Land and building sales, plus major leases, redevelopments and new construction involving an office building, coffee shop, health clinic and 12-story mixed-use apartment tower were among the 2013 Deal of the Year awards announced recently by the Madison-based Commercial Brokers Group.

The fourth-annual contest, aimed at recognizing the most notable commercial real estate transactions in the Madison area, also serves the broader purpose of helping to take the temperature of the local economy. Signs of improvement included the contest receiving more than twice the number of submissions as a year ago, more than 30. Submitted deals also had larger and longer leases, and more build-to-suit transactions, in which landlords agree to build a new space to the specific requirements of a prospective tenant.

This tells us that companies are more confident making a commitment to growing their business, and they feel Madison is a viable location to do that, said TJ Blitz, past president of the commercial brokers group and managing principal of Cresa Madison.

Contest entries were judged by an independent panel of industry affiliate professionals based on factors including a deals size, dollar volume, difficulty, uniqueness and community contribution.

The winners were:

Office:Lease and redevelopment of 1414 Park St. in Madison for a $1.6 million Meriter Health Services physical therapy clinic, including 10,000 rentable square feet and a 2,600-square-foot building addition.

Agents: Christina Podoll of Sara Investment Real Estate and Steve Doran of Lee & Associates.

Retail:Lease of 3,000 square feet in the Tenney Building on Madisons Capitol Square for the Alterra/Colectivo coffee shop.

Agent: John Bergh of White Box Commercial Property Group.

Industrial:Lease and new construction of a 64,000-square-foot building at 6651 Femrite Drive in Madison for Ikaria, a company that develops and delivers therapeutics and interventions for critically ill patients.

More here:
Commercial real estate deal-of-the-year awards offer window on improving local economy

The office of the Mason County Chapter of the American Red Cross will relocate later this month to allow for renovations of its current space for the local parole and probation office.

Approval was given Thursday by Maysville Board of Commissioners to contract with K&M Gerike Construction in the amount of $47,092 to renovate the space at 101 East Second Street. The building is owned by the city's Public Building Corporation, which rents the space to the Kentucky Department of Corrections, Division of Parole and Probation for $21,000 per year.

The Red Cross office will relocate to Maysville Fire Station No. 2, at Kentucky 9 and Kenton Station Road. City Manager Ray Young said improvements to the existing office space at the fire station should be completed by April 1.

The office building housing the parole and probation office will undergo renovations to restroom facilities for compliance with the American with Disabilities Act. The renovation will add more office space for the staff and is expected to be complete by July 1, Young said.

In other business, commissioners:

-- Awarded a contract to Straight Edge Construction of Brooksville in the amount of $58,860 to replace sidewalks on East Third Street.

Young said the project is being funded by state grant money in the amount of $100,000. The initial phase of the contract will replace sidewalks on the south side of East Third Street from the Cox Building at Market Street to the Maysville Motel at Government Street. Because the contract bid came in at a lower cost, the balance of the grant money will be used to replace sidewalks from Government Street to the Mason County Public Library at a later date.

Work is scheduled to begin as soon as weather conditions improve and should take three to four weeks to complete.

-- Accepted the resignation of Officer Brittani Price from the Maysville Police Department.

-- Approved a resolution marking April 1 as National Service Recognition Day in support of local volunteer groups. Members of RSVP, Foster Grandparents and AmericorpVISTA were in attendance at the meeting and were acknowledged by city officials for their volunteer service.

See the article here:
Local Red Cross office moving to new location

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