Content about Ohio

July 22, 2014

Michael Weiss, who started with Express when it was an eight-store operation, will retire as CEO of the 600 plus-store specialty apparel company when its fiscal year ends on January 30, 2015.

Columbus, Ohio -- Michael Weiss, who started with Express when it was an eight-store operation, will retire as CEO of the 600 plus-store specialty apparel company when its fiscal year ends on January 30, 2015.

He will be succeeded by David Kornberg, 46, president, who will assume the added role of chief executive. Weiss, 73, will remain with Express as nonexecutive chairman of the board.

July 2, 2014

Hornig Capital Partners, a privately held New York City-based investment company, has combined in a joint venture with Hutensky Capital Partners of Hartford, Conn. to acquire the Golden Gate Shopping Center in Mayfield Heights, Ohio, in the greater Cleveland region.

NEW YORK — Hornig Capital Partners, a privately held New York City-based investment company, has combined in a joint venture with Hutensky Capital Partners of Hartford, Conn. to acquire the Golden Gate Shopping Center in Mayfield Heights, Ohio, in the greater Cleveland region. The joint venture purchased the property from Forest City Enterprises for $47,050,000, together with B&D Holdings, making it one of the largest single asset retail deals in the region during the past 24 months.

July 2, 2014

Hornig Capital Partners, a privately held New York City-based investment company, has combined in a joint venture with Hutensky Capital Partners of Hartford, Conn. to acquire the Golden Gate Shopping Center in Mayfield Heights, Ohio, in the greater Cleveland region.

NEW YORK — Hornig Capital Partners, a privately held New York City-based investment company, has combined in a joint venture with Hutensky Capital Partners of Hartford, Conn. to acquire the Golden Gate Shopping Center in Mayfield Heights, Ohio, in the greater Cleveland region. The joint venture purchased the property from Forest City Enterprises for $47,050,000, together with B&D Holdings, making it one of the largest single asset retail deals in the region during the past 24 months.

June 27, 2014

Casto has completed the redevelopment of Sawmill Square shopping center in the Dublin/NW Columbus area of Central Ohio.

Columbus, Ohio — Casto has completed the redevelopment of Sawmill Square shopping center in the Dublin/NW Columbus area of Central Ohio. The redevelopment included the opening of a new Wal-Mart Supercenter.

The center has also added a McAlister’s Deli, the first in Central Ohio. McAlister will join other new tenants, Sally Beauty and GameStop, as well as the existing line-up of retailers including Z Salon, The UPS Store, Thai Orchid, Huntington Bank, Skyline Chili, Burger King, Goodyear and PNC.

 

 

June 27, 2014

Casto has completed the redevelopment of Sawmill Square shopping center in the Dublin/NW Columbus area of Central Ohio.

Columbus, Ohio — Casto has completed the redevelopment of Sawmill Square shopping center in the Dublin/NW Columbus area of Central Ohio. The redevelopment included the opening of a new Wal-Mart Supercenter.

The center has also added a McAlister’s Deli, the first in Central Ohio. McAlister will join other new tenants, Sally Beauty and GameStop, as well as the existing line-up of retailers including Z Salon, The UPS Store, Thai Orchid, Huntington Bank, Skyline Chili, Burger King, Goodyear and PNC.

 

 

June 25, 2014

With buzz phrases like “omnichannel” and “customer disruption” dominating the retail conversation, landlords and tenants attending RECon 2014 in Las Vegas last May made it their mission to ensure that brick-and-mortar remains relevant. ­

June 24, 2014

Chipotle Mexican Grill will debut at the Ohio Valley Mall in St. Clairsville, Ohio, in November. It will be the first Chipotle in the Ohio Valley region.

Youngstown, Ohio — Chipotle Mexican Grill will debut at the Ohio Valley Mall in St. Clairsville, Ohio, in November. It will be the first Chipotle in the Ohio Valley region. The restaurant’s 2,195-sq.-ft. space is in a building currently undergoing renovation. Two other new merchants, to be announced in the near future, will join Chipotle in the building.

Cafaro affiliated companies own and manage the recently renovated Ohio Valley Mall.

 

June 24, 2014

Chipotle Mexican Grill will debut at the Ohio Valley Mall in St. Clairsville, Ohio, in November. It will be the first Chipotle in the Ohio Valley region.

Youngstown, Ohio — Chipotle Mexican Grill will debut at the Ohio Valley Mall in St. Clairsville, Ohio, in November. It will be the first Chipotle in the Ohio Valley region. The restaurant’s 2,195-sq.-ft. space is in a building currently undergoing renovation. Two other new merchants, to be announced in the near future, will join Chipotle in the building.

Cafaro affiliated companies own and manage the recently renovated Ohio Valley Mall.

 

June 24, 2014

Understand the assets covered by your leases: Taken together, leases are more than just one of a chain’s largest costs — they are the largest fixed expense, and they are fixed for the long term. As a rule, individual leases average seven to 10 years.

