Hotel to Open in Spring 2015

CLEVELAND, Ohio – January 16, 2014 – Jacobs Real Estate Services (JRES) announced today that a five-story, 116-room Residence Inn by Marriott hotel with an attached 10,000-square-foot conference center, will be constructed at its Avon Place development in Avon, Ohio.

The new Residence Inn will be located on Just Imagine Drive, adjacent to the Cleveland Clinic Richard E. Jacobs Health Center. The hotel is planned to open in spring 2015. It will be built on a 4.27-acre site that JRES has agreed to sell to Emerald Hospitality Associates, Inc. and its independent affiliate, Nimbus Investment Fund.

“We are excited that Marriott and Emerald Hospitality have chosen Avon Place. Residence Inn will be a perfect complement to the expanding Cleveland Clinic, restaurants and offices planned for this development,” said Jim Eppele, JRES executive vice president.

Residence Inn hotels are designed for extended-stay travelers, with features that include spacious suites with separate living and sleeping areas; fully equipped, in-suite kitchens; free grocery delivery service; complimentary Wi-Fi and in-room, high-speed Internet access; free hot breakfasts; a swimming pool and fitness center.

About Emerald Hospitality Inc.

Founded in 1999, Emerald Hospitality Associates is a Westlake-based, full-service hotel management and development company that provides a wide range of specialized hospitality industry services to hotel and restaurant investors. Emerald currently operates 20 properties in seven states, consisting primarily of Hilton, Marriott and Hyatt branded products. For more information, visit www.emeraldhospitality.com.

About Jacobs Real Estate Services LLC

Jacobs Real Estate Services provides comprehensive brokerage, leasing and management services for owners of office buildings, specialized-use facilities and mixed-use developments. It is an independent affiliate of The Richard E. Jacobs Group, one of the nation’s premier developers of commercial real estate with more than 50 years’ experience. For more information, visit www.JRESgroup.com.

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CLEVELAND, Ohio – December 20, 2013 – The Richard E. Jacobs Group, LLC announced today that it has completed the sale of a five-acre site on South Green Road in the Chagrin Highlands corporate community in Beachwood, Ohio, to LifeServices Assisted Living for the construction of a 52,000-square-foot, 76-unit assisted living facility.

The cost of the project is estimated at more than $10 million, and the facility is scheduled to be ready for occupancy in spring 2014. When fully operational, it will employ approximately 40 people.

It will be named Beachwood Commons Assisted Living and will provide a residential setting for seniors who need some personal assistance, but who do not require 24-hour skilled nursing care.

LifeServices General Partner Scott D. Allen said, “Like all of our facilities, Beachwood Commons will provide a unique residential setting, outstanding services and compassionate care. We had been looking to add another location in the area and, given the demographics, nearby amenities and easy highway access, Chagrin Highlands was the perfect location.”

Chagrin Highlands Ltd. is a 630-acre joint development of affiliates of The Richard E. Jacobs Group, LLC and Tyco International Ltd. that includes Eaton Corporation’s Eaton Center campus, University Hospitals Ahuja Medical Center and a number of other businesses, hotels, restaurants and retailers.

About LifeServices

LifeServices operates assisted living communities on a resident-centered philosophy. It currently has three Northeast Ohio assisted living communities in Mentor, Highland Heights and Strongsville, along with five others in Pennsylvania. Further details about LifeServices are available online at www.lifeservicesassistedliving.com.

About The Richard E. Jacobs Group, LLC

The Richard E. Jacobs Group is one of the nation’s premier developers of commercial real estate with more than 50 years experience and is headquartered in Cleveland, Ohio. Its independent affiliate, Jacobs Real Estate Services, provides comprehensive brokerage, leasing and management services for owners of office buildings, specialized-use facilities and mixed-use developments. More information is available at www.JRESgroup.com.

