Lexington Township
Kirksey Joan M from Kirksey Joan Et Al, parcel 2900703 Jennings Rd NE, $4,500.
Kirksey Joan M from Kirksey Joan M, parcel 2900703 Jennings Rd NE, $3,000.
Township Homes Ltd from League Alexander Riley, 11361 Homestead Ave NE, $18,000.
Louisville
Burrows Justin from Burrows Justin, 214 South St, $2,000.
Daup Michael S & Sell Jenna M from Paxton Robert S, 2124 Hillocke St, $257,000.
Johnson Denita from K Hovnanian at Orchard Park LLC, 3053 Mcintosh Dr NE, $364,990.
K Hovnanian at Heritage Park LLC from Maxsam Investments LLC, 386 Jonagold Dr, $183,000.
K Hovnanian at Heritage Park LLC from Maxsam Investments LLC, 441 Honeycrisp Dr NE, $183,000.
K Hovnanian at Heritage Park LLC from Maxsam Investments LLC, 443 Honeycrisp Dr NE, $183,000.
K Hovnanian at Heritage Park LLC from Maxsam Investments LLC, 445 Honeycrisp Dr NE, $183,000.
Kellams James & Beth from K Hovnanian at Orchard Park LLC, 413 Honeycrisp Dr NE, $247,990.
Lawson Kristi L & Kenneth E from the Standard Company of Ohio LLC, 418 Beechwood St, $188,000.
Ramsey Michelle C from Ramsey Michelle C, 206 South St, $2,000.
Marlboro Township
Moore David & Vicky from Palmer Justin D, 6836 Pinedale St NE, $374,000.
Massillon
820 State Avenue LLC from Mills Nichole M, 820 State Ave NE, $193,000.
Aaron Corban J from Barkheimer Realty Ltd, 308 12th St NW, $110,000.
Colliflower Ryan J & Melanie K from Margazano Nicholas v, 2144 Priscilla Ave NW, $160,000.
Global Property Solutions LLC from France Mike A, 909 Duncan St SW, $43,000.
Grad Richard from Updike Melody, 51 Rolling Park Dr N, $2,500.
H W Hunter Properties VI LLC from Weller Nathan J, 216 Wales Rd NE, $72,600.
Jones Ashley from JW Masonry LLC, 421 12th St NW, $127,500.
Lutz Kirk & Ellen from Jenkins-Mccallum Amanda L, 2460 Malone Ave SE, $365,000.
Most Jennifer L from NVR Inc A Virginia Corporation, 1792 Heron Creek St NW, $292,055.
Mullen Dominic from Ruegg Lucas A, 1342 Tremont Ave SW, $119,000.
Neo Home Buyers Inc from Destefano John J Jr Rohr Mary E, 33 Woodland Ave SE, $45,000.
NVR Inc from Lockhart A R Development Co, 1805 Heron Creek St NW, $59,000.
Rinker Ronald Christopher from Haley Derrell R & Henzel Linda L, 357 Delaware Ave NE, $143,000.
Rudy Megan Jean from Flood Aydan Michael, 221 Willow Ave NE, $144,000.
Wirth Kayla from Thomas Elisabeth, 166 Rolling Park Dr, $1,000.
Nimishillen Township
Masalko Manuel F from Brown Ashton & Mckimmie Zoe, 7880 N Nickel Plate St, $335,000.
Myers Beth A from White Jared & Jeremy, 4541 Eastland Ave, $227,000.
Ogg Timonthy & Becher Kristine from Etc 1 Properties LLC, 6970 Reno Dr, $115,000.
Ogg Timonthy & Becher Kristine from Etc 1 Properties LLC, parcel 3300075 Reno Dr NE, $115,000.
Ouimette Curtis & Robin from Simmons James L & Donna R, parcel 3309308 State St NE, $86,000.
Zigler Daniels & Moriah from New Residential Mortgage Loan Trust 2018, 3035 Pinevale Ave NE, $159,600.
Zigler Daniels & Moriah from New Residential Mortgage Loan Trust 2018, parcel 3304289 Pinevale Dr NE, $159,600.
North Canton
Alexander Robin v Trustee from Skibbens Richard v & Jean S Rev Trust, 1110 Sunset BLVD SW, $383,600.
Arnold Bradley & Lisa from Clivi Kevin J, 1173 Rosewood Cir SE, $311,400.
Habick Austin M from Hunter Sally Ttee, 1308 Bel Air Dr NW, $150,000.
Halmasy Jacqueline Marie from Stump Jonathan F & Grinder Dawn M, 416 Adena St NE, $115,000.
Howard Jessica Lynn from Blackwell Renovations LLC, 1585 Stayman Ave SW, $332,500.
Maneely Logan Thomas & Repolio Aliana from Coduto David T & Daniel A, 439 Middlesworth Ave SW, $200,000.
Manley Laurel A & Troy D from Hohman Marvin J, 302 Briar Ave NE, $215,000.
