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I think that's fair.

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

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As much as I like IKEA's stuff personally (the computer table on which I'm typing this message is from IKEA), I don't really see any game-changing aspect for having one in greater Cleveland, other than from a 'keeping up with the Jones' ' aspect... IKEAs are classic sprawl-inducing, big-box stores that just so happens to focus on unique, Swedish furniture, but sit out near freeway exits surrounded by seas of asphalt parking.  And since my personal focus, especially on this website, is toward building up cities' urban density, walkability -most particularly that of hometown Cleveland in its downtown and other transitionally urban areas, IKEA really doesn't excite me.

 

But you're forgetting that it's EXTREMELY popular in growing urban areas with large populations of 20-somethings.  You may not like their model, but you might like the people that shop there.  Walk into any condo in downtown Toronto and you'll see quite a few Ikea furnishings.....

^ well that has always been pretty clearly known, but geez to see it on a list like that is really in your face. i just dont get the ikea footdragging. it reminds me of starbucks, which was also late in the game in coming to the area as well (at least there were reasons for that as cle had its own established coffee culture). i think they must have heard clev has a bad rep or something, there is no other explanation. they just use the pitts store as a politely swede excuse.

 

The problem is that you can look at 20-30 of the fop upscale or trendy retailers --- and the list looks much the same for them (all or most major metros but CLE have a store in them...) I know, because I keep a list like this... Container Store, Louis Vuitton (freestanding), Burberry, etc...

 

Mind if you please share the list :) I think I Remember seeing it on UO a while ago but it might have been erased with the purge from 2013.

Edale: yes Dayton is near Cincy IKEA (as this former resident knows). Census wise and media market wise... they are separate... (Though only Cleveland/Akron are combined by Census though Canton runs directly into them ....) Both markets are of similar size, yes

^Yes, Cincinnati and Dayton are separate MSAs, just as Cleveland and Akron are.  One would think Akron-Canton would be a large enough area to support it's own media market like Dayton, but their inclusion in Cle's media market definitely makes it quite a bit larger than Cincinnati's. Does NE Ohio also have just one set of radio stations, or does Akron have its own stations?  Sorry for getting us off topic, I find the discussion of media market to be oddly interesting.

Whether or not this happens will be driven in part by minimum wage laws.

 

Doubtful. With the way many corporations behave these days, if it can save them a buck, the minimum wage laws will be nothing but a red herring excuse.

^Yes, Cincinnati and Dayton are separate MSAs, just as Cleveland and Akron are.  One would think Akron-Canton would be a large enough area to support it's own media market like Dayton, but their inclusion in Cle's media market definitely makes it quite a bit larger than Cincinnati's. Does NE Ohio also have just one set of radio stations, or does Akron have its own stations?  Sorry for getting us off topic, I find the discussion of media market to be oddly interesting.

 

I think the listing above is confusing MSAs with CSAs.  Cleveland and Akron and Canton are separate MSAs, but were recently combined into one CSA.  The numbers are still off, however, as the new CSA has over 3.5mill pop.

And if you drew a concentric circle 60 miles, or a 1-hour drive out from Cleveland's Public Square, now we're talking 4 million people.

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

 

^Yes, Cincinnati and Dayton are separate MSAs, just as Cleveland and Akron are.  One would think Akron-Canton would be a large enough area to support it's own media market like Dayton, but their inclusion in Cle's media market definitely makes it quite a bit larger than Cincinnati's. Does NE Ohio also have just one set of radio stations, or does Akron have its own stations?  Sorry for getting us off topic, I find the discussion of media market to be oddly interesting.

 

They each are treated as separate MSAs or metros by Arbitron with separate  radio stations.  However some like WTAM are 50k watts and spill into all 3.

 

And if you drew a concentric circle 60 miles, or a 1-hour drive out from Cleveland's Public Square, now we're talking 4 million people.

 

And if you did the same for Columbus... You get the same 2MM in their metro...

And if you drew a concentric circle 60 miles, or a 1-hour drive out from Cleveland's Public Square, now we're talking 4 million people.

 

And if you did the same for Columbus... You get the same 2MM in their metro...

