Cleveland Food Hub
7501 Carnegie Avenue
Cushman & Wakefield | CRESCO Real Estate
represented the buyer in the transaction as they needed more space to
expand their current
operations. The project included finding a home for the new Cleveland Food Hub that was preferably in
MidTown, allowed enough space for kitchens, storage and retail space. They
required at least 50,000 SF with possible room to grow.
CRESCO and the buyer started the search in fall of 2016 to find the perfect facility. They required 50,000 SF of space, mostly used for food prep, storage and distribution. Additional money would need to be allocated to build out freezer and cooler storage, which could put them over budget if not careful. The buyer had to be in Cleveland, but preferred to be in Midtown, near their first operation.
CRESCO Real Estate located a 137,000 SF facility in MidTown that was not fully being utilized. The current tenant would entertain the idea of the sale if they could lease back part of the building for their own use. The current tenant is also in the food industry so they already had freezer and cooler space in their facility.
CRESCO was able to locate an existing facility with freezer/cooler storage and additional space for the Cleveland Food Hub to grow, all while staying in their ideal location. The Cleveland Food Hub plans to build out additional retail shops for the vendors using their kitchen space, providing a win-win for
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