Akron has been evolving over the last decade into a place to be. New development is taking place and capital is flooding in. This is due to a number of factors, but ultimately comes down to implementing collaboration that works. A great example of that is the Austin Bioinnovation Institute. The Akron Beacons's piece today discusses its background and interviews its CEO, Frank Douglas, a veteran at these enterprises. The Institute has already had $80 million in pledges over the next 5 years. (Here's their website).
We recently closed the sale of a LTACH, or long term acute care hospital, within Akron's Biomedical Corridor, and have seen first hand the movement happening in the city. The biomedical is going to lead the way, we believe, for revitlizing the city, which in turn will create great commerical property opporutnities. It seems healthcare, whether senior care or biomedical, will lead the CRE market for sometime.
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