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Heritage Development Co. Becomes McGill Property Group

SOLON, OH-John McGill, a longtime partner with Bert Wolstein in Heritage Development Co., acquires the majority of that company's commercial and mixed-use assets and forms McGill Property Group.

By Brian K. Miller | Updated on October 24, 2004

SOLON, OH-John McGill, Bert Wolstein’s longtime partner in Heritage Development Co., has completed his acquisition of a majority of his former company’s commercial and mixed-use assets and, thereby, officially launched his new venture McGill Property Group.Wolstein, who passed away earlier this year, founded Heritage Development in 1997, after founding and running Developers Diversified. McGill, who had worked with Wolstein at Developers Diversified, joined Heritage in 1999. The new company has leased office space in Solon, bringing with it 12 employees from the former Heritage Development Co. It begins with ownership or managing interests in 16 retail and mixed-use centers, representing in excess of three million sf, as well as developable land. The properties are located in Ohio, Florida, Maryland, Pennsylvania, Texas, Kentucky and Oklahoma.McGill says the focus of the new company will stay on shopping centers and larger scale mixed-use developments. “My colleagues and I are very excited about entering this new phase of our business,” John McGill, president of McGill Property Group, says. “The loss of my longtime friend and partner Bart Wolstein is with me every day, and I am moving forward to complete the vision in commercial and mixed-use development.”One of the larger projects McGill currently has under development is City View Center in Garfield Heights. The 650,000-sf retail center broke ground in February with signed tenants including Wal-Mart, Circuit City, Bed Bath & Beyond, JoAnn Stores, OfficeMax, Dick’s Sporting Goods and Giant Eagle. The project is being developed on a former landfill site with approval from the Ohio Environmental Protection Agency. It is expected to open in mid-2005.

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