Map Service Neo LLC & DJ Gold Properties from Skillern Michael Administrator of, 845 Rose Lane St SW, $144,000.
North Canton Community Improvement from DKHF Properties LLC, 1033 N Main St, $200,000.
Soehnlen Gregory R from Hoberg William L, 518 Wise Ave SE, $240,000.
Osnaburg Township
Amstutz Joshua F & Teah from Reinhart Cory L, 271 N Berger Cirs, $231,000.
Paris Township
Lane Kyle L & Cobletz Raine A from Bowersock Kimberly Ann, 2261 Union Ave NE, $155,000.
Lewis Donald R Jr from Barnes Brittani, 610 W Line St, $139,000.
Waltz Freddie L & John A from Waltz Marion Etal, parcel 4100997 Paris Ave SE, $132,250.
Perry Township
J&J Home Renovation LLC from Mcguire Megan T & Sarah A, 4855 4th St NW, $102,500.
Jenkins-Mccallum Amanda Lea & from TNC Renovations LLC, 1804 Pineknoll Ave NW, $300,000.
Margazano Brehana & Nicholas from Lutz David A, 5614 Darletta St SW, $295,000.
Ream Michael A Jr & Arnold Taylor from Luke Mary J, 4080 Prosway Ave SW, $329,900.
Salapack Kristi L from Changet Gregory A & Darcy L, 2503 List St NW, $240,000.
United States Bargain Hunters LLC from Wigginton Andrew W, 201 Leonard Ave SW, $215,000.
Pike Township
Kope Kathy Coley from Rauschenbach Wayne Edward, 2424 Berkshire Dr SW, $2,800.
Plain Township
Bell Nicholas J & Amy L from Bell Nicholas J & Lori M, 2443 41st St NE, $54,300.
Boylan Janet L & Terry E from Mason Janet L, 7844 Vanderbilt Dr NW, $255,000.
Braham Alexander S from Manley Laurel A & Troy D, 3808 Sanborn Ave NW, $170,000.
Nofer Brian & Felicia M from Mulcahey Jeffrey M & David C & Jacobs, 7395 Brushmore Ave NW, $286,000.
Smith Gregory A & Terri L from Wood Thomas J & Johnson Mark A & Thomas, 1311 Chantilly Cir NE, $789,000.
Smyth Daniel J from Rhodes Roy T Trustee, 3011 Maxine Ave NE, $66,800.
Spring Ridge Inc from Showalter Lindsey R, 4009 Pelham St NE, $184,500.
Steed Mason T & Moeglin Catherine M from Eddinger Alexander M & Allison, 3320 Diamond St NE, $190,500.
Vision Accomplished LLC from the Guy Family Irrevocable Trust, 8202 Hidden Glen Ave NE, $245,000.
Sandy Township
Dalton Wendy M & Wilmer T Albert K & from Cosgrave Laurie A L/E Trump Eleano R L, 6860 Indian Run Ave SE, $13,400.
Jenkins Brennon J & Stacey from Myers Ronald L, 7850 Elson St SE, $174,000.
Morconi Jacob from 123 Meadow Brook LLC, parcel 6600361 Meadow Brook Pkwy, $15,000.
Stryker Patti & Hull Alfred from Map Office Work in Progress, 9450 Muckley Dr SE, $84,900.
Wayne Holmes Properties LLC from Ram Properties Investments LLC, parcel 10018156 Muckley Dr SE, $140,000.
Sugar Creek Township
Cavanaugh Diane E & Curran R from Loretto Kathryn T, 474 Tuscarawas St, $245,000.
Detweiler Sandy D & Miller A Mabel from Sulentich William D Succ Ttee, 330 Park Dr, $217,000.
Detweiler Sandy D & Miller A Mabel from Sulentich William D Succ Ttee, parcel 10014365 Park Dr SE, $217,000.
Hershberger Katlyn R & Amos & Yoder from Troyer Wayne R & Rhonda J, 119 2nd Ave NW, $225,000.
Modarelli Michale Anthony from via Lonnie R II, 292 2nd St SW, $180,000.
Porter Joseph from Ewing Joshua D, 8021 Manchester Ave SW #28, $1,000.
Tuscarawas Township
Jovanovic Michael Aka Mike I & from Jovanovic Michale & Cet Steve N & Cet FR, 1031 Highlander St NW, $5,000.
Washington Township
Robson Carrie J & Brandon from Robson Carrie J & Main Craig D & Robert, 5045 Beechwood Ave NE, $200,000.
A prominent downtown property slated for a 46-story Ritz Carlton Nashville tower has been sold in a foreclosure auction after the developer allegedly stopped making payments to the bank.
R Squared Properties LLC of Washington bought the triangular-shaped 1.2-acre lot at 727 Korean Veterans Boulevard for $35 million on Thursday, according to the deed filed with Davidson County Register’s office.
The property was sold to the “highest bidder for cash” at Metro Nashville Courthouse on Thursday morning, the deed states. The sale price is the same amount the site sold for in March 2020 — $35 million.
