Middletown's Towne Mall Being Sold to Investors, New Investment Promised

 

By Michael D. Pitman and Rick McCrabb

 

Staff Writers

 

MIDDLETOWN — The Towne Mall, once deemed “a dead mall,” is expected to be sold today to a group of California investors who plan to make major renovations and bring in new tenants.

 

Trisha Hale, mall secretary under CBL & Associates of Chattanooga, Tenn., which owns the mall, said several investors toured the shopping center recently and they returned to the mall Thursday, finalizing paperwork. They are expected to sign the contract to purchase the mall today, she said.

 

She called it “a done deal.”

 

Hale said the investors — “just regular guys,” she said — formed a corporation, SA Mary Ohio, LLC, on Thursday. She didn’t know how much the mall sold for and Dr. George Bishay, a veterinarian and one of the investors, refused to release the sale price.

 

Dr. Bishay said the investment group saw “very strong potential” in the mall, which opened in 1977.

 

He expects the group to bring in new tenants because there’s “a lot of interest” from retailers. They will meet with potential tenants and select the “best group,” he said.

 

http://www.daytondailynews.com/news/news/sale-of-towne-mall-a-done-deal/nSbgk/

 

I was there last night, in fact. It needs new investment badly, or else just take the wrecking ball to it.

 

I hope this doesn't wind up like the waves of reinvestment in the "Cincinnati Mall" (Forest Fair, et al.) The part about "just regular guys" and the one investor who is a veterinarian scares me a little - it sounds exactly like the people on these restaurant and bar makeover shows who buy a restaurant and who are clueless about the business aspects. If a mall management company can't make a go of the mall, I don't see what value a group like this can add...

Lebanon Area: New Truck Service Center Promises to Crap up Pristine Area of Turtlecreek Twp

 

(ok, so that's not the real article title)

 

http://www.western-star.com/news/news/lebanon9-million-travel-plaza-plan-sparks-cooperat/nSb8y/

 

$9 million travel plaza planned at I-71 interchange

 

By Lawrence Budd - Staff Writer

 

A 10-acre, $9 million Flying J Travel Center likely will be the first sign of a 380-acre economic development district being formed around the Interstate 71 interchange southeast of Lebanon.

 

The travel center would cover 10.9 of 382 acres in the proposed district. Local officials and land owners hope to draw manufacturing, corporate headquarters or office campuses in addition to restaurants, hotels and other developments typically found around a Flying J Travel Center.

 

“Once you get a Flying J in there, hold onto your hat. More is coming,” said Jonathan Samms, a Turtlecreek Twp. trustee.

 

Pilot Flying J, based in Tennessee, is expected to spend $7.5 million on the facility, about $1.7 million on the land, officials said.

 

Last month, Pilot Flying J said 50 jobs would be created with the opening of a similar center in Iowa. The company did not respond to questions about the center proposed at Ohio 123 and I-71.

You better hold on to your hats... since all this will do is bring an exponential amount of sprawl to that area.

^Sprawl is pretty much there already.

 

Edit. Ahhh 123. I was thinking 48. You maybe right.  The Little Miami River maybe the only barrier for sprawl now in that area.

 

Also it may reawaken http://www.urbanohio.com/forum2/index.php/topic,6716.0.html

Hilton Cincinnati Netherland Plaza getting $10M upgrade

Business Courier by Dan Monk, Senior Staff Reporter

Date: Wednesday, October 17, 2012, 2:44pm EDT - Last Modified: Wednesday, October 17, 2012, 4:39pm EDT

 

 

The Hilton Cincinnati Netherland Plaza joined a growing list of downtown hotels in line for face lifts. A $10 million renovation began about a month ago and is slated for completion by next year.

 

“The market requires it,” said Alex Warm, co-owner of Belvedere Corp., which acquired the hotel along with the rest of the Carew Tower complex in 1990. “The Hyatt is doing it. The Westin just did it. It’s time. The stuff we have is in need of freshening.”

