Business Services Industry
N.J. investors agree to finance Beachwood bldg.
Crain's Cleveland Business, June, 1998
Prudential Real Estate Investors of Newark, N.J., is providing $5.5 million in financing for an office building in Beachwood. The borrower is 3300 Enterprise Co. Ltd., a firm affiliated with Bart Simon, president of North Pointe Realty in Mayfield Heights. The 45,000-square-foot building, 3300 Enterprise Parkway, is fully leased to Medusa Corp.
of Cleveland Heights. Medusa shareholders and those of Southdown Inc., a Houston-based cement company, earlier this month approved a merger that takes effect Tuesday, June 30. Mr. Simon said Medusa has signed a 15-year lease for the three-story building, although it doesn't plan to occupy it. The merged company will be based in Houston. The firms have not worked out the disposition of headquarters jobs here or plans for the building.
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