 

Don't say that, Columbus is the shinning star of Ohio, somehow you have to spin those population numbers into a positive.  Either way, it would be nice to see a store in Cleveland because the market is there, but I highly doubt Cleveland/NE Ohio will be getting one now or at least for a very long time.

^ But surely Ikea knew they were opening the Columbus store when they were doing the land deal in Brooklyn, right? That makes me think that Ikea is still seriously considering Cleveland. We'll just probably have to wait longer now...

Ikea feels it lends itself to large university areas  I agree Cleveland is long overdue for one.

^Northeast Ohio has around 150,000 college students.

And if you drew a concentric circle 60 miles, or a 1-hour drive out from Cleveland's Public Square, now we're talking 4 million people.

 

And if you did the same for Columbus... You get the same 2MM in their metro...

 

Don't say that, Columbus is the shinning star of Ohio, somehow you have to spin those population numbers into a positive.  Either way, it would be nice to see a store in Cleveland because the market is there, but I highly doubt Cleveland/NE Ohio will be getting one now or at least for a very long time.

 

Not sure if you're being facetious with the "shining star of Ohio" moniker for Columbus or not. Hey, I get that things are going well there - when once-thriving, grittier, big brother Cleveland is redefining/finding itself... But everyone I know in Columbus loves to kick Cleveland/throw it under the bus as a has-been vs their beloved Columbus - where the grass cuts itself and money grows on trees - and I get a bit resentful about that, I must admit..

 

Either way, it was nice to see that the real estate manage for IKEA said this today: "We haven't committed to anything (in Cleveland), but we feel it's a different (retail) market from Columbus given its size."" - which clearly notes that Cleveland/NEO - with nearly twice the population (the same article in the Columbus Business First noted Columbus metro population at 1.97MM) - is worthy of a store and likely will be getting one. I know from past reports that they've been looking for at least 15 yearns.. so it's about time, right?  (Nearby-enough cities St Louis and Kansas City had new stores announced about 15 months apart in 2012-2013)

 

http://www.bizjournals.com/columbus/blog/2015/01/ikea-scouted-several-sites-before-finding-just-the.html

 

 

 

 

^Yes, Cincinnati and Dayton are separate MSAs, just as Cleveland and Akron are.  One would think Akron-Canton would be a large enough area to support it's own media market like Dayton, but their inclusion in Cle's media market definitely makes it quite a bit larger than Cincinnati's. Does NE Ohio also have just one set of radio stations, or does Akron have its own stations?  Sorry for getting us off topic, I find the discussion of media market to be oddly interesting.

 

They each are treated as separate MSAs or metros by Arbitron with separate  radio stations.  However some like WTAM are 50k watts and spill into all 3.

 

 

There's a ton of spillover even on the FM end.  This is why WONE has Jeff Kinsbach doing morning drive. 

 

Northern Summit County identifies more or less equally with the two cities.  Is there a similar region between Dayton and Cincinnati?

^And all NEO except for Youngstown share the TV market.

Northern Summit County identifies more or less equally with the two cities.  Is there a similar region between Dayton and Cincinnati?

 

Yes.  Warren and Butler Counties.  Springboro would be like Hudson.

"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

And if you drew a concentric circle 60 miles, or a 1-hour drive out from Cleveland's Public Square, now we're talking 4 million people.

 

And if you did the same for Columbus... You get the same 2MM in their metro...

 

Don't say that, Columbus is the shinning star of Ohio, somehow you have to spin those population numbers into a positive.  Either way, it would be nice to see a store in Cleveland because the market is there, but I highly doubt Cleveland/NE Ohio will be getting one now or at least for a very long time.

 

Not sure if you're being facetious with the "shining star of Ohio" moniker for Columbus or not.

 

Facetious I was.  Central Ohio market compared to NEO are two different leagues.  The Brooklyn deal I think is really just speculation, and really, you haven't heard anything from IKEA since.  I think it will be a long time before IKEA comes to Cleveland.  I look at it as one store, nothing major.  The NEO market makes the most sense,  but it is what it is.

 

The difference between Kansas/Missouri and NEO is the density of not only the population but the range of IKEA stores in relation to one another.  The KC market takes care of portions of Iowa, Kansas, Oklahoma, and Missouri.  Same goes with STL and its market to the surrounding region.

