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Cleveland, Ohio (Cleveland, Akron, Canton, Youngstown) ICSC 2013 Ohio/West Virginia Idea Exchange August 2013 Presented By: Chris Seelig First Vice President.

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Presentation on theme: "Cleveland, Ohio (Cleveland, Akron, Canton, Youngstown) ICSC 2013 Ohio/West Virginia Idea Exchange August 2013 Presented By: Chris Seelig First Vice President."— Presentation transcript:

1 Cleveland, Ohio (Cleveland, Akron, Canton, Youngstown) ICSC 2013 Ohio/West Virginia Idea Exchange August 2013 Presented By: Chris Seelig First Vice President | Principal, Colliers International | Cleveland 200 Public Square Suite 2005, Cleveland, Ohio

2 Cleveland, Akron, Canton, Youngstown

3 Cleveland – Akron – Canton – Youngstown Market Fast Facts Population – 4,257,604 Fastest Growing Counties: Wayne, Holmes, Lorain, Medina, Portage Growing Cities – Avon, Avon Lake, North Ridgeville, Twinsburg, Streetsboro, Medina, Strongsville, Brunswick, Green Major Employers – Cleveland Clinic Foundation, Federal Government, University Hospital, General Motors, Goodyear, Eaton Corporation, Progressive, Key Bank, First Energy, Kent State University, University of Akron, Youngstown State University Regional Draws – Lake Erie, Famous Cuisine, Cleveland Indians, Cleveland Browns, Cleveland Cavaliers, Cedar Point Amusement Park, Rock and Roll Hall of Fame, Playhouse Square, Horseshoe Casino, Thistledown Racino, Hard Rock Rocksino, Austintown Racino

4 Downtown Cleveland Downtown Cleveland’s $4 billion development boom continues to gain momentum. Top businesses are recommitting to Downtown and others are relocating. Housing remains strong leading to increased retail activity. 31 New restaurants & retail shops to date in More announced already for 2013/2014 Residential occupancy at 96.5%. Market has absorbed over 550 new residential units in the last 12 months. Nearly 1,000 additional units are in the pipeline – to be online within 18 months. Hotel occupancy over 75% in the 2 nd quarter of Six new hotels in development adding over 1,500 rooms.

5 Crocker Park 2.5 Million SF Fashionable Mixed-Use “Lifestyle” Project. $400 Million Phase 3 will add: Over one million square feet World headquarters of American Greetings Corporation with 2,000 employees 400,000 SF of additional retail and dining 400 additional residential units 150-room hotel and banquet center

6 Oakwood Commons 320,000 SF Walmart Anchored Development in South Euclid Walmart opening in 2013 Anchor, small shop and outlot opportunities

7 Beachwood Place 77,000 SF Planned Addition to Beachwood Place Mall Three Freestanding Restaurants 50,000 SF or exterior facing retail between Saks and Nordstrom Subject to November Ballot Initiatives

8 Proposed 485,000 SF Retail, Entertainment & Dining Destination Located in Orange Village. Requires referendum rezoning Zoning will require 65% of all retail tenants to be new to the market Adjacent to Chagrin Highlands Phase 2 will feature up to 200 residential units Pinecrest

9 240,000 SF Marketplace of National and Regional Retailers and Dining Located in Cuyahoga Falls. Anchored by Northeast Ohio’s third Giant Eagle Market District Store Cinemark 10 screens LA Fitness Pet Supplies Plus Portage Crossing

10 University Edge 280,000 SF Student Housing Development with First Floor Retail Located across from University of Akron’s InfoCision Stadium 18,536 SF of Retail

11 Arlington Green Retail Center 23,770 SF Redevelopment of Former Ryan’s Steakhouse in Green Trade Area Located on Arlington Road in between Walmart and Home Depot Delivery this Fall

12 Heritage Crossings of Green 110,000 SF Acme Grocery Anchored Shopping Center in Green, Ohio 77,500 SF Acme Fresh Market 31,000 SF of Shop Space July 2014 Opening

13 Retailers Expanding

14 Restaurants Expanding

15 Thank You Chris Seelig First Vice President | Principal


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