Staff writer for Cleveland Business Journal
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Articles by Mary Vanac
Site Centers to pay $3 special dividend, delist from NYSE as it winds down operations
The special dividend represents more than 25% of the REIT's market capitalization. Shares jumped 19% on Friday.
University Hospitals wins approval for education center, demolition of a dozen homes
The Iris S. and Bert L. Wolstein Center will be a 44,000-square-foot facility with classrooms and an art gallery. Construction is expected to start in November or December.
Florida breakfast chain Keke's plans dozens of Ohio restaurants, starting with Cleveland
The Orlando-based chain has almost 60 restaurants in Florida and recently began expanding to other states.
Cleveland Hopkins updates $1.6B airport modernization plan, courts contractors
The first phase calls for redeveloping passenger-facing facilities. The cost of replacing terminals is not yet known.
Cooper's Hawk to open third Cleveland-area restaurant, filling gap in south suburbs
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Reese Consumer Health shelves Fairfax headquarters plan, shifts to Slavic Village lease
The four-generation manufacturer has outgrown its Frank Avenue building after more than 100 years.
Weaver Brands snags third acquisition since 2021 private equity buyout — plus 3 more M&A deals to know
Shapley Ltd. is Weaver Brands' third acquisition since being acquired by Cleveland's Blue Point Capital Partners.
Cleveland marketing firm Consolidated Solutions buys century-old HKM Direct — plus 2 more M&A deals
The acquisition brings together two Cleveland companies with deep roots in direct marketing and print communications.
JumpStart taps commercial real estate exec Terry Coyne to chair board
Terry Coyne joined the board in January and quickly stood out for his deep regional relationships and practical deal-making experience, the organization said.
Beachwood Place adds tenants as malls see nationwide resurgence
The nearly 978,000-square-foot shopping center has attracted new tenants since Trademark Property took over management in January.
North Canton AI company merges in $500M deal to power massive Ohio data center
Alignment Engine Inc. is building a data center in a repurposed Chillicothe paper mill with 154 megawatts of power available now. The facility will eventually support 480 MW.
Cleveland approves 120-unit apartment project to replace vacant Dave's Market
The two new buildings are set to rise in the AsiaTown neighborhood and will include a Cleveland Public Library branch.
Haslams donate $10 million to Rock Hall expansion
The Haslam Atrium will serve as the museum's main entrance with a reception area and bar. The Browns owners have donated millions to Cleveland institutions this year.
Holden Forests & Gardens plans $10 million research building at Kirtland arboretum
The building will host research laboratories and public engagement spaces next to the existing plant science center.
Swagelok plans to hire 1,200 people in Northeast Ohio amid semiconductor boom
The Solon-based maker of industrial gas- and fluid-control systems is seeing strong demand across semiconductor and other global markets.
Diamond Properties buys Brunswick industrial facility for $8 million
The property is fully leased to a North American label manufacturer through June 2031. The tenant consolidated two smaller facilities there in 2021.
Flux Steel to retrofit Stark County mill, challenge Cleveland-Cliffs' dominance in key transformer steel market
The Louisville facility will make magnetic steel for transformers as demand surges from data centers and grid operators.
Youngstown-area drone startup Agilis Air snags $1.4M, lands spot in Army's online storefront
The Youngstown-area startup will use the funding to ramp up production of its Remora drones at its North Benton facility. The Army launched the marketplace in March.
GE Aerospace completes $11.8B acquisition of Cleveland casting maker — plus 2 more M&A deals to know
The former General Electric Co. unit's acquisition secures mission-critical casting capacity for its commercial and defense markets.
Port authority approves $95M in financing for 3 Cuyahoga County development projects
The Cleveland-Cuyahoga County Port Authority approved incentives for projects in Middleburg Heights, Strongsville and Richmond Heights.
Thyssenkrupp unit expands to Brook Park, starts making data center equipment
Tk Accelis Materials Plus is expanding its fabrication capabilities at the former Ford Cleveland Engine Plant 2 site.
3 creditors claim $42M in fight over foreclosed Centennial Building in downtown Cleveland
Deutsche Bank is owed the largest claim at $33.4 million. Cuyahoga County and an architectural firm also have claims.
Akron startup Harmoni raises $10M, launches AI tech to solve manufacturing workforce crisis
The technology aims to help manufacturers compete as experienced machinists retire and production environments grow more complex.
Myers Industries' CEO called the transaction a defining step in the company's ongoing transformation.
What's next for Cleveland Hopkins airport: new parking deck, ground transportation center
The parking garage will span more than 2 million square feet. It's the first performance structure in the CLEvolution program.
The project will extend Taxiway Victor by 630 feet and add a new connection to hangar aprons. Construction is expected to last nine months.
Anchor Manufacturing sells headquarters, production facilities in capital-raising leaseback deal
The transaction enables the Pfaff family to monetize its real estate assets while maintaining their company's Cleveland operations.