“Understanding that is critical,” said Michael P. Glimcher, chairman and CEO, Glimcher Realty Trust, Columbus, Ohio. “For a cost so large, you should have a strong knowledge about the assets covered by your leases.”

June 13, 2014

Express Inc. confirmed that it has received a letter from Sycamore Partners, which has a 9.9% stake in the retailer, indicating that the private equity firm is interested in acquiring the company.

Columbus, Ohio — Express Inc. confirmed that it has received a letter from Sycamore Partners, which has a 9.9% stake in the retailer, indicating that the private equity firm is interested in acquiring the company. In response, Express adopted a one-year “poison pill” shareholder rights plan that would double its shares of common stock in the event any stockholder acquires 10% or more of the company.

June 12, 2014

DDR Corp. and an affiliate of Blackstone Real Estate Partners VII have announced the formation of a third joint venture to acquire 76 shopping centers currently owned by American Realty Capital Properties, Inc.

Beachwood, Ohio — DDR Corp. and an affiliate of Blackstone Real Estate Partners VII have announced the formation of a third joint venture to acquire 76 shopping centers currently owned by American Realty Capital Properties, Inc.

The joint venture will acquire the portfolio in a transaction valued at $1.975 billion, including assumed debt of $461 million and approximately $800 million of new financings.  

June 12, 2014

Kroger Co. is reportedly planning to build a $250 million distribution center in the suburban Atlanta area.

Cincinnati — Kroger Co. is reportedly planning to build a $250 million distribution center in the suburban Atlanta area. According to the Cincinnati Business Courier, Kroger will open the 1 million-sq.-ft. facility in the suburb of Forest Park, on the site of the former Fort Gillem army base by September 2015.

The distribution center will open with 700 to 900 skilled workers, and eventually employ about 1,500 people. Kroger declined to comment on the report.

June 10, 2014

Baker Katz has sold the 11,438-sq.-ft. Cleveland Shopping Center in Cleveland, Texas. Baker Katz facilitated the transaction with a local investor. Financial details remain private.

Cleveland, Texas — Baker Katz has sold the 11,438-sq.-ft. Cleveland Shopping Center in Cleveland, Texas. Baker Katz facilitated the transaction with a local investor. Financial details remain private.

June 6, 2014

Lids Sports Group is acquiring Cardboard Heroes, a licensed sports apparel, headwear and novelty retailer headquartered in Dayton, Ohio. The acquisition consists of 19 Cardboard Heroes stores in Ohio and Kentucky, which include four Buckeye Room locations that specialize in Ohio State University sports merchandise, as well as the e-commerce websites cheroes.com and buckeyeroom.com.

Indianapolis — Lids Sports Group is acquiring Cardboard Heroes, a licensed sports apparel, headwear and novelty retailer headquartered in Dayton, Ohio. The acquisition consists of 19 Cardboard Heroes stores in Ohio and Kentucky, which include four Buckeye Room locations that specialize in Ohio State University sports merchandise, as well as the e-commerce websites cheroes.com and buckeyeroom.com.

June 6, 2014

Lids Sports Group is acquiring Cardboard Heroes, a licensed sports apparel, headwear and novelty retailer headquartered in Dayton, Ohio. The acquisition consists of 19 Cardboard Heroes stores in Ohio and Kentucky, which include four Buckeye Room locations that specialize in Ohio State University sports merchandise, as well as the e-commerce websites cheroes.com and buckeyeroom.com.

Indianapolis — Lids Sports Group is acquiring Cardboard Heroes, a licensed sports apparel, headwear and novelty retailer headquartered in Dayton, Ohio. The acquisition consists of 19 Cardboard Heroes stores in Ohio and Kentucky, which include four Buckeye Room locations that specialize in Ohio State University sports merchandise, as well as the e-commerce websites cheroes.com and buckeyeroom.com.

June 6, 2014

Phillips Edison & Co. has appointed Robyn Capuano Hays senior leasing director for The Shoppes at Parma, a $70 million redevelopment of the former Parmatown Mall, currently underway in Parma, Ohio, not far from Cleveland. The project includes an enclosed shopping mall, power center, strip center, outparcels, restaurants, and office space.

Cincinnati, Ohio — Phillips Edison & Co. has appointed Robyn Capuano Hays senior leasing director for The Shoppes at Parma, a $70 million redevelopment of the former Parmatown Mall, currently underway in Parma, Ohio, not far from Cleveland. The project includes an enclosed shopping mall, power center, strip center, outparcels, restaurants, and office space.

June 6, 2014

Phillips Edison & Co. has appointed Robyn Capuano Hays senior leasing director for The Shoppes at Parma, a $70 million redevelopment of the former Parmatown Mall, currently underway in Parma, Ohio, not far from Cleveland. The project includes an enclosed shopping mall, power center, strip center, outparcels, restaurants, and office space.