R Squared officials did not immediately respond to requests about whether they will continue with development plans for the Ritz hotel.
Seller RC Nashville Development Partners, led by Timothy J. Morris, was sued for defaulting on a $10 million construction loan by Oakworth Capital Bank, the financiers for the original Ritz project. A U.S. Magistrate Judge said on April 1 that the defendants continue to fail to adequately respond to legal filings.
“RC Nashville has not filed an answer,” Judge Barbara D. Holmes wrote. “Although Morris filed a letter on behalf of himself and RC Nashville that could be construed as an answer to the complaint, RC Nashville can only appear in this case through a licensed attorney because it is a limited liability corporation.”
Ritz Carlton Nashville plans stalled shortly after they were announced
Plans announced in 2021 were to build a $585 million hotel and condominium tower filled with upscale design and amenities.
Morris told The Tennessean at the time that he was inspired by the success of Four Seasons Nashville.
“They came in as trailblazers,” Morris said. “They established the fact that people would pay the prices they’re paying for that type of luxuries and that brand and amenities.”
However, trouble surfaced in 2022 when construction was delayed due to financing challenges.
In October 2023, Oakworth Capital Bank filed a lawsuit in U.S. District Court for Middle Tennessee alleging that Morris and his RC Nashville Development Partners failed to make payments on a $10 million line of credit.
In court documents, Morris said he was beset by difficult economic conditions including high inflation and post-Covid supply chain interruptions.
“It seems only fair to a layman like me that (Oakworth Capital Bank) can take the deed in lieu of foreclosure, sell the property, a course of action I would fully support,” Morris wrote the court. “Plaintiff would be made more than 100% whole financially based on the purported value of the property.”
Morris faces numerous lawsuits
Developer Tim Morris has found himself at the center of several lawsuits regarding his business dealings.
Morris is principal of M2 Development Partners and RC Nashville Development Partners, which was also sued for allegedly failing to make payments on a $10 million loan.
In a separate suit, Oakworth Capital also alleges Morris failed to make payments on a $5.3 million loan for a project he is working on in Washington, D.C.
On April 1, U.S. Magistrate Judge Barbara D. Holmes ruled in favor of Oakworth that Morris was in default of his loan payments for that case.
“Although Morris has made some filings in this case, he failed to follow the Court’s instruction in its February 15 order to respond to the motion for entry of default,” Holmes wrote in her order. “Morris’ disregard of the Court’s order justifies entry of default against him.”
In January, real estate development company The Bradley Projects filed a suit against Morris and Patterson Street, LP, alleging the defendants failed to pay back a promissory note totaling $218,750. According to the lawsuit, the payment was due in full Dec. 31, 2023.
M2, Morris and RC Nashville are listed as defendants in another suit filed in December by office building Fifth+ Broadway in downtown Nashville. According to the complaint, M2 and RC, of which Morris is the guarantor, failed to make rent payments to the office owner. The plaintiff is seeking $184,955.46 plus additional damages and interest to be determined at trial.
The owner of the Idea Foundry and the newly developed Gravity Park is seeking to sell both properties, adjacent to one another in Franklinton.
The properties, listed by NAI Ohio Equities for $9.5 million, are owned by a corporation governed by Kaufman Development, creator of the Gravity office, residential and retail development immediately to the north.
Kaufman bought the Idea Foundry two years ago with plans to update and enliven the 50,000-square-foot “makerspace,” occupied by manufacturing facilities, offices, event space and workshops.
The Idea Foundry is being sold with Gravity Experience Park, sort of an adult playground that Kaufman developed last year on a parking lot next to the Idea Foundry. The park opened in November with an ice rink with bumper cars, two heated tents for drinks, places to congregate and a grand entrance made of stacked shipping containers. The activities were expected to expand this summer with a pickleball court.
The park, which is managed by Land-Grant Brewing Co., will continue as usual, a Kaufman representative said.
Brett Kaufman, the CEO of Kaufman Development, didn’t say why he was selling the properties so soon after investing in them.
“We feel we’ve been good stewards of this property and enhanced its value,” he said in an emailed statement.
“Now, we’re going to focus on our core business. Franklinton remains an incredible, dynamic neighborhood, and we look forward to seeing how the next person or group will carry this space into the future.”
More:Junto hotel hopes to be the heart of Franklinton’s $250 million Peninsula development
The Idea Foundry, a former factory built in 1923, will continue its mission of serving as an incubator and workplace for small manufacturers, artists, educators and others, said Idea Foundry Founder Alex Bandar.
“The real estate and the business have always been separate, so The Idea Foundry continues operating as usual,” Bandar said in an emailed statement “Kaufman has been a supportive partner that has advanced us forward, and we look forward to welcoming a new partner, as we continue being excited about our future.”
NAI Equities is listing the properties as an opportunity for investors, developers or owner users.