The developer still plans to pursue financing to redeem the mortgage. The receiver has scheduled bids to be submitted by Oct. 24.
Developer faces Sunday deadline to keep downtown Cleveland office building
Frank Sinito and his limited partnership must offer a firm financing commitment by Sunday or the building goes to sale. One buyer is in preliminary discussions.
TRG uses acquisition to expand European footprint — plus 3 more NE Ohio deals to know
Two historic Cleveland printing companies merge, and two Northeast Ohio companies receive strategic investments.
Vicious Biscuit leases Canton-area space, plans early 2027 opening
The 5,025-square-foot restaurant will create 30 to 40 jobs. It's the third Ohio location for the franchisee group.
Ultium Cells in Lordstown recalls laid-off workers as GM battery orders rise
The joint venture between General Motors and LG Energy Solution laid off workers in January citing slower EV adoption. Production restarted this month.
ProVia adding 800 jobs across 2 new manufacturing plants in Ohio and North Carolina
The Walnut Creek-based door and window maker is building facilities in Dover and Mocksville. Both projects are expected to create 400 jobs each.
Cleveland housing fund invests $6M in West Side project after 3-year financing struggle
Developers spent three years securing financing for the transit-oriented development. The fund investment proved essential to moving it forward.
ProVia wins $4.8 million tax credit for 400-job expansion in Tuscarawas County
ProVia wants to acquire a building in Dover and create 400 jobs to meet demand for custom replacement windows.
Brooklyn Heights metal stamping, tool-and-die company acquired, plus 3 more M&A deals
The acquisition of stamping and tool-and-die maker Die-Matic follows a multimillion-dollar fund investment for the acquiring company.
Cleveland-Cliffs matches $500M federal grant for Ohio steel mill without hydrogen retrofit
The steelmaker will upgrade its blast furnace and add artificial intelligence technologies instead of converting to hydrogen fuel.
Cleveland City Council approves TIF district to encourage East Side investment
The 1,500-acre district aims to reverse generations of disinvestment in the Hough, Central and St. Clair-Superior neighborhoods through infrastructure improvements.
Redevelopment project of former Medical Mutual HQ in downtown Cleveland seeks a TIF
Redevelopers of the historic Rose and Sloan buildings in downtown Cleveland are asking the city for a $16.6 million tax-increment financing deal.
Phoenix Investors lists historic Nela Park campus for sale
Phoenix Investors acquired the historic campus with plans to revitalize the property and attract tenants ranging from manufacturers to medical offices or labs.
The Shoppes at Parma sell for $85 million
The shopping center's dual grocery anchors are a rare feature that executives say positions the property for long-term success.
Sonic Fire Tech raises $15M as it pivots from wildfire defense to kitchen fire suppression
The Cleveland startup is using the funds to expand manufacturing and pursue a new market focus that could unlock billions in revenue.
Reese Consumer Health acquires Australian Dream pain relief brand — plus 2 more M&A deals to know
Cleveland-based Reese Consumer Health is adding a well-known pain relief brand to its portfolio and planning to open a new facility next year.
SparrowHawk acquires Streetsboro building as part of massive Midwest expansion
The acquisition includes properties in Cleveland, Cincinnati, Dayton and Columbus. The portfolio is 94% occupied by 30 tenants across diverse industries.
Geis Cos. faces hurdle in plan to create surface parking lots in Cleveland's Gateway district
Geis Cos. wants to turn two vacant properties in Cleveland's Gateway district into temporary parking lots, but the city's 20-year-old ban on new surface parking lots is standing in the way.
Class B office space outpaces Class A in Cleveland leasing for first time since pandemic
Cleveland office tenants made a surprising shift in their leasing decisions, driven by a growing gap between rental rates for premium and mid-tier buildings.
Northeast Ohio film productions land nearly $2.5 million in state tax credits
The awarded film projects are expected to create dozens of jobs and generate millions in payroll and economic impact across Geauga and Cuyahoga counties.
Encore Wound Care tops Northeast Ohio companies on Inc. 5000
The North Royalton-based mobile wound care provider posted three-year revenue growth of 5,515%. Two other Northeast Ohio companies also cracked the top 350.
More than a landlord: Newmark broker Terry Coyne bets on digital knitting startup Found Surface
Found Surface is targeting a multibillion-dollar customizable knitwear market with digital flatbed knitting machines that produce finished garments without cutting or stitching.
Developer gets initial approval to rebuild 44 Rainbow Terrace units destroyed by explosion
Detroit-based American Community Developers has received preliminary City Planning Commission approval for plans to construct six buildings at Rainbow Terrace apartments in Cleveland's Kinsman neighborhood. American Community Developers Preview this article 1 min The new apartments planned for Rainbow Terrace will be significantly larger than the original units and feature updated designs, with construction set to begin on six buildings across two sites.
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