Known as a buyer, ICP of Solon starts to sell some of its properties
CoStar A California investor group has acquired the flex office/warehouse building on First Street in Westlake for $5.7 million.
Buy. Buy. Buy.
That has been the mantra the past few years for Industrial Commercial Properties of Solon. That was especially the case in 2020 as it snatched up 22 properties.
However, the company owned by Chris Semarjian also started to sell some of its properties.
Case in point: the Henkel/PPG building at 26235 First St. in Westlake was sold Jan. 29 to a San Francisco-based investor group for $5.7 million, according to Cuyahoga County property records.
Akron seeks to rezone, redevelop struggling Chapel Hill Mall
Updated Feb 08, 2021;
Posted Feb 08, 2021
The city of Akron is seeking to rezone the Chapel Hill Mall to allow for private redevelopment. (Robin Goist, cleveland.com)
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AKRON, Ohio – One year after Summit County began foreclosure proceedings against Chapel Hill Mall, the city of Akron is moving forward with plans to rezone the property with the hope developers can repurpose the mostly vacant structure and expansive parking lot.
City Council on Monday considered a zoning change for the mall at 2000 Brittain Road to go from a “retail business use district,” allowing for retail and residential use, to be a “unified planned development district,” which expands the zoning to also allow for some commercial use.
Industrial Commercial Properties enters winning and only bid at auction for City View Center
Michelle Jarboe/Crain s Cleveland Business
Court-appointed receiver Donald Shapiro, at right, conducts an auction for the largely vacant City View Center retail project on Thursday, Dec. 10. The only participants were representatives for the noteholder, a joint venture between Solon-based developer Industrial Commercial Properties LLC and local attorney George Simon.
A Solon-based real estate developer will take control of the failed City View Center retail project in Garfield Heights, after entering the winning and the only bid for the property.
During a brief auction Thursday morning, Dec. 10, an affiliate of Industrial Commercial Properties LLC offered $2 million for the 60-acre shopping center, which already is being repositioned as a business park.