CRESCO Real Estate represented Dollar Bank in the expansion and renewal of 32,000 square feet of office space in the Tower at Erieview and the additional expansion of 20,000 square feet of office space in the Galleria Mall.

Approach

• Aggressively negotiated a lower rental rate on the expansion and renewal at  The Tower at Erieview based on current market conditions.
• Presented Landlord with the opportunity to convert non-productive rental space in the Galleria Mall to high end office space.
• Relocated Dollar Bank’s current branch located on 12th Street to the premier location of 9th Street and Lakeside Avenue.

Results

• Achieved a 20% reduction in the rental rate for the Tower at Erieview space.
• Converted 20,000 square feet of low end retail space in the Galleria to high end office space for Dollar Bank at very competitive rental rates.
• Relocated the bank branch to 9th Street and Lakeside Avenue location which enhanced the image and presence that Dollar Bank was looking to accomplish.