Metropolitan shopping center in midtown Charlotte sold

The owner of Ballantyne Corporate Park has purchased the Metropolitan complex just outside of uptown and a nearby piece of land for $92 million, property records filed with Mecklenburg County on Tuesday show.

Northwood Investors bought the retail and office center this week from the previous ownership group, made up of institutional investors advised by J.P. Morgan Asset Management. That’s according to a news release Tuesday from real estate firm JLL, which represented the seller.

The property houses Trader Joe’s, Marshalls and Best Buy, as well as restaurants and other local businesses.

Northwood Investors’ acquisition of the Metropolitan reinforces its commitment to Charlotte, John Barton, president of subsidiary Northwood Office, said in a statement.

In the single-largest real estate transaction in Charlotte’s history, Northwood Investors spent $1.2 billion to purchase Ballantyne Corporate Park in 2017. Northwood Office has since announced plans for a $1.5 billion revamp of the park, which

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Conversion of historic downtown Milwaukee Masonic Center to hotel is on hold, and the building is for sale.

Plans to convert a historic downtown Milwaukee building into a luxury hotel have been indefinitely delayed, with the property listed for sale.



a view of a city at night: Construction of a luxury hotel is to begin by June at downtown Milwaukee's former Humphrey Scottish Rite Masonic Center.


© Kraig Kalashian Architecture & Design, Metro Studio
Construction of a luxury hotel is to begin by June at downtown Milwaukee’s former Humphrey Scottish Rite Masonic Center.

An affiliate of Madison-based Ascendant Holdings Real Estate bought the former Humphrey Scottish Rite Masonic Center,  790 N. Van Buren St., in 2017 for $3.5 million.

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Ascendant planned to convert the three-story Masonic Center into the hotel’s lobby, restaurant and meeting rooms, with a 14-story addition atop the building’s southern end, stepped back from the street.

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That tower was designed for 215 to 220 guest rooms, with five to 10 guest rooms on the Masonic Center’s third floor. 

Those plans were approved by the city Historic Preservation Commission, with Portland,

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Facing foreclosure, Pinecrest shopping center relinquished to New York lending company following coronavirus-related financial woes

CLEVELAND, Ohio – A New York-based lender who gave a $171 million loan to the developers of Pinecrest in Orange Village now owns Northeast Ohio’s newest shopping and dining center, thanks to financial issues related to the coronavirus pandemic.

Cuyahoga County Fiscal Office records show that an affiliate of Square Mile Capital Management owns the 750,000-square-foot complex as of Wednesday. The firm in January 2019 issued a loan so that Fairmount Properties and DiGeronimo Companies, which developed Pinecrest, could refinance their construction obligations.

Crain’s Cleveland, which broke the story, reported that the transfer happened through a “deed in lieu of foreclosure,” which signals that the developers gave up the property instead of facing a foreclosure lawsuit. Cleveland.com and The Plain Dealer could not immediately obtain a copy of the land transfer documents, though court records show the previous owners did not face any foreclosure lawsuits in the county.

Fairmount Principal

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Portsmouth nurses say contractor hasn’t paid them for hours worked at Naval Medical Center Portsmouth

PORTSMOUTH, Va. (WAVY) — A group of nurses working in Portsmouth said payday has come and gone but they’re still waiting to get paid.

The nurses are contract employees at Naval Medical Center Portsmouth.

10 On Your Side spoke with the workers who said the contractor has left them in the dark.

Along with the missed payday, the nurses said they were shorted money on their last paycheck.

The contractor is Magnum Opus Technologies, a company based out of Texas.

Registered Nurse Cristina Garcia said she hasn’t had luck getting in contact with the company.

“Phone numbers have been disconnected. Emails are getting bounced back,” said Garcia. “We just want to be paid for hours we worked.”

The nurses have worked under the contractor since 2018. They said they got an email earlier this year informing them the contract with Naval Medical Center Portsmouth was ending.

“That’s all they did

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General Iron Chicago move at center of HUD investigation into city’s alleged racist zoning policies

The federal government is investigating a complaint that Chicago zoning policies are racist.

General Iron Chicago move at center of HUD investigation into city’s alleged racist zoning policies

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The complaint focuses on the scrap shredder General Iron. The operation plans to move from largely white Lincoln Park to a Latino-majority neighborhood on the Southeast Side.

General Iron has been cited several times for pollution. Activists say the city violated federal law by allowing the company to move.

The groups who filed the complaint include the Southeast Environmental Task Force, Southeast Side Coalition to Ban Petcoke and People for Community Recovery. Mayor Lori Lightfoot, Alderman Susan Sadlowski-Garza, Alderman Brian Hopkins and the Chicago City Council are named in the complaint.

RELATED: Illinois EPA approves General Iron construction permit for Chicago’s Southeast Side

“Every year that we wait to address environmental racism in Chicago, is another

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A&G Completes Bankruptcy Sale of Stage Stores’ Texas Distribution Center and Other Real Estate Assets

MELVILLE, N.Y., Oct. 21, 2020 /PRNewswire/ — A&G Real Estate Partners today announced that it has completed bankruptcy court-approved sales of Stage Stores, Inc.’s Jacksonville, Texas distribution center and two other properties to two buyers. The Melville, N.Y.-based A&G has been serving as real estate advisor for the Houston-headquartered retailer, which operated 738 conventional department stores and off-price stores under multiple brands at the time it filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in May 2020. The company has since liquidated all stores.

In the largest transaction, Bradenton, Fla.-based Bealls Inc. acquired the fee interest for Stage’s 435,196-square-foot distribution center in Jacksonville, which sits on a 42.51-acre parcel

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City eyes Dickson Athletic Club for new senior center, owner says lower offer ‘not right’

The city’s proposed purchase of the Dickson Athletic Club to be converted into a new senior center passed a first vote by the Dickson City Council on Monday. Both the city senior center director and police chief said more space is needed in their departments, and believe buying the club building could help. 



a car parked in a parking lot: The Dickson Athletic Club in Dickson.


© Herald photo
The Dickson Athletic Club in Dickson.

However, the facility’s owner, Dan Smith, said he won’t accept the reduced offering price of $1.6 million determined by council members during the meeting. 

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The offer presented to the council Monday was $1.9 million for the 25,000-square-foot facility on 100 Payne Springs Road, alongside Highway 70 and across from the city’s Buckner Park. 

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Smith said he negotiated with city staff from his initial price of $2.4 million down to the $1.9

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San Antonio shopping center owned by company tied to Nate Paul heading for foreclosure

A shopping center that was once home to dance hall Midnight Rodeo — and is owned by an affiliate of World Class Holdings, a company founded by Nate Paul — may be headed for foreclosure next month.

Paul is the Austin businessman at the center of the scandal currently engulfing Texas Attorney General Ken Paxton.

The property at 12260 Nacogdoches is set to be auctioned off Nov. 3, Bexar County property records show, although county officials have repeatedly postponed foreclosure sales due to the coronavirus pandemic.

Sonora Bank first pushed to foreclose in December and subsequently filed notices again this spring and summer, most recently last month. The bank’s promissory note is for roughly $4.7 million.

Two other San Antonio properties owned by entities connected to World Class were slated for foreclosure this summer.

Lenders sought to foreclose on warehouses at 639 Lanark on Aug. 4, a sale that was

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