Announcing CRESCO’s Playhouse Square Real Estate Portfolio
Cushman & Wakefield | CRESCO is proud to announce our partnership with Playhouse Square. Our team of real estate professionals will lead leasing and brokerage for Playhouse Square’s one million square feet of office and retail spaces in Cleveland’s vibrant Theater District.
Perhaps unprecedented, Playhouse Square owns and operates its real estate portfolio to support the organization’s arts operations; their commitment to the success of their real estate portfolio — and the development of the entire surrounding district — is unparalleled as an owner. It’s evident in the investments they make in their properties and their ambition for the district.
Playhouse Square Real Estate Portfolio
Downtown Cleveland’s Playhouse Square is home to 5,000 employees and 200 businesses. Is your organization interested in contributing to the city’s cultural development and economic growth by leasing commercial space in Playhouse Square?
Playhouse Square owns and manages the most treasured real estate in Cleveland. The office and retail assets available for lease in Cleveland’s Theater District include:
Hanna Building: Nestled in the heart of Playhouse Square, the Hanna Building is one of Cleveland’s most significant historical buildings. Desirable location for accountants, architects, attorneys, and sales associates who come and go from the office frequently. Encompassing 16 floors and over 337,000 SF, the building offers space in sizes from 500 to 24,000 SF.
Bulkley Building: An understated gem in the Playhouse Square portfolio is the historic Bulkley. Tenants in the Bulkley benefit from numerous amenities including a common building conference center, a convenience store, four restaurants and a bank. Encompassing 9 floors and over 157,000 SF, the Bulkley Building offers both office and retail space.
Idea Center: After being donated to Playhouse Square in 2005, the Idea Center was gutted and completely renovated with a state-of-the-art infrastructure that supports television and radio studios, a robust arts education program, rapidly growing technology companies. A popular choice for tenants looking for a new construction in a historic environment.
More information on Playhouse Square’s portfolio can be accessed at: www.crescorealestate.com/PlayhouseSquare
Playhouse Square: The Pride of Cleveland
Downtown Cleveland’s Playhouse square is the largest performing arts center in the nation outside New York City. In an ordinary year, more than one million guests visit Playhouse Square to enjoy the performing arts.
Originally constructed in the early 1920s, Playhouse Square served as a hotspot for plays, vaudeville shows and silent films for more than 40 years. During the 1960s, the rise of TV and suburbanization led to the eventual closing of four of the center’s five theaters. Playhouse Square became subject to neglect and vandalism, and fell into disrepair.
In the following decade, a grassroots plan to revive the four shuttered theaters was launched. Restoration began in earnest during the 1980s and continued until 1999. The saving of Playhouse Square is regarded as “one of the top ten successes in Cleveland history.” Three decades later, Playhouse Square remains the pride of downtown Cleveland. This vibrant theater district now boasts ten theaters and several resident performing companies.
Nathan Kelly, president and managing director of Cushman & Wakefield | CRESCO, has been a critical player in the revitalization of downtown Cleveland, leading projects that included the redevelopment of the Playhouse Square District.
“What started as an effort to save some theaters has blossomed into Cleveland’s finest, most complete neighborhood for entertainment, living and business,” said Kelly. “We share Playhouse Square’s commitment to strengthening the economic vitality of the region, which is why we’re flattered to lead leasing for these epic office and retail properties.”
Managing a diverse and successful real estate portfolio that advances Cleveland’s performing arts operations is of vital importance to our city’s cultural and economic development. Cushman & Wakefield | CRESCO looks forward to working with Playhouse Square Real Estate Services to bring more businesses to Playhouse Square and strengthen the country’s largest performing art center outside New York City.
“Businesses are searching for locations that are tailored to their needs, and are easy to access in a location their talent enjoys,” explains Kelly. “This is it.”
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.