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Omnova Purchase of 8.5 Acres in Chagrin Highlands Finalized: Company to Build 57,000-Square-Foot Headquarters on Property

CLEVELAND, Ohio – November 7, 2013 – The Richard E. Jacobs Group LLC announced today that it has completed the sale of an 8.5-acre site in the Chagrin Highlands corporate community in Beachwood, Ohio, to Omnova Solutions (NYSE: OMN) for the construction of a planned 57,000-square-foot global headquarters.

It will be located on Harvard Road, just west of Richmond Road, and includes land for future expansion. Omnova has broken ground, will continue construction through the winter and plans to move into the new facility in late 2014.

Omnova Chairman and Chief Executive Officer Kevin McMullen said that Chagrin Highlands “is a vibrant, expanding corporate setting where we can meet our criteria around retention, growth and cost and, at the same time, enhance the value we bring to our customers. We believe it is the perfect spot to build our future.”

He added that Chagrin Highlands will provide Omnova with outstanding amenities for current and future employees and easy access to major interstate highways, airports, educational institutions and Northeast Ohio communities.

Chagrin Highlands Ltd. is a joint development of affiliates of The Richard E. Jacobs Group LLC and Tyco International Ltd.

Among Omnova’s neighbors in the 630-acre Chagrin Highlands development will be Eaton Corporation; University Hospitals; Cleveland Clinic; KeyBank; and a number of other businesses, hotels, restaurants and retailers.

Omnova now employs 110 people full time at its current headquarters and anticipates that company growth over the next five years could result in 70 additional positions at its new headquarters. It will retain its Akron-area technology center and two specialty chemical plants.

About Omnova Solutions

Omnova Solutions is a technology-based company with sales for the 12 months ending May 31, 2013 of $1.1 billion and a global workforce of approximately 2,300. Omnova is an innovator of emulsion polymers, specialty chemicals, and functional and decorative surfaces for a variety of commercial, industrial and residential end uses. Visit Omnova Solutions on the internet at www.omnova.com for more information.

About The Richard E. Jacobs Group LLC

The Richard E. Jacobs Group is one of the nation’s premier developers of commercial real estate with more than 50 years experience and is headquartered in Cleveland, Ohio. Its independent affiliate, Jacobs Real Estate Services, provides comprehensive brokerage, leasing and management services for owners of office buildings, specialized use facilities and mixed use developments. More information is available at www.JRESgroup.com.

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CLEVELAND, Ohio – October 1, 2013 – Jacobs Real Estate Services (JRES) announced today that it has signed an agreement to sell a 4.27-acre site on Just Imagine Drive in Avon, Ohio, to Emerald Hospitality Associates, Inc., in conjunction with its independent affiliate, Nimbus Investment Fund.  Emerald plans to develop a 110- to 125-room, Marriott-branded hotel with an attached 5,000-square-foot conference center. The hotel, which will sit adjacent to the Cleveland Clinic Richard E. Jacobs Health Center, is planned to open in fall 2014.

The Marriott-branded hotel kicks off the 132-acre, master-planned development, which will be known as Avon Place. It will include a mix of offices, hotels, restaurants, medical facilities and other related developments. JRES also has two additional signed land sale agreements for Avon Place, which will be announced in the coming weeks.

“We are excited to be bringing a Marriott-branded hotel to complement the highly successful Cleveland Clinic facility,” said James Eppele, executive vice president at JRES. “Emerald Hospitality’s expertise in developing and managing first-class select service hotels is a perfect fit with the type of development we intend to bring to Avon Place.”

About Emerald Hospitality Inc.

Founded in 1999, Emerald Hospitality Associates is a Westlake-based, full-service hotel management and development company that provides a wide range of specialized hospitality industry services to hotel and restaurant investors. Emerald currently operates 21 properties in seven states, consisting primarily of Hilton, Marriott and Hyatt branded products. For more information, visit www.emeraldhospitality.com.

About Jacobs Real Estate Services LLC

Jacobs Real Estate Services provides comprehensive brokerage, leasing and management services for owners of office buildings, specialized-use facilities and mixed-use developments. It is an independent affiliate of The Richard E. Jacobs Group, one of the nation’s premier developers of commercial real estate with more than 50 years’ experience. For more information, visit www.JRESgroup.com.

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