Downtown Cleveland is the largest jobs hub and the largest residential downtown in the state of Ohio, according to the Downtown Cleveland Alliance. And with 31 percent population growth since 2010 — making downtown the fastest growing neighborhood in Cleveland — there’s no better place to operate your business than in the city center.
When it comes to ideal locations for starting or building your company, nothing rivals the Central Business District, which spans Euclid Avenue through downtown. Here are five reasons why you should consider having your office on Euclid Avenue in Downtown Cleveland.
1. Easily Accessible
More than 3,500 jobs have been added in the last five years, according to Downtown Cleveland Alliance, which has has accelerated the growth of Downtown Cleveland’s dense, walkable, transit-oriented urban center. In this location, your employees and clients can take advantage of a variety of mobility options, including Greater Cleveland Regional Transit Authority’s light rail, bus and trolley lines.
2. Continued Growth
According to Crain’s Cleveland Business, $8 billion of downtown investment is planned, recently completed or underway. The prosperity and growth of the Central Business District is on track to continue, making it an ideal location for your company to be part of the action.
3. Qualified Workforce
Cleveland is home to one of the youngest and most highly educated workforces in the country, according to Crain’s Cleveland Business. A 2018 housing study by Philadelphia-based Urban Partners projects that the Downtown Cleveland population will reach 30,000 by 2030. As young college graduates flock to urban centers in search of opportunity and a downtown lifestyle, they build a competitive workforce and contribute to the vibrancy of the city center.
4. Diversity & Inclusion
With a diversity score of 74 out of 100, Best Neighborhood rates Cleveland as more diverse than many other U.S. cities. In addition, the city of Cleveland’s economic development department has created several initiatives to focus on long-term economic inclusion, with the goal of bolstering consumption and savings to drive macroeconomic growth.
Real estate in Cleveland is highly affordable compared to other city centers, allowing businesses to find office space for far less than cities like Chicago or New York. In addition, housing is much more affordable for you and your employees. According to the Downtown Cleveland Alliance, the city of Cleveland, Cuyahoga County and the state of Ohio offer economic development programs designed to help businesses grow, create jobs and generate the revenue necessary to provide quality city services that help attract and retain talent.
CRESCO Property Listings in the Central Business District
The following Euclid Avenue property listings are located in the heart of Downtown Cleveland.
This 199,152 square foot (sf) medical office building, currently the Lakeview Enterprise Campus, has various suites/sizes available. It features new lobby renovations and heavy surface parking for medical or call center uses.
This office building, located on the RTA Healthline, offers excellent access to public transit and features a 150-car parking deck. Available space ranges from 14,533 SF to 50,186 SF.
The Bulkley Building has an array of flexible opportunities with endless amenities at every corner, with a max contiguous area of 79,406 sf. Available space ranges from 1,185 SF to 18,348 SF.
Aside from its prized location, the Hanna Building offers an array of flexible opportunities and features endless amenities. Available space ranges from 409 SF to 24,000 SF.
The iconic May Company Building offers retail opportunities with frontage on both Euclid and Prospect avenues. It is located on Public Square and steps from East 4th Street, with an 11,000 sf rooftop patio/bar space available. Available space ranges from 395 SF to 18,130 SF.
The Idea Center near Playhouse Square has an array of flexible opportunities with many amenities. Available space ranges from 4,261 SF to 16,301 SF.
The Lumen is a brand new, first-in-class 318-unit luxury apartment building with excellent visibility along Euclid Avenue. It’s located immediately across from Playhouse Square. Retail suites are provided in white box condition. Up to 1,940 SF of prime retail space is available for lease.
The Athlon is well-positioned between East 9th Street and Playhouse Square. Available space ranges from 5,500 SF to 9,829 SF.
This 7,017 SF high-end restaurant/nightclub space is in the heart of the Playhouse Square District, and in an upscale build-out with high quality finishes.
This 659 SF restaurant kiosk space, the former Dynomite Building, is in the heart of Playhouse Square with great visibility on Euclid Ave. It features a fully fixtured kitchen with an interior restroom and exterior-access public restroom.