“The expansive creative space includes a mezzanine level and basement, with the potential to activate the rooftop area,” according to the listing. “The property has a versatile and unique layout with high ceilings and a modern, open floor plan that is move-in ready with unlimited possibilities.”
NAI’s flyer on the property includes conceptual renderings of the building as a bar and restaurant with an expansive rooftop patio.
The Idea Foundry moved into the building a decade ago, after it had been owned by the motorcycle dealer A.D. Farrow.
“We brokered the sale when it was A.D. Farrow, so it’s exciting to see the property come full circle,” said Peter Merkle, who is listing the property with Bastian Gehrer for NAI.
jweiker@dispatch.com
@JimWeiker
Though many say the suburban office real estate market is suffering, a new survey finds three Central Jersey areas among the country’s 100 priciest office markets in 2023.On the list, compiled by PropertyShark based on the per square foot price data, were Interstate 287 South, ranked at 22, Bridgewater, at 58, and Cranford at 72.
Cranford also placed second in the amount of office space transactions. Sales in the township last year totaled approximately 2.2 million square feet of office space.
The I-287 South market includes East Brunswick, Edison, Highland Park, Metuchen, Middlesex, New Brunswick, North Brunswick, Piscataway and the Somerset section of Franklin.
Three other New Jersey areas also found their way onto the list. They were North Bergen County at 73, Parsippany at 91 and Trenton at 99.
State-of-the-art office properties in high-demand markets remain well-positioned to weather any oncoming uncertainties, according to PropertyShark,
Some emerging markets may continue to experience a lift in life sciences and medical office space.
Doug Ressler, manager of Business Intelligence at Yardi Matrix, said the six New Jersey markets made the list because of their “greater density location to coastal gateway metropolitan hubs,” as well as easy access to land, sea and air.
NJ’s priciest office space markets
I-287 South
National Rank: 22
Price Per Square Foot: $238
Total Sales: $90,590,000
Total Square Feet Sold: 509,977
Number of Sales: 4
Bridgewater
National Rank: 58
Price Per Square Foot: $157
Total Sales: $39,432,563
Total Square Feet Sold: 370,995
Number of Sales: 3
More:Route 22 medical building in Bridgewater sold for $10.5 million
Cranford
National Rank: 72
Price Per Square Foot: $133
Total Sales: $212,752,549
Total Square Feet Sold: 2,184,283
Number of Sales: 6
North Bergen County
National Rank: 73
Price Per Square Foot: $130
Total Sales: $37,750,750
Total Square Feet Sold: 306,389
Number of Sales: 4
More:Pfizer’s 150-acre campus in Somerset County targeted for redevelopment. Here’s the plan
Parsippany
National Rank: 91
Price Per Square Foot: $100
Total Sales: $75,845,390
Total Square Feet Sold: 813,167
Number of Sales: 4
Trenton
National Rank: 99
Price Per Square Foot: $89
Total Sales: $26,250,000
Total Square Feet Sold: 378,822
Number of Sales: 4
Source: CommercialEdge
Brad Wadlow is a staff writer for MyCentralJersey.com
Though the owner of Kinship Brewery told the Des Moines Register in November he had no plan to sell the foreclosed business in Waukee, a commercial real estate firm is now listing the building and land for sale.
Lincoln Saving Bank foreclosed on Kinship’s Waukee taproom at 255 Sunrise Dr. N.W. in October, saying the brewery and the limited liability company that owns the property, Sunrise Drive Acquisitions, had defaulted on loans of $3.5 million and $2.4 million and that Kinship had failed to keep up payments on an operating loan with a $44,898 balance.
Owner Zack Dobeck insisted in an interview the following month that there was “a path forward” for the brewery, which opened in 2021, and at the time he still was operating the taproom with attenuated hours. In December, however, amid complaints by employees that they hadn’t been paid, Kinship closed the taproom, posting on Facebook that it would reopen May 1.
Court records show that on March 21, Kinship, Sunrise Drive Acquisitions, Lincoln Savings Bank and Dobeck told a Dallas County judge they had agreed to a settlement in the foreclosure case, but needed until April 4 to finalize the terms. As first reported by the Des Moines Business Record, the property is now on the market.
Riley Hogan, a senior vice president at West Des Moines commercial real estate firm CBRE, said Wednesday he is marketing the property on behalf of Kinship’s investors. Dobeck did not respond to a request for comment.
The listing says the 12,180-square-foot building sits on 5.95 acres with a 156-space parking lot. There is a half-acre dog park, a large patio and a beer production facility with $1,5 million in equipment and a 40,000-barrel annual capacity. In addition, Kinship for a period in 2023 also was hosting a fine-dining restaurant.
Other breweries inquiring about property, agent says
Hogan said several breweries, both in Iowa and elsewhere, have inquired about the facility. Likely its best use would be as a brewery because it is ready to start making beer immediately, he said. In fact, Kinship brews continued to be on draft at some local bars as recently as last month.
But Hogan said the building also could lend itself to other uses, such as a bowling alley with a restaurant. And he said there is enough room on the site for a separate retail or office building, Hogan said.
