cleveland, ohio (cleveland, akron, canton, youngstown)

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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 | Principal, Colliers International | Cleveland 200 Public Square Suite 2005, Cleveland, Ohio 44114 www.colliers.com

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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 | Principal, Colliers International | Cleveland. 200 Public Square Suite 2005, Cleveland, Ohio 44114 www.colliers.com. - PowerPoint PPT Presentation

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Page 1: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

Cleveland, Ohio (Cleveland, Akron, Canton, Youngstown)

ICSC 2013 Ohio/West Virginia Idea ExchangeAugust 2013

Presented By: Chris SeeligFirst Vice President | Principal, Colliers International | Cleveland

200 Public Square Suite 2005, Cleveland, Ohio 44114 www.colliers.com

Page 2: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

Cleveland, Akron, Canton, Youngstown

Page 3: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

Cleveland – Akron – Canton – YoungstownMarket Fast Facts

• Population – 4,257,604Fastest 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

Page 4: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

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.

Page 5: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

Crocker Park2.5 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

Page 6: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

Oakwood Commons

320,000 SF Walmart Anchored Development in South Euclid

• Walmart opening in 2013

• Anchor, small shop and outlot opportunities

Page 7: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

Beachwood Place77,000 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

Page 8: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

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

Page 9: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

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

Page 10: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

University Edge280,000 SF Student Housing Development with First Floor Retail

• Located across from University of Akron’s InfoCision Stadium

• 18,536 SF of Retail

Page 11: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

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

Page 12: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

Heritage Crossings of Green110,000 SF Acme Grocery Anchored Shopping Center in Green, Ohio

• 77,500 SF Acme Fresh Market

• 31,000 SF of Shop Space

• July 2014 Opening

Page 13: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

Retailers Expanding

Page 14: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

Restaurants Expanding

Page 15: Cleveland, Ohio  (Cleveland, Akron, Canton, Youngstown)

Thank You

Chris Seelig First Vice President | [email protected] 216 239 5073