 

http://www.bizjournals.com/cincinnati/news/2012/10/17/hilton-cincinnati-netherland-plaza.html

 

 

 

Former Hudepohl brewery going up for auction online

Business Courier

Date: Wednesday, October 17, 2012, 4:35pm EDT - Last Modified: Wednesday, October 17, 2012, 4:45pm EDT

 

 

The former Hudepohl brewery site in Queensgate will be auctioned off next week.

 

The site, located at 801 W. Sixth St., will be auctioned online with an opening bid of $250,000. The auction is planned for Tuesday, Oct. 23 between 11 a.m. and 3 p.m.

 

http://www.bizjournals.com/cincinnati/news/2012/10/17/former-hudepohl-brewery-going-up-for.html

Pretty big news:

 

<b>Guess which part of town has the most home building permits?

Business Courier

Date: Tuesday, October 16, 2012, 2:40pm EDT</b>

 

 

Through September, the city of Cincinnati leads all other jurisdictions in the region in new home building permits, according to the Home Builders Association of Greater Cincinnati.

 

A total of 239 single-family home building permits were issued in Cincinnati through September. The No. 2 jurisdiction in the region was Union Township in Clermont County, with 235 single-family permits. Liberty Township in Butler County was third with 106 permits, and Clearcreek Township in Warren County was fourth with 100 permits.

 

 

http://www.bizjournals.com/cincinnati/news/2012/10/16/guess-which-part-of-town-has-the-most.html

 

^Sprawl is pretty much there already.

 

Edit. Ahhh 123. I was thinking 48. You maybe right.  The Little Miami River maybe the only barrier for sprawl now in that area.

 

Also it may reawaken http://www.urbanohio.com/forum2/index.php/topic,6716.0.html

 

Like an undead corpse... I had exactly the same thought - the housing collapse shoved San Mar Gale off the table and I was happy with that.

 

Right, this is a very rural (just minimally commercialized) interchange. To the north and west is some sprawl emanating from Lebanon. To the south and the east is blissful southern Ohio nothingness - farmland and open spaces. Nothing like the Kohls/Target/Lowes/South Lebanon growth area around 71 & 48 with clutter in every direction.

 

OH-350 bound for Ft. Ancient proceeds east from the junction with OH-123 and from the spot where the truck stop is planned.

 

The Rt. 123/I-71 junction currently has nothing but a Valero station and another gas station, a church, a used car lot, and Country Kitchen (which is not half bad these days.)

Wonder what 239 is as a percentage of all permits in the region.

1200 and change is the total in Ohio. NKY is usually around 400-500.

BUSINESS EXCLUSIVE: Paycor moving - but where?

 

Paycor finalizing new HQ in Norwood

Norwood council to vote on deal for four-story Linden Pointe site

Business Courier by Jon Newberry, Staff Reporter

 

Norwood City Council is expected to vote by the end of the month on a proposed incentive package for a new headquarters facility for Paycor Inc. at Linden Pointe on the Lateral office park.

 

Site plans already approved by the city’s planning commission and council call for a four-story, 154,000-square-foot office building on a 12-acre parcel next to the recently completed headquarters for The Urology Group. The office park is now owned by developer Al Neyer Inc. and is located along the Norwood Lateral.

 

The plans do not identify Paycor as the occupant of the proposed building. But Bob Coughlin, ...

 

Cont (Premium Article)

 

 

1200 and change is the total in Ohio. NKY is usually around 400-500.

 

Holy crap. Then that number is huge for the city, and given the Union Twp., Liberty Twp, and Clearcreek Twp. numbers (plus whatever else is going on in the Cincy area), the Cincy metro is positively killin' it in having disproportionate growth compared to the rest of the state.

 

680/1200 = 57%

 

57% of all the permits issued in the state are in 4 municipalities in the Cincinnati area. I would guess most of the rest are in the Columbus area.

 

But wait...I can't find a Clearcreek Twp. in Warren County. The one I can find on Google Maps is southeast of Columbus.