“We could have a business owner buy the building and build their office building there,” Hogan said. “Build an apartment building there. Build condo units. There’s so many opportunities out there that present itself that are different in today’s world than it was five years ago. This building plays right into those expanding categories.”
The sales listing does not specify an asking price, and Hogan said it is negotiable. The Dallas County Property Appraiser lists the building’s assessed value at $2.4 million, but Dobeck in November said a private appraiser had valued it at $5.3 million.
Brewery sits amid booming development
Dobeck in 2020 said he had moved to the Des Moines metro with his wife, an Iowa native, from Atlanta in 2018 with opening a brewery in mind.
Areas surrounding Kinship have boomed since Kinship opened. Waukee is among the fastest-growing cities in Iowa, and single-family and multi-family housing developments are being built along the Raccoon River Valley Trail, which is connected to property. Waukee Northwest High School sits about a half mile away.
More:How will a 9-mile Des Moines bike trail open a world of possibilities?
Hogan described the project as “slightly ahead of its time,” and said that with the infrastructure work that has gone into the area since Kinship opened, it is primed for another owner to turn it into an asset for Waukee.
More:Get your steps in and get paid: Des Moines suburbs looking for special census workers
“The landscape out there has changed so much over the last 24 months, 12 months,” Hogan said. “The residential rooftop growth is feeding a bunch of demand for new retail. So I think we’re in a good position.”
Philip Joens covers retail, real estate and RAGBRAI for the Des Moines Register. He can be reached at 515-284-8184, pjoens@registermedia.com or on Twitter @Philip_Joens.
The closed University Club on downtown’s east side is being sold to a Northwestern Mutual affiliate.
The company isn’t yet disclosing specific plans for the six-story, 58,125-square-foot building, 924 E. Wells St., which was constructed in 1926.
“As an active real estate investor, Northwestern Mutual is a steward of our downtown Milwaukee campus and neighboring area and the opportunity to invest in the University Club property allows us to ensure the building continues to serve as a prominent, thriving downtown hub for the Milwaukee community,” said a company statement issued Monday.
“We plan to share Northwestern Mutual’s intended use for the building in the near future,” added Julia Fennelly, senior director of strategic communications and corporate reputation.
Terms of the pending sale, first reported by Urban Milwaukee, weren’t disclosed. The property’s assessed value is $2.7 million, according to city records.
University Club in December closed its downtown operations due to declining membership, maintenance issues and growing restaurant competition.
University Club continues to operate its golf course, tennis courts and swimming pool at 7401 N. 43rd St., Brown Deer.
The club’s downtown property is just northeast of where Northwestern Mutual is redeveloping an 18-story office building, 818 E. Mason St., to help house around 2,000 employees relocating from the company’s Franklin operations. That project is to be completed in early 2027.
Tom Daykin can be emailed at tdaykin@jrn.com and followed on Instagram, X and Facebook.
LANSING — The area has a number of commercial properties for sale, some that seem to have been on the market for long periods without a buyer — despite seemingly having a lot to offer prospective buyers or tenants.
Real estate brokers say there are many reasons a piece of property can sit on the market, even if it makes those who own the property and passersby wonder what’s taking so long.
In 2019, when the Centennial Group put a 70-year-old former bus station on South Washington Avenue, its headquarters for nearly two decades, up for sale, company CEO Salvatore Durso thought a buyer would come along quickly, but that hasn’t been the case.
The insurance company, which moved to a building down the street, invested about $1.2 million in renovating the property at 511 S. Washington Ave., which had become an eyesore by the late 1990s, with broken windows and people with nowhere else to go frequently staying the night inside.
“It was a classic urban blight when we bought it,” Durso said.
Centennial Group brought the building back to life, restoring the original terrazzo tile floors and enclosing a portion of the structure where buses would park to pick up riders.
“We felt pretty strongly that we would be able to sell the property even though we weren’t using all of it,” Durso said.
Then the COVID-19 pandemic hit, changing the landscape in downtown Lansing. Downtown companies sent their workers home to work remotely. Today, filling vacant office space is still a struggle, and Centennial Group’s former home is still for sale.
It’s one of several large, visible commercial properties in the Lansing area that have been for sale for more than a year. Here’s a closer look at five of them and how real estate brokers see them being returned to use.
511 S. Washington Ave., Lansing
Centennial Group’s 10,665-square-foot, two-story building on South Washington Avenue has been on the market for four years. It has high ceilings, a front reception and lobby area, conference and training rooms, lots of open space and more than 30 parking spaces on the property, the property’s broker said.
There are pieces of history in the building’s basement, too, including signage and seating from when it was a bus station.
The property, priced at just over $1.19 million, has character, said Woodworth Commerical’s Todd Kosta, who represents the listing.
“You would never see these floors or this beautiful staircase today,” he said recently during a tour of the building. “We’ve had some people look at this and talk about restaurants or something like that.”