Cincinnati, Ohio — Phillips Edison & Co. has appointed Robyn Capuano Hays senior leasing director for The Shoppes at Parma, a $70 million redevelopment of the former Parmatown Mall, currently underway in Parma, Ohio, not far from Cleveland. The project includes an enclosed shopping mall, power center, strip center, outparcels, restaurants, and office space.

May 29, 2014

Shopping center operator DDR Corp. is commencing a multi-year proactive lease termination initiative aimed at recapturing high-quality anchor store locations across its portfolio.

Beachwood, Ohio – Shopping center operator DDR Corp. is commencing a multi-year proactive lease termination initiative aimed at recapturing high-quality anchor store locations across its portfolio. Through this initiative, DDR is collaborating with retailers in the books, electronics, toys, office and traditional department store categories to right-size their real estate footprints by regaining control of locations in advance of natural lease expiration.

May 15, 2014

Chute Gerdeman has announced four team member promotions, including the appointment of Mary Lynn Waite, formerly senior designer, brand communications, to creative director.

Columbus, Ohio -- Chute Gerdeman has announced four team member promotions, including the appointment of Mary Lynn Waite, formerly senior designer, brand communications, to creative director.

In other promotions:

• Steve Boreman, previously senior designer, brand communications, has been named design director, brand communications.  

• Kevin Worden has been promoted to director of digital integration, information technology.  

May 9, 2014

The Bon-Ton Stores Inc. has secured a 743,000-sq.-ft. lease for a direct-to-consumer fulfillment center in West Jefferson, Ohio, with E Smith Realty Partners.

York, Pa. -- The Bon-Ton Stores Inc. has secured a 743,000-sq.-ft. lease for a direct-to-consumer fulfillment center in West Jefferson, Ohio, with E Smith Realty Partners. The new e-commerce facility is expected to be fully operational and begin shipping orders by spring 2015.

May 9, 2014

Slate Properties has acquired Mulberry Square in Milford, Ohio, part of the greater Cincinnati metropolitan area. Slate paid $15.6 million for the 146,730-sq.-ft. community center, which is anchored by Kroger, Petco and Planet Fitness.

Milford, Ohio — Slate Properties has acquired Mulberry Square in Milford, Ohio, part of the greater Cincinnati metropolitan area. Slate paid $15.6 million for the 146,730-sq.-ft. community center, which is anchored by Kroger, Petco and Planet Fitness. Inline tenants include Steak and Shake, Hallmark, H&R Block, GNC and The UPS Store.

Mid-America Real Estate Corp. in cooperation with NAI Bergman represented the seller, a private real estate investment firm, in the transaction.

May 9, 2014

Slate Properties has acquired Mulberry Square in Milford, Ohio, part of the greater Cincinnati metropolitan area. Slate paid $15.6 million for the 146,730-sq.-ft. community center, which is anchored by Kroger, Petco and Planet Fitness.

Milford, Ohio — Slate Properties has acquired Mulberry Square in Milford, Ohio, part of the greater Cincinnati metropolitan area. Slate paid $15.6 million for the 146,730-sq.-ft. community center, which is anchored by Kroger, Petco and Planet Fitness. Inline tenants include Steak and Shake, Hallmark, H&R Block, GNC and The UPS Store.

Mid-America Real Estate Corp. in cooperation with NAI Bergman represented the seller, a private real estate investment firm, in the transaction.

May 8, 2014

The Wendy’s Co. reported soaring net income in the first quarter of fiscal 2014 on lower costs and a sharp decline in interest expenses.

Dublin, Ohio – The Wendy’s Co. reported soaring net income in the first quarter of fiscal 2014 on lower costs and a sharp decline in interest expenses. The company also said it plans to open 60 new corporate and franchised stores, as well as remodel up to 400 corporate and franchised stores.

Wendy’s net income skyrocketed from $2.1 million to $46.2 million, aided by a $15 million year-over-year reduction in interest expense as a result of the company's 2013 debt restructuring.

May 2, 2014

Dover Saddlery Retail Inc. plans to open the first Dover Saddlery tack store in Ohio in summer 2014.

Littleton, Mass. - Dover Saddlery Retail Inc. plans to open the first Dover Saddlery tack store in Ohio in summer 2014. The store will be located in Cincinnati and offer in-store services including a saddle demo program and custom boot measuring.

May 1, 2014

State Street Capital Realty, an independent brokerage of Casto, has announced its recent listing for the retail portion of The View on Fifth in the Grandview area of Columbus, Ohio.

Columbus, Ohio — State Street Capital Realty, an independent brokerage of Casto, has announced its recent listing for the retail portion of The View on Fifth in the Grandview area of Columbus, Ohio.

Under development by JSDI Celmark, Ltd., The View on Fifth is a mixed-use six-story project that will include 25,000 sq. ft. of retail shops and restaurants, a freestanding six-story parking garage and 285 luxury apartment residences — with one-to-four bedrooms.