In the Know

I think the Ballpark Village makes alot of sense, especially given the new minority owner of the Guardians who is involved in many real estate ventures. Very deep pockets and a smart guy who may want to contol the ancilary development in the area where the team plays. Better him than an unrelated party.

Has anyone heard about Banana Republic relocating from Beachwood Place?

Regarding Starbucks... The developer needs to make the loan payment, and will need a certain number of qualifying leases in order to get construction loan draws from its lender. The developer will want a tenant like Starbucks that has a strong credit rating and can afford to pay higher rent than a local. The lender will also have approval rights on the leasing that favor national tenants even though local businesses may be preferred by the community. There could be some spaces reserved for local tenants that lender agrees to but not likely to be the prime spaces.