Industrial Commercial Properties enters winning and only bid at auction for City View Center
Michelle Jarboe/Crain s Cleveland Business
Court-appointed receiver Donald Shapiro, at right, conducts an auction for the largely vacant City View Center retail project on Thursday, Dec. 10. The only participants were representatives for the noteholder, a joint venture between Solon-based developer Industrial Commercial Properties LLC and local attorney George Simon.
A Solon-based real estate developer will take control of the failed City View Center retail project in Garfield Heights, after entering the winning and the only bid for the property.
During a brief auction Thursday morning, Dec. 10, an affiliate of Industrial Commercial Properties LLC offered $2 million for the 60-acre shopping center, which already is being repositioned as a business park.