^I think he meant that 1200 is the total on the Ohio side of the river in the Cincinnati area, as opposed to the entire state, since he's contrasting it with the Kentucky side of the river in the Cincinnati area (NKY, not all of Kentucky).

Ya sorry. ~1250 is about the total new home permits pulled in 2012 for the Ohio portion of our metro. The NKY amount will probably be about 400-500 (usual amount).

 

Still, taking out the 4 areas already listed in the Ohio metro, that leaves about 450 new homes being constructed everywhere else in the Ohio portion of the metro. Infact the city is a little more than half of all of Hamilton counties new homes. Very exciting as we are only 37% of the population of the county but are just over half the new housing growth.

 

Also, you'll find it if you search Clear Creek township Ohio

This trend has actually been taking off for several years now. Since 2009 the City of Cincinnati has seen a huge boom in new home permits.  I think in 2011 the City ended the year as the third highest, and in 2009 had the largest year over year growth of any municipality. 

 

This does two things:

 

One, it brings construction jobs, often can bring new families to the area, etc. and two, it leads to a more modernized housing stock.  Now, I don't support removing 1800's or turn of the century construction for cheap new housing, BUT WWII era housing stock is crappy, unpopular, cheap and abundant.  We are never going to get people to go in and renovate hundreds of 1940's homes into a better housing stock with all the amenities the exurb stock provides.  In these cases building new homes increases the options to homebuyers in the City.  When someone comes from out of town, wants to live in the City, but wants a single family home of a certain size and condition, we will now have more to offer.

LA Fitness just bought the Urban Active chain of gyms. They claim that there are no plans to close any locations at this time, but there are several locations where they both operate and I can't imagine they'll keep both open. For example, LA Fitness is in the Center of Cincinnati development and Urban Active is in the "Cornerstone at Norwood" development. Also, LA Fitness is at Kenwood Towne Place and Urban Active is right across I-71.

Cincinnati Bell subsidiary buys downtown building for $18M

 

Jon Newberry

Staff Reporter- Business Courier

 

Cincinnati Bell Inc. subsidiary CyrusOne Inc. purchased the company’s downtown Cincinnati facility at 229 W. Seventh St. for $18 million, according to the Hamilton County Auditor’s website.

Cincinnati Bell (NYSE: CBB) occupies about 74,000 square feet of the 14-story, 350,000-square-foot building it sold on West Seventh Street and will lease that space back from CyrusOne, according to CyrusOne’s registration statement filed with the Securities and Exchange Commission. The Oct. 5 filing said it expected to pay about $15 million for the property. It’s one of 21 data center facilities CyrusOne operates across the country. Cincinnati Bell still owns an adjoining building at 209 W. Seventh St.

LA Fitness just bought the Urban Active chain of gyms. They claim that there are no plans to close any locations at this time, but there are several locations where they both operate and I can't imagine they'll keep both open. For example, LA Fitness is in the Center of Cincinnati development and Urban Active is in the "Cornerstone at Norwood" development. Also, LA Fitness is at Kenwood Towne Place and Urban Active is right across I-71.

 

What do you know, they closed the Kenwood Towne Place location today. http://cincinnati.com/blogs/developingnow/2012/11/14/club-closes-doors-at-troubled-kenwood-center/

I belong to the cornerstone at norwood location and they claim they are going to keep that location open as well as the LA at center of Cincinnati.

More than 200 jobs could come to former Ford plant

Business Courier

Date: Thursday, November 15, 2012, 7:36am EST

 

 

The former Ford transmission plant in Batavia Township could become home to more than 200 jobs, wcpo.com reported.

 

A Finnish firm, Huhtamaki Inc., is working on a deal to buy half of the 1.8 million square feet in the factory to make drinking cups. In addition, the company plans to buy 60 acres of land.

 

http://www.bizjournals.com/cincinnati/morning_call/2012/11/more-than-200-jobs-could-come-to.html

I belong to the cornerstone at norwood location and they claim they are going to keep that location open as well as the LA at center of Cincinnati.