 

And then I could be wrong and IKEA will announce soon a store in Metro Cleveland.  They are on expansion mode in North America.

 

Northern Summit County identifies more or less equally with the two cities.  Is there a similar region between Dayton and Cincinnati?

 

Yes.  Warren and Butler Counties.  Springboro would be like Hudson.

 

I lived in northern Summit Cty in Hudson for a decade and I don't think anyone had pretty much ever heard of or been to Cleveland (city or suburbs...) Only mildly joking.  It was like some far off land even though downtown was only a few minutes longer a drive than from my current Chagrin Falls address and Beachwood, etc was only 30 minutes. These were Akron people... Summit Mall was the mall, etc...  (I was always "Cleveland"...)

 

With that said I used to live in southern part of Dayton, worked in between Cin/Day in Middletown, and tthat middle part between cities was sort of a 30 minute drive worths of no man's land... CLeveland/Akron/Canton seem to flow much more directly together than Cin/Day (undeveloped nationL park land aside) but know things have changed in 20 years since I lived there.

 

 

 

W

Northern Summit County identifies more or less equally with the two cities.  Is there a similar region between Dayton and Cincinnati?

 

Yes.  Warren and Butler Counties.  Springboro would be like Hudson.

 

I lived in northern Summit Cty in Hudson for a decade and I don't think anyone had pretty much ever heard of or been to Cleveland (city or suburbs...) Only mildly joking.  It was like some far off land even though downtown was only a few minutes longer a drive than from my current Chagrin Falls address and Beachwood, etc was only 30 minutes. These were Akron people... Summit Mall was the mall, etc...  (I was always "Cleveland"...)

 

With that said I used to live in southern part of Dayton, worked in between Cin/Day in Middletown, and tthat middle part between cities was sort of a 30 minute drive worths of no man's land... CLeveland/Akron/Canton seem to flow much more directly together than Cin/Day (undeveloped nationL park land aside) but know things have changed in 20 years since I lived there.

 

W

 

Very true.  It's the northern section with the Nordonia towns and Twinsburg where it's kind of split.

 

Walton Hills as well a little bit, even though its in Cuyahoga County.  I would be highly unsurprised if WH tried to switch counties at some point.

The growth in the 75 corridor between the northern Cincy suburbs of West Chester, Liberty Township, Monroe, etc. and the southern Dayton burbs of Springboro, Franklin Twp., Miamisburg, etc. has been  incredible in the last 20 years. In what used to be no mans land, there is now sprawl almost entirely continuously between the two metro areas.  In addition to the normal car dealerships, strip malls, and sprawly subdivisions, there are also big developments such as the Cincinnati Premium Outlets, Miami Valley casino, a new "lifestyle center" currently being built by Steiner (Easton). Both Cincinnati and Dayton Children's hospitals have established very visible outputs in this area, definitely competing for the same patients. The Cin-Day area has really grown to be its own sprawly beast, and I don't think residents really identify strongly with either core city.

With that said I used to live in southern part of Dayton, worked in between Cin/Day in Middletown, and tthat middle part between cities was sort of a 30 minute drive worths of no man's land... CLeveland/Akron/Canton seem to flow much more directly together than Cin/Day (undeveloped nationL park land aside) but know things have changed in 20 years since I lived there.

 

Yeah, that's pretty much null and void now (that no man's land).  It's pretty much developed and edale is correct, residents really don't identify with eitehr core city strongly.  They use Dayton for certain things; Cincinnati for other things.

"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

I think it will be a long time before IKEA comes to Cleveland.

 

Miss has gone and jinxed you all now!

 

The IKEA U.S. scorecard... Top 35 markets:

 

Rank Metro Area 2010 Census Population IKEA (Open or announced)

1 New York - 22,085,649 - YES

2 Los Angeles - 17,877,006 - YES

3 Chicago - 9,686,021 - YES

4 Washington, DC - 8,572,971 - YES

5 Boston - 7,559,060 - YES

6 San Francisco - 7,468,390 - YES

7 Dallas - 6,731,317 - YES

8 Philadelphia - 6,533,683 - YES

9 Houston - 6,051,363 - YES

10 Atlanta - 5,618,431 - YES

11