Mega Sports Complex, SPIRE Institute, Sold to Prominent Baltimore Investment Group.

Hero Spire

CLEVELAND (December 9, 2019) – SPIRE, one of the largest sports and training facilities in the world, located in Northeast Ohio, was snatched up by an out-of-town investment group only six months after being offered for sale by Colliers International Cleveland Ohio Office.  Mark Abood and Brian Hurtuk of Colliers represented the Seller.

 

Working closely with ownership of SPIRE, Abood and Hurtuk received inquiries from around the globe almost immediately after the commencement of a broad marketing campaign that reached an international audience.

 

 “The possibilities that come with SPIRE Institute are endless. Much like the owners and developers, we wanted to think much bigger!” says Abood, Senior Vice President and Principal with Colliers. “We were not surprised when we received interest from beyond our borders, because of the uniqueness of the facility.”

 

The deal officially closed on Friday, making Axxella, based out of Baltimore, Maryland, the new owner of SPIRE. They plan to greatly expand the sports complex through the development of adjacent land, the advancement existing programming and the introduction of new and creative uses for the campus! 

 

“We recognize the importance of this complex to northeast Ohio. As we build out the programming and facility footprint of Spire to appeal to a broader local, regional, national and international audience, we will do so in ways that will cause the surrounding community to always be proud of the tremendous resource that is Spire”, said Jonathan Ehrenfeld, Axxella CEO.

 

For additional information about Colliers International in Cleveland, visit www.colliers.com/cleveland and to see the latest news, follow us on twitter @collierscle.

 

About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.


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Mark Abood

Senior Vice President | Principal

Cleveland

I am a licensed real estate salesperson, licensed attorney and licensed auctioneer with a multidisciplinary background in legal, commercial real estate, finance, leasing, due diligence, construction, government, planning, zoning and consulting. Additionally, I have served as court appointed receiver or agent to receiver in 12 Ohio counties and in Federal Court.  Those companies seeking a professional to handle all aspects of a complex commercial real estate assignment would be well-served by engaging me and my team of real estate professionals at Colliers International. Careful, thorough analysis and creative problem solving skills coupled with a balanced approach to negotiations are some of the dynamic attributes I possess when representing clients of the firm.

I am a frequent lecturer on topics of commercial real estate and auction law with appearances on all major Cleveland news stations,  The O'Reilly Factor, Plain Dealer, Crain's Cleveland Business, and other local media.  I have authored numerous articles relating to the state of commercial real estate.

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Brian Hurtuk

Managing Director | Cleveland

Cleveland

Brian A. Hurtuk, a 35 year veteran of commercial real estate, serves as Managing Director | Principal for Colliers International in Cleveland-Akron. In his role, Mr. Hurtuk provides the guidance and leadership necessary to elevate the Colliers International brand to a wide variety of clients. Mr. Hurtuk's prime focus is on recruting and business development as Market Leader for the Cleveland-Akron office originally launched in July 2012 which now boasts 45-professionals working throughout northeast Ohio.

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