But Kosta said it’s likely it will be utilized as office space.
“We’re starting to see a lot of people coming back to the office,” he said.
3992 Coleman Road, East Lansing
Owner Mike Howard said the 1,830-square-foot former Tim Hortons at the corner of Coleman and Chandler roads is perfectly positioned to serve a fast-casual restaurant.
The property has been vacant for five years and on the market to buy or lease for about a year. Howard, a real estate agent with Colliers, bought it last spring, and has primarily marketed it to national companies.
Howard is in the process of working through a pending lease with a “national pizza chain,” though he declined to name them because the paperwork hasn’t been finalized. The business, which could open in six to 12 months, will utilize a pickup window on the building, he said.
“I’ve got some work to do on the outside of the building,” Howard said.
172 E. Edgewood Blvd., Lansing
The 5,286-square-foot former Hooters restaurant off East Edgewood Boulevard has been vacant since the chain closed the location in July 2019.
Kosta has been representing the property, on the market to lease, for six months. It sits on over an acre of land near Celebration Cinema Lansing & IMAX and Texas Roadhouse.
The property’s owner would prefer to lease it, but would entertain offers to buy it, though there is no price listed, Kosta said.
The building already has kitchen equipment, including a large oven hood, multiple fryers, a grill, a walk-in freezer and a refrigerator, but Kosta said whoever leases or buys it would likely want to make it their own.
“It’s going to take a substantial investment for somebody to do that,” he said. “I have seen interest, not from the regional or national restaurateurs we would like. We got a lot more interest from local mom-and-pop operators, which just makes it that much harder of a business model for them to come in there and do the kind of revenue that’s needed.”
2006 W. Willow St., Lansing
The nearly 7,000-square-foot building on West Willow Street has been vacant and on the market since late 2021 when DeLuca’s Restaurant closed its doors after more than 60 years of business. The property is listed for $649,900.
It remains for sale, despite having quite a lot to offer prospective buyers, said Gino Baldino, a real estate agent with NAI Mid-Michigan, which has represented the property for just over a year. Whoever buys it will get all the kitchen equipment, ovens and seating that is still inside, the restaurant’s liquor license, and ample parking on nearly an acre and a half.
“It’s a great building,” Baldino said. “The owners still maintain it very, very well. It is basically ready to go.”
Over the years, agents have shown the property to several prospective buyers, he said.
“I get inquiries,” he said. “Sometimes they go in spurts. Sometimes I get two or three calls in a week and sometimes, for a couple of weeks, I don’t get a call.”
Most of the people he’s shown the property to were considering opening their own restaurant, Baldino said.
809 E. Michigan Ave., Lansing
The nearly 15,000-square-foot building on East Michigan Avenue where Jon Anthony Florist has operated for at least 50 years sits on just over an acre and has over 200 feet of street frontage.
The property has been on the market for two years, listed for $1.6 million, but the flower shop, which dates back to the 1940s, still operates there. When the property sells, the flower business won’t close. It will likely move to a new location, said Pamela Sage.
Sage’s parents, and the founders of the flower shop, John and Harriet Anthony, passed away in the last five years.
“I’m the executor of their estate,” Sage said. “So we need to sell the property and settle with the rest of the inheritors.”
The decision to sell the property was emotional, she said.
“It was so much of my parents’ life. They absolutely loved their business. My mother worked there until she was 96,” she said.
Kosta, who is representing the property, said it’s been marketed to national companies, including restaurant groups.
“This property really just sets up well for redeveloping,” he said. “It’s an older building. I don’t think somebody will reuse the building, but to come in there and demolish it, you have a really good site. This has a lot of potential being right on Michigan Avenue.”
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Contact Reporter Rachel Greco at rgreco@lsj.com. Follow her on X @GrecoatLSJ .
Two commercial properties in Jackson Township have sold for more than $1 million, according to the latest real estate transfers filed with the Stark County Auditor’s Office.
NSA 110 v JV Po LLC purchased both 4820 Frank Ave. NW and 5920 Highline Ave. NW from NSA Property Holdings LLC for $1.75 million and $1.42 million, respectively.
The properties are home to SecurCare Self Storage.
The transfers cover Feb. 10 to Feb. 16.
Bethlehem Township
Double Vision Properties LLC from Mullet Kevin Ray & Doty Jessica Ann, parcel 10018053 Dolphin St SW, $135,000.
Stutzman Homer Lee & Diane M from Mullet Kevin Ray & Doty Jessica Ann, 9711 Dolphin St SW, $250,000.
Canal Fulton
Cole Kathryn M from Johnson Valerie J Etal, 308 Locust St N, $64,000.
Durkee Dawn M & Raymund T from Ley Frederick T, parcel 9500654 Market St W, $18,900.
Jackson Township
Bailey Kyle M & Jenna K from SMB Investments LLC, 8504 Morrilton Cir NW, $217,500.
Ben Grisez Homes Inc from Leecrest Holdings LLC, 3452 Joyce Ave NW, $150,000.
