As the steadfast industrial mainstay Ontario Stone consolidates and streamlines its property, the company has listed a nearly five-acre parcel of land on the West Bank of the Flats with huge potential for development. Adjacent to the newly constructed Wendy Park Bridge and Whiskey Island Connector Trail, the prime location will be accessible for pedestrians and commuters alike.
The 4.517-acre property is located on the northwest corner of the Cuyahoga River and Old Riverbend Channel, south of Wendy Park with river frontage. It is completely surrounded by beauty, with the lake, river, Metroparks and Flats within steps of the site, and the city skyline dominating the eastward view. The offering provides select developers the exceptional opportunity to acquire a rare, unique development site in the heart of Downtown Cleveland.
Cleveland’s waterfront development is a hot topic right now as private and public investors are ramping up efforts to connect and transform public access to the lake. The city is abuzz with ideas for entertainment, business, retail and recreation on the water and throughout Downtown. A variety of major real estate development projects have been announced, are in construction, or have been completed recently, including the new Sherwin-Williams headquarters and the Thunderbird mixed-use project in the Flats.
Furthermore, Downtown Cleveland real estate trends continue to be positive as the city rebounds from the COVID-19 pandemic’s effects. Major employers have doubled down on their commitment to Cleveland, and demand for both residential and industrial properties remains strong. Multifamily investment hasn’t slowed as the city is reliably affordable with fantastic entertainment and nightlife.
Ontario Stone’s new listing provides an opportunity to get in early and take advantage of the lakefront boom in close proximity to these citywide enhancements. Now is the time to consider the future of this site. Contact us today to learn more.
To learn more about how CRESCO, Greater Cleveland’s leading commercial real estate company, can help you with your property needs, contact us at 216.520.1200, or fill out the form below. A CRESCO professional will contact you shortly.