 

From what I hear that is not the case.  They are moving the Norwood location to the new Rookwood Development.

Flying J Travel Center: Residents dispute proposed truck stop

 

http://www.western-star.com/news/news/local/residents-dispute-proposed-truck-stop/nS7kK/

 

The locals no likey:

 

LEBANON — Approximately 100 people came to the Warren County Commissioners Thursday to dispute a proposed truck stop that is planning to come to the area.

 

Pilot Flying J, based in Tennessee, plans to build a multi-million dollar truck stop at the intersection of Interstate 71 and Ohio 123 . A mostly hostile crowd, including the commissioners themselves, said they were not happy about the truck stop coming to the area. But at the same time, the commissioners said there was little they could do to stop it.

 

“I personally and professionally don’t want there to be another truck stop in Warren County at one of our exit ramps,” said Commissioner Pat South.

...

County commissioners did not approve the site plan on Thursday night but conceded they would most likely have to as long as the company met all zoning requirements.

...

... resident Terri Banker: “We ask our kids to perform well in school, get a four-year education and after years of education all we have provided them with is the job of cashier. There was a hope of high-tech, bio-tech – some sort of high-income jobs; if we keep going down this road, we’re jeopardizing that. If you put that truck-stop in at 123, you can forget any high-quality development.”

 

Bio-tech in Lebanon?

"Ohnoez! Who could've imagined that our precious suburbs would be ruined by a... truck stop!"

 

Reminds me of the people who buy a McMansion next to a hog farm and then complain about the smell.

Maybe their kids don't want to move back to Lebanon and work at that job across the street from mom and dad after four years in college.

My opinions:

 

1) The truck stop will crap up what is now a fairly pristine section of the county. It's not suburban, really. It's about 3 miles from the city limits of Lebanon and there is open country in between.

 

2) It's a low-rent, non value added development that is pitch perfect for Lebanon. No intellectual property of any consequence is produced in the Lebanon area. You just don't find smart researchers and developers in this area.  So if something goes in there, it may as well be a truck stop or some other blue collar thing. Lebanon has two brand new Goodwill stores, for pete's sake.

 

Maybe their kids don't want to move back to Lebanon and work at that job across the street from mom and dad after four years in college.

 

Exactly.

Jungle Jim's Eastgate cutting jobs

 

Written by

John Faherty

 

A round of layoffs is taking place at the Eastgate Jungle Jim’s International Market although the exact number of jobs lost is uncertain. The store opened in September.

 

Jungle Jim’s director of development, Phill Adams, acknowledged the layoffs but couldn’t say how many employees were being let go. The actions aren’t because the store is underperforming, he said: “We’re exceeding our numbers for sales projections.”

 

The store is part market, part shopping experience, with international foods, a wine and beer shop, a cigar store and a coffee shop.

If the store is exceeding projections, why are they taking away people's jobs just in time for the holidays?

It's possible that they knew they would be flooded with business for the first few months and staffed accordingly; now the initial rush has passed and they no longer need such a large workforce.  Exceeding projections doesn't necessarily mean that you are optimally staffed.

UDF plan in Red Lion follows $8 million road project

 

http://www.daytondailynews.com/news/news/udf-plan-in-red-lion-follows-8-million-road-projec/nTXD3/

 

RED LION, Warren County — United Dairy Farmers is working with state transportation and environmental officials on a project fueled by the $8.2 million road project transforming this crossroads community.

 

UDF’s plans for a gas station-convenience store on Ohio 741, just south of the crossroads, unfold as the state continues work eliminating the busy five-point intersection that created safety problems for drivers traveling between Lebanon and Springboro.

 

Ultimately the work also will open up more than 500 acres, most in farm fields, for residential and commercial development between the region’s two largest cities.

 

“It makes you appreciate that Cincinnati and Dayton are growing closer and closer year after year,” developer Gen Mello said this week.