Bodis Curtis L & Taylor E from Wojcik Pamela R, 4017 Bramshaw Rd NW, $435,000.
Dewees Theresa M Ttee from Lepar Nancy J, 6471 Bertram Ave NW, $195,000.
Gesiotto James P II from Schroeter Thomas P & Kimberlee S Trustee, 4917 Waltham Crossing Ave NW, $510,000.
Hammack Jeanine from Valot Daniel A & Eitelman Mary S, 4964 Searls St NW, $299,000.
JMP 2565 LLC from Kutcher-Kokopf Properties LLC, 7600 Freedom Ave NW, $490,000.
Karas Arthur & Hower Dana from K Hovnanian at Heritage Park LLC, 6898 Heritage Park Ave NW, $522,010.
Lopez Andrew S from Wren Holdings LLC, 6969 Wren Ave NW, $215,000.
Nsa 110 v JV Po LLC from Nsa Property Holdings LLC, 4820 Frank Ave NW, $1,752,800.
Nsa 110 v JV Po LLC from Nsa Property Holdings LLC, 5920 Highline Ave NW, $1,428,000.
Pontius James F & Carolyn D from Millham Cindy J, 6249 Swan Lake Cir NW, $529,900.
Ramm Home Buyers LLC from Miller Real Estate II Ltd, 2980 Brunnerdale Ave NW, $155,000.
Screamer Properties LLC from Mcnamara Catherine A, 2404 Glenmont Rd NW, $181,000.
Survey Eagle Property Inspections LLC from Mcclure Max T and Pamela K, 2870 Erie Ave NW, $135,000.
Wooten Dustin from Hall Kellie S, 5849 Walbrook St NW, $274,000.
Lawrence Township
Best Stephen & Ashley from Clark Veronica N, 10705 Scatell St NW, $267,500.
Duong Johnhoa v & Truong Tu Cam from John O Clay Explorations Inc, parcel 10018034 Patterson St NW, $114,500.
Lovaty Meghan Lynn & John Steven from John O Clay Explorations Inc, parcel 10018033 Patterson St NW, $110,000.
Sterling Ivy Lynn Ttee from Grisez Benjamin & Juliana, parcel 10017178 Crystal Lake Ave NW, $825,000.
Massillon
Bird James E III from Schaer Maleri J, 741 1st St NE, $74,000.
Cat Care LLC from Gardiner Linda J, 61 Woodland Ave SE, $65,500.
Elias Carlos Jr. & Valentine Sophia & from Chris & Goldie LLC, 1529 Walnut Rd SW, $130,000.
FLG Sippo Reserves LLC from Rohrer Development LLC, 4579 Sippo Reserves Dr NW, $435,000.
FLG Sippo Reserves LLC from Rohrer Development LLC, 4587 Sippo Reserves Dr NW, $435,000.
FLG Sippo Reserves LLC from Rohrer Development LLC, 4601 Sippo Reserves Dr NW, $435,000.
FLG Sippo Reserves LLC from Rohrer Development LLC, parcel 504774 Woodstone Ave NW, $435,000.
FLG Sippo Reserves LLC from Rohrer Development LLC, parcel 504818 Manchester Ave NW, $435,000.
Gardner Mark Allen from Boughman Russell L & Kimberly A, 1000 22nd St SW, $225,000.
Joliet Wendy from Pinchot Diane, 1703 Springhaven Cir NE, $238,000.
Kraftsmark Properties LLC from 504 West 5th Street LLC, 504 5th St NW, $185,000.
Lidderdale Natesha M & Joshua S from Habitat for Humanity East Central Ohio, 657 Young Ave SE, $162,500.
Maymoun Rana S from NVR Inc A Virginia Corporation, 3490 Yellow Creek Ave NW, $282,705.
Moll Enterprises LLC from Harper Kim C, 742 Dewalt St SE, $52,000.
NVR Inc A Virginia Corporation DBA Ryan from Lockhart A R Development Co, 1748 Heron Creek St NW, $59,000.
Pruett Micah E & Cheresh E from Basiewicz Michael R, parcel 617280 Forest Ave SE, $120,000.
Pruitt Micah E & Cheresh E from Basiewicz Michael R, 1108 Forest Ave SE, $120,000.
Reinhart Commercial Properties LLC from Limbach Terrence J Trustee, 232 6th St NE, $55,000.
Tepus Charles Jr & Juanita from Getz III Frank E & Cammel Lisa M, 2205 Eastwood Ave NE, $330,000.
Wasilewski Matthew P & Magena from Hymax Holdings LLC, 2 State Ave NE, $146,000.
Weber Monica L from Sanford Barbara A, 1417 Pebble Chase Cir NE, $227,500.
Woodson Carlos from Brewer John R & Dona M, 189 Mccadden Ave NE, $105,000.
Perry Township
Crum Dustin A & Copen Heather F from Paro Anthony S, 6986 Navarre Rd SW, $112,900.
