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Metropolitan Tower 224'
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  1. The NBA has multiple marketing deals with gaming companies. They are no longer anti-gaming. MGM Resorts owns an entire WNBA team and Vegas hosts summer games. Even before that though, they allowed casino operators to own teams. Most notably, the Maloofs owned the Kings and were allowed to offer sports betting just not on the Kings themselves. https://www.espn.com/nba/news/story?id=3661587
  2. But Gilbert will still operate the casino. All that’s changing is he now has a landlord. Leasing back casinos has become all the rage. Even the Bellagio was sold but MGM is still the operator. I do wonder about this over the long term. Hard Rock is leasing back Jack Cincinnati from VICI. It’s possible JACK continuing to operate in Cleveland is a short term play and they will look for new management down the road.
  3. Current is no longer owned by GE. A private equity firm acquired it a few months ago. At some point, it will drop the GE name. For now at least, it still has offices at Nela Park and is still hiring. GE Lighting is sill for sale and they are actively looking for buyers. The European lighting operations were jettisoned last year.
  4. It’s not completely out of the norm for WWDTM to visit outdoor amphitheaters. They’ve played Wolf Trap, Tanglewood and Red Rocks just to name a few. I was surprised it’s taken them this long to visit Blossom since it’s home to such a well known orchestra and it’s in a national park. As mentioned, it usually plays at Playhouse Square. An arena like Wolstein doesn’t fit the setup for the show at all.
  5. The VGTI went out of business. Port St. Lucie owns the building and has been negotiating with the Clinic to take space in the building and to open a research center there. Vaxine is an Australian company that would occupy space with help from a state grant. As part of this, Vaxine would work with the Clinic and other occupants on research.
  6. The Western Reserve Land Conservancy owns a good chunk of land in Hunting Valley. Its around 300 acres. The village itself owns over 100 acres. The village also has agreements with a bunch of owners under a conservation easement. I'm not sure how you could group them into one entity but I agree with you. At least the village has been proactive in protecting the lands in the area.
  7. I get your point about the leases but Namdar got the place for nearly nothing. Anything they make is pure profit and they don’t care about the long term. When Home Depot renewed, that gave them an attractive asset, one they could sell for more than what they spent for the entire complex. Whether anyone buys it is another story, especially since the rest of the center isn’t up for sale. Anyhow, revenue doesn’t seem to be much of a concern for Namdar. Its controlled by a group of shady families that play a bunch of accounting games. Namdar likes to hold onto properties until the bitter end, watching them decay and by then you are left with a rotting shell. Some flat out close. I suppose Namdar could change strategies or the area becomes such a hotspot they get a big offer but that seems really optimistic.
  8. Namdar isnt in the development business. They are only a landlord and a lousy one at that. Just check their history around the country. Namdar/Mason (an affiliated company) and Kohan Realty have bought tons of distressed malls across the country and do not improve them what so ever. In some cases, they even fail to pay taxes on them. The only time a Namdar/Mason or a Kohan property improves is if someone owns another piece of it. Richmond Town Square is an example of this as DealPoint Merrill bought up the Sears and Macy's and is converting it to a Cubesmart and apartments. Dealpoint tried to takeover the vacant Walmart and CH officials rejected them. I don't know if DealPoint would've proposed something similar in the Heights but that rejection doesn't look like a great idea at the moment. Namdar is trying to sell the Home Depot site at severance as HD has a lease that runs for another 15 years.
  9. Fox Sports Grill makes sense because the owner is a graduate of BGSU. That said, I don’t see how that’s replacing Cordish’s Live concept. The Live concept is a multi tenant venue. That part might be dead but I don’t think it’s comparable except for the fact that many Live locations included an ESPN Zone or a similar sports bar.
  10. I think the owner overextended himself when he opened Sammich in North Collinwood. It was a disaster and only open a few months. That had to set him back quite a bit. I think this was mentioned in another thread but we should note Trentina's closure. Trentina had a fairly high profile and had national praise so its a big deal for it to go away. It was also one of the more formal places in town.
  11. I wonder if health care training is a big reason for that. The Clinic and UH employ thousands of people who are here just for research, training and/or continuing education. Some are here for months, some years. You have a sizable chunk that stay here permanently but I know plenty who consider this a temporary stop and move on.
  12. As a native Detroiter, I'm skeptical that the Illitches are going to do anything big. They always talk big but almost never deliver. I just came back from Detroit and outside of the arena and the new HQ (which is way behind schedule), all I found was a bunch of new Illitch branded parking lots and some windows on the empty Eddystone. Quite frankly, DTE has done more in that area with Beacon Park than the Illitches have done with their growing acres of concrete.
  13. I've wondered about this too. The new Hudson's building will be massive. Who is going to fill the office space? Is Gilbert assuming that his companies will keep growing so he will need the space? What happens if the mortgage market crumbles? Quicken won't be needing any new hires will at some point trim people. It's great that Detroit is making a comeback but its almost all on the backs of one company and one person. Reminds me of the old days where the auto industry was the only thing keeping the city vibrant. Now you can add mortgages and a few tech firms, especially for downtown.
  14. What great pictures! As a native Detroiter, I have so many great memories of heading Up North (and when I say Up North, I mean north of Clare, not Monroe!) and I am way overdue to go back. I loved the area so much, I strongly considered going to college in either Traverse City or the Soo. I can chime in a little bit about those billboards. You do see some in Michigan although they are much more prominent in Mid Michigan and areas around Holland. Those are by far and away the most conservative sections of Michigan and always have been. I can remember seeing Pro-life billboards all around Clare and that was 30 years ago! The map showing Trump's counties is fairly meaningless as I can easily drag out a map from 2008 and 2012 and show a bunch of counties that Obama won. He won overwhelmingly and it wasn't just on the backs on the urban areas. Traverse City itself is fairly liberal. Clinton won there. It might not be Saugatuck but its hardly militia country. Petoskey, Charlevoix and Harbor Springs are more traditional big money Republican resort towns. Then you have the outer areas filled with hunters and fishermen. All in all its kinda a weird area as many vacationers come from liberal Chicagoland.
  15. Indeed, Jacobs Group is almost a dormant company. They've been selling off land or in some cases, they are almost silent partners. They don't develop much of anything on their own anymore. Their last major development was Cabela's and that was nearly four years ago. The Public Square lots aren't even listed on Jacobs' own website although much of that site is very outdated. I'm not sure how Jacobs Group's ownership group is structured and I'm curious to know how local it is. As mentioned, Jeff Jacobs lives in Florida. His company is based in Colorado. Most of his major developments are out West. He's been buying up quite a bit of property in Reno. His Cleveland holdings are the only ones that don't include casino gaming of some kind. That leaves Nautica as an outlier among all of his investments. I think that's one reason it takes a backseat. His focus is on casinos, not real estate.
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