 

This is significant because of the bolded sentence... the UDF development and the restructured road alignments create a new lobe of growth in a pocket of Warren County that hasn't seen much development to date.

 

Along with the proposed development in the southeast direction at I-71 at SR 123, Lebanon is being bracketed on two sides by both Dayton and Cincinnati market incursions.

Sounds like a nice place for a new airport (to replace CVG and DAY). That's the only development I could imagine getting excited about there. What a shame.

Engineering firm to move HQ to downtown Cincinnati

 

http://www.bizjournals.com/cincinnati/news/2012/12/17/engineering-firm-to-move-hq-to.html

UDF’s plans for a gas station-convenience store on Ohio 741, just south of the crossroads, unfold as the state continues work eliminating the busy five-point intersection that created safety problems for drivers traveling between Lebanon and Springboro.

 

Ultimately the work also will open up more than 500 acres, most in farm fields, for residential and commercial development between the region’s two largest cities.

 

So sad.

 

I used to take that highway, 741, home via Red Lion instead of the freeway to sort of unwind after the long drive from KY (exit at Monroe & past the prison to catch 741).

 

The stretech Otterbein/Red Lion/Springboro was still classic SW Ohio/Between the Miamis rural countryside..rolling farmland with woodlots with long views west over the Great Miami valley opening up on occasion. Development was mostly limited to some large lot ribbon development.  Not really suburban.

 

Red Lion was the center of that route, with the antebellum Methodist Church anchoring the crossroads.

 

Its been a long time but I drove by there on Sunday and noticed some construction work. so I guess this is whats going on...some major road project. 

 

Always thought that crossroads would be a good spot for some "New Urbanist" development to sort of reconstruct what might have once been there (recall there was one or two older buildings that burned, years ago).  Instead we get a gas station. 

 

 

About Red Lion traffic -

 

In the wayback - pre-1994 or so - Red Lion had no traffic lights. Stop signs guarded Rt 741 and Rt 123. I avoided that direction of travel like the plague in those days unless I simply forgot. That five point intersection was a major clusterf***. The backups were a small scale version of those at Fields Ertel or Tylersville prior to traffic lights being installed in the early 90s.

 

In the early 90s, traffic lights were erected to control 122, 123 (Lebanon bound) and 741 traffic. That alleviated the traffic flow substantially for years. But all directions always had the problem of no dedicated left turn lanes.

 

With continued growth and probably the growth of commuting between Mason and Springboro, traffic again built up, and the lack of turn lanes make driving through the intersection like playing chicken.

 

Rt 123 southbound to Lebanon was relocated away from Red Lion about 1/2 mile to the east with its own light. The restructured intersection will probably have turn lanes. And no Mom's Restaurant which was probably taken for enlarged right of way.

 

What destroyed Red Lion was suburban growth and the fact that it sat at a regional "transportation hub."

Well this sucks for downtown:

 

Brooks Brothers closing downtown store

Fountain Place lease not being renewed

 

Thursday that is closing its downtown store at Fountain Place on Vine Street.

Company spokesperson Dana Schiller wrote in an email to 9 On Your Side that the lease expires in the next few months and there are no plans to renew it.

 

http://www.wcpo.com/dpp/news/local_news/brooks-brothers-closing-downtown-store

Say what you will, but when BB's target market already works, and in many cases, lives downtown, it does not paint a pretty picture for retail in downtown Cincinnati. This should have been a great fit.

^They must have done a poor job at advertising. I never see or heard a commercial.

When I shopped at the downtown Brooks Brothers a couple of years ago I found their clothing to be cheaply made and definitely more expensive than other retailers (particularly for the lack of quality).  That and they couldn't even be bothered to spell my last name correctly in their system even though I purchased clothes with a credit card.  Good riddance.

Say what you will, but when BB's target market already works, and in many cases, lives downtown, it does not paint a pretty picture for retail in downtown Cincinnati. This should have been a great fit.

 

Yep, I live in OTR and work downtown and shopped there quite a bit. My credit card has good points and rewards through them so it worked out perfectly.  I avoid Kenwood Towne Center at all costs, so I doubt my shopping there will continue, unless I just do it online which is tough for clothes.

 

When I shopped at the downtown Brooks Brothers a couple of years ago I found their clothing to be cheaply made and definitely more expensive than other retailers (particularly for the lack of quality).  That and they couldn't even be bothered to spell my last name correctly in their system even though I purchased clothes with a credit card.  Good riddance.

 

That’s odd, I really find them to be the absolute highest quality of any shirts I’ve ever owned.  I’ve had a few shirts for about 6 years now and they still look new.  They’ve probably been worn and washed a hundred times.  I had cheaper shirts from Express and Uniqlo that end up looking crappy after a few months. I'll miss the place.

This is not good news. Both Cleveland and Pittsburgh have downtown and suburban BB stores (I'm assuming the BB in Tower City is still open). Pittsburgh's downtown store is one of the best I've ever visited. Fountain Place store wasn't as impressive but I never had a complaint about the service - and certainly not the quality.

 

Hopefully, this says more about BB's cost cutting than it does about downtown Cincinnati.

My dad liked BB. That was about 25 years ago, however. Are they perhaps following an age group?

This stinks.  Love BB shirts.  Best you can get for a reasonable price.  I wonder if the Jos. A. Bank next door will move into the space. 

 

Tiffany just renewed their lease, right?  The city really needs to figure out a way to draw folks with Tower Place.  We don't need a mall downtown, but we need some retail. 

Quimbob, BB has done remarkably well diversifying their designs to meet both the needs of dads and their 20-30 somethings sons. The past few years we have seen lots of slimmer cuts, east-coast preppy inspired apparel, and more casual designs suited for a less conservatively-dressed workforce. The new store at Kenwood has much of this stuff, while the downtown location was pretty much only the boring banker/lawyer collection.

http://www.bizjournals.com/cincinnati/blog/2013/07/jungle-jims-has-teamed-up-with.html

 

Jungle Jim's is working with Google to not only map their stores but add the aisles to the Google Maps street view.

Ahh, can't wait to look at the Port-A-John men's room door from the comfort of my couch in Columbus.

Ahh, can't wait to look at the Port-A-John men's room door from the comfort of my couch in Columbus.

 

You got home internet?

Still have it until my roommate leaves for the Army in a month or so.

Cincinnati's tech startups featured for a few minutes on national tv.

 

http://video.cnbc.com/gallery/?video=3000183924

Figures the host'd throw out the phrase "it's conservative" ("I don't mean politically") to describe the city. It's a mantra for people who don't know anything else to say.

 

I've met several people who, when I say I'm from Cincinnati, those are the first words out of their mouth and the only thing they know to say about the city.

 

The other thing I hear, much less frequently, from people who don't really know much about the city, is that they've heard it has great neighborhoods.

Figures the host'd throw out the phrase "it's conservative" ("I don't mean politically") to describe the city. It's a mantra for people who don't know anything else to say.

 

I've met several people who, when I say I'm from Cincinnati, those are the first words out of their mouth and the only thing they know to say about the city.

 

The other thing I hear, much less frequently, from people who don't really know much about the city, is that they've heard it has great neighborhoods.

 

The host--Joe Kernan-- grew up in Western Hills and graduated from St. X (and later MIT), so he is not as ignorant as you might think. Then again, it is highly likely that his memories are probably a bit dated.

dbaDirect moves HQ, plans to hire 110

Erin Caproni Digital Producer- Cincinnati Business Courier

 

 

dbaDirect will move its 73 current employees from its office on Turfway Road in Florence to a new 22,000-square-foot office in the Corporex Companies RiverCenter complex in Covington by September.

 

The company also plans to expand its workforce once it settles in to its new space. Officials have plans to hire approximately 110 new high-tech employees by 2016.

 

http://www.bizjournals.com/cincinnati/morning_call/2013/08/dbadirect-moves-hq-plans-to-hire-110.html