Flip-A-Dee-Doo-Dah LLC & Marino Anthony from Oates John L, 629 Meadowridge Ave NW, $137,500.
Mcmaster Megan from Jenkins Karen A, 4918 9th St NW, $213,000.
Midfirst Bank from Richardson Lorrainee, 3282 Persia Cir SW, $76,525.
Schneider William C II & Render Natalie from Cruz Guadelupe M, 2390 Brooklyn Ave SW, $147,000.
Schuler Christopher J from Kmi Investments LLC, 4623 12th St NW, $143,000.
Sugar Creek Township
Devoll Mitchell S & Kaylee B from Keim Marion & Linda, 11504 Portland Ave SW, $120,000.
Kovacs Brett from Warstler Edward L & Fair Mona J &, 11829 Mount Eaton St SW, $299,900.
Tuscarawas Township
Pfister Trevor & Taylor from Pfister Robert C Jr, 1375 Deermont Ave SW, $209,000.
Huntington Bank is selling three Downtown buildings, two of them historic, as part of a plan to redevelop the properties.
The bank announced Thursday that it is partnering with the Columbus Downtown Development Corp. to find buyers for the buildings who will overhaul them.
“Spurring new uses for these buildings signifies Huntington’s commitment to creating a more vibrant, livable city,” Steve Steinour, Huntington president and CEO, said in a news release.
“Each of these buildings holds a rich history in downtown Columbus, and we believe redevelopment is key to ensure downtown Columbus thrives for years to come. As the hometown bank, we will maintain our large presence at Huntington Center.”
Huntington plans to seek requests for proposals from developers for the three buildings:
- Huntington Bank Building, 17 S. High St., a 12-story building. The oldest part of the building, called the Harrison Building, was built in 1903-1905, and was expanded in 1925 to include the bank’s striking main lobby.
- The Wyandotte Building at 21 W. Broad St., an 11-story building completed in 1898 and designed by famed Chicago architect Daniel Burnham. The building, on the National Register of Historic Places, is considered the first skyscraper in Columbus.
- The Huntington Plaza building at 37 W. Broad St., a 12-story building erected in 1967 in what was then a modern concrete style.
“Certainly the Wyandotte Building is wonderful,” said Susan Keeny, preservation services director for Columbus Landmarks preservation association. “Whenever a building is up for sale, we always worry. The best we hope for is that a preservation-minded developer acquires it.”
In a news release, Huntington said the 200 bank employees in the three buildings will be relocated to one of the bank’s other buildings. Huntington said it will maintain a branch Downtown.
The bank did not say how much of the buildings are occupied or whether it would vacate the buildings before they are sold.
Huntington also did not say why it is taking this step now beyond noting that it is selling the buildings “as part of a broader national push toward revitalizing downtown office buildings to suit modern needs,” according to the news release.
“We are honored to work with Huntington to provide input and perspective into the (requests for proposals) process and ensure we find the ideal future owners of these buildings,” Greg Davies, CEO of the CDDC, said in the release. “These are premier locations offering unique opportunities for mixed-use spaces, such as retail and housing benefitting both Downtown residents and workers.”
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Huntington’s decision to sell reflects the continued challenges of filling office buildings, many of which have yet to recover from 2020, when COVID sent workers home.
About 23% of central Ohio office space was vacant at the end of 2023, according to the commercial real-estate company CBRE. In downtown Columbus, about 21% of office space is empty, including space that is being sublet. Despite an uptick in office leases at the end of last year, Downtown ended 2023 with 277,794 less square feet of occupied offices than in the previous year, according to CBRE.
The most obvious redevelopment possibility for the Huntington buildings would be residences. Two Downtown high-rises are already being totally or partially converted into apartments: the former PNC building (now called Preston Centre) at 155 E. Broad St., and the Continental Centre building at 150 E. Gay St.
In addition, owners have submitted plans to convert nearly all of the Chase Tower, at 100 E. Broad St., into apartments.
“Certainly this is a trend we’re seeing across growing metropolitan downtowns, where there is selective redevelopment of what I consider to be prime real estate,” said Michael Copella, senior managing director of the Columbus office of CBRE. “This is exactly what cities should be doing, to identify buildings for reuse.”
While redevelopment would most likely focus on residences, Copella said other uses, such as hotels or retail/restaurants could be in the mix.
“There’s a need for hospitality Downtown, and when you look at other successful mixed-use developments Downtown, they have hospitality, like the Junto or the LeVeque,” Copella added. “I do look at this move as a positive. It’s very rare to get Downtown sites, especially with such history and character, in proximity to other great developments.”
Amy Taylor, president of the CDDC, noted that demand for Downtown apartments remains strong. The city’s Downtown Strategic Plan calls for 40,000 people to live Downtown by 2040, up from about 12,000 now.
“The strategic plan prioritized increasing residential, so we know there’s a market there, but developers will review the art of the possible given the specific nature of each building,” Taylor said.
jweiker@dispatch.com
@JimWeiker