CINCINNATI-Dover Realty Advisors LLC, based in the Detroitsuburb of Bingham Farms, MI, is expanding by adding an office hereto focus on multifamily institutional asset and propertymanagement, including REO turnaround and receivership work.Principal Terry Schwartz has brought in Dan Schultz to run thisoffice.

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Schwartz, who left his post as president and COO of VillageGreen Apartments in 2000, says the new office is part of his moveback to property management and receivership. Originally focusingsolely on asset management, Dover’s property management group hasseen a 50% increase in revenue growth in the past six months, withthe group now running more than 6,5000 units.

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This area was the best fit for expansion, he tells GlobeSt.com.“We wanted to capture mid-Ohio, as we’re already doing Toledo andCleveland. This office will let us get into multifamily marketshere and in Kentucky and Indiana,” Schwartz says.

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Banks and distressed property owners have been great customerslately, he says, an area where Schwartz says he is in his element.“As a receiver you go in, and it’s where they’ve stopped spendingmoney to maintain the place because they ran out of money,” hesays. “It’s a skill to go into these troubled assets and be able toturn them around in a quick fashion. We go in and diagnose theproblem, you can see a lot of the issues right off the bat. Youcan’t just go in and tackle them all at once, but compartmentalizeand get into hard work to create best practices.”

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He says the multifamily market in the Midwest is starting tostabilize and see gains in occupancy, but that there’s still tomany concessions. “I think the beginning of next year we’ll startto see some improvement in the market,” Schwartz says.

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COLUMBUS-Ollie’s Bargain Outlet leased its first two locationsin the Columbus market. The mid-Atlantic’s largest retailer ofcloseout, surplus and salvage merchandise leased 30,000 square feetin Columbus Square Shopping Center and 32,000 square feet in GreatSouthern Shopping Center. Kevin James, VP and Micha Bitton,associate vice president, in Cassidy Turley’s regional office inColumbus, represented Ollie’s Outlet Bargain in leasing thelocations. Terms of the leases were not disclosed. The store inColumbus Square Shopping Center held its grand opening on June 23.The center is anchored by a Kroger’s and includes a variety ofmerchandise and service retailers, as well as restaurants andentertainment. Ollie’s Bargain Outlet will hold a grand opening inJuly in the Great Southern Shopping Center. The 605,000-square-footcenter is anchored by a Wal-Mart, Lowe’s and Kroger’s. With 13stores already spread throughout Ohio, including Cincinnati andCleveland, Ollie’s Bargain Outlet saw an opportunity to increaseits presence in the state by opening the stores in Columbus, saidJerry Altland, VP of real estate. Based in Harrisburg, PA, Ollie’soperates 94 stores in Pennsylvania, Maryland, Delaware, Ohio,Virginia, West Virginia, New York, North Carolina, New Jersey andKentucky.

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DETROIT-Hendricks & Partners handled the sale of theGreenfield Portfolio, a 151-unit REO apartment portfolio that soldfor an undisclosed price. The Greenfield Portfolio consists ofthree garden-style apartment properties, all built in 1963:Westfield Apartments, Greenview Apartments, and Harvard HouseApartments. Westfield contains 56 units, including 48 one-bedroomand eight two-bedroom units. Greenview has 33 one-bedroomapartments, while Harvard House features 62 apartments, with onestudio, 56 one-bedroom units, and five two-bedroom units. Theproperties are along Greenfield Road. The seller was Bank ofAmerica NA. The Buyer was DP Precise LLC, a Michigan limitedliability company of Denver. The transaction was negotiated by MarkRohr and Eric Taylor on behalf of the Seller.

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CHICAGO-David J. Gelfand, EVP with Colliers Bennett &Kahnweiler LLC’s Office Advisory Group, represented Chicago LawPartners LLC in its new office lease at 333 W. Wacker Dr. Thelandlord is Hines. Continuing the trend of 2010 law firm spin offs,the 6,299-square-foot transaction represents CLP’s initial foray asa standalone law firm representing trade and professionalassociations, not-for-profit organizations and business entities.The group is led by veterans Jed Mandel and Kimberly Pendo,previously partners at Neal Gerber & Eisenberg, where Mandelled the Association and Not-for-Profit Practice Group. Built in1983, 333 W. Wacker is a 36-story, 870,000-square-foot buildinglocated on Wacker Drive between Lake and Franklin streets. PatrickPhilbin with Hines handled negotiations on behalf of ownership.

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ELKHART, IN-Santelli Tempered Glass Inc., a residential glassmanufacturer, will establish its newest production facility here,creating up to 35 new jobs by 2013. The company, which manufacturestempered glass for new and replacement residential windows, willinvest more than $3.7 million to lease and equip a 32,500square-foot facility on the city's Northeast side. Santelli plansto begin hiring machine operators, plant management and maintenancestaff later this summer with operations scheduled to commence inJuly.

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SCHILLER PARK, IL-Locally-based Englewood Construction hasannounced its role in three Chicago-area projects, including thecommencement of its open-store renovation of the Express retailstore at 4104 N. Harlem Ave. in Norridge, IL. Half of the12,558-square-foot Express retail store will remain open to thepublic over the five- month renovation, said William Di Santo,president of Englewood. Di Santo also announced the completion oftwo prominent chain establishments, an approximately4,000-square-foot Noodles & Co. in River Forest, IL and gourmetcookie franchise Mrs. Fields in Orland Park Mall in Orland Park,IL.

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AURORA-Jonathan D. Kohn with Colliers Bennett & KahnweilerLLC’s Industrial Services Group represented PTS FulfillmentServices Inc. in its purchase of 3615 E. Exchange Ave. The sellerwas Duke Realty Corp. Constructed in 1986, the property is a64,800-square-foot industrial building in Aurora’s MeridianBusiness Campus. PTS will be relocating from a smaller leasedfacility in Carol Stream, IL, where it occupied approximately35,000 square feet. “PTS has experienced tremendous growththroughout its short history and required a larger facility. Theywanted to own instead of lease and we assisted with the search fora newer facility with a higher image in the Western suburbs,” saidKohn. The Aurora building was formerly occupied by PierceDistribution Services Company and has been vacant for about 5months. David Friedland with Newmark Knight Frank Epic representedDuke.

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