Transcript Cleveland - International Council of Shopping Centers

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 44114 www.colliers.com
Cleveland, Akron, Canton, Youngstown
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
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 2013
• 22 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 2nd quarter of 2013.
Six new hotels in development adding over 1,500
rooms.
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
Oakwood
Commons
320,000 SF Walmart Anchored
Development in South Euclid
• Walmart opening in 2013
• Anchor, small shop and outlot
opportunities
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
Pinecrest
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
Portage
Crossing
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
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
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
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
Retailers Expanding
Restaurants Expanding
Thank You
Chris Seelig First Vice President | Principal
[email protected] 216 239 5073