Good morning, Dev Test County. A $167 million shopping spree just reshaped Cleveland's retail landscape as North Carolina's Tanger Outlets swooped in to claim the crown jewel of Orange Village. Like a game of real-world Monopoly, premium properties are changing hands faster than you can say "Pass GO," with even New York investors getting in on the action in downtown Akron.
Meanwhile, Twinsburg is taking a "measure twice, cut once" approach to the brave new world of recreational marijuana. While officials craft regulations with the precision of master gardeners, they're also planting seeds for future growth - including 91 new jobs blooming at Formtek Inc. Just don't expect any discount electricity bills to light up those new ventures; rates are heading skyward faster than a drone over Pinecrest.
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0%☕️ What's Brewing Locally
🏬 North Carolina retail giant snaps up Cleveland's Pinecrest for $167 million. Tanger, a major shopping center operator, has acquired the 640,000-square-foot mixed-use lifestyle center in Orange Village, marking its third full-price market acquisition. The upscale development, which opened in 2018, features premium retailers like Whole Foods, REI, and Nike, along with entertainment venues and residential spaces. Previously owned by a New York lender after a pandemic-era foreclosure, Pinecrest is expected to deliver an 8% return in its first year under Tanger's management. The acquisition includes residential and office components, strengthening Tanger's presence in Cleveland's affluent eastern corridor.
🏢 New York firm drops $4.5 million on iconic Akron office building. Pioneer Acquisitions, led by L. Jayson Lemberg and based in Rye, New York, has made a significant investment in downtown Akron's commercial real estate market. The purchase of City Centre represents a notable out-of-town interest in Akron's business district. The transaction signals potential confidence in the regional office market despite broader industry challenges. The deal adds to recent commercial activity in Northeast Ohio, including other major property acquisitions and developments.
🏛️ Twinsburg extends marijuana pause while crafting new business rules. The City Council voted to extend its moratorium on recreational marijuana facilities for three months, giving officials time to develop comprehensive regulations. In the same meeting, council members greenlit a $1.95 million road improvement project with Perrin Asphalt Company. The city also secured a major economic win by approving an agreement with Formtek Inc., which will bring 91 jobs and a $5.12 million payroll. Residents were warned of upcoming 10-15% electricity rate increases that could last several years.
🏀 Basketball Scoreboard (Boys)
| Team | Opponent | Score |
|---|---|---|
 Tallmadge (13-7) | ||
@ Firestone | W 95-50 |
🏀 Basketball Scoreboard (Girls)
In a nail-biter that had fans reaching for their blood pressure meds, Wadsworth squeaked past Tallmadge 38-36 in a defensive showdown that made every basket feel like striking gold. The Grizzlies managed to claw their way to victory despite both teams apparently leaving their offense in the locker room.
| Team | Opponent | Score |
|---|---|---|
| Tallmadge (15-7) | ||
@ Wadsworth | L 38-36 |
🏡 Real Estate Reveals |
PRESENTED BY Amy Jackson, CENTURY 21 |
Custom home with gourmet kitchen: This stunning custom home priced at $670,000 in Barrington Estates boasts a gourmet kitchen with Bosch appliances, a grand two-story great room, and a luxurious master suite, along with an in-law suite on the first floor.
Cape Cod gem with modern upgrades: This enchanting Cape Cod home in the esteemed Southeast School district is listed at $359,000 and features modern amenities on 1.69 acres, including a remodeled kitchen, a first-floor master suite, and a spacious outdoor entertaining area.
Prime lot ready for business: A 1.234-acre lot overlooking Garrettsville Plaza is up for grabs at $105,000, with utilities available and perfect for your new business venture in this thriving community. Don’t let a big box store snatch it away.🗓️ Happenings & Hoopla
💰 Financial Friday |
TIPS PRESENTED BY Farmers Bank |
Consider setting up an automatic transfer to your savings account each payday; this "pay yourself first" strategy can help you accumulate savings effortlessly without even noticing the difference in your spending.
🍞 Daily Bread Crumb |
PRESENTED BY Northbend Church |
For God did not give us a spirit of timidity, but a spirit of power, of love and of self-discipline.
-2 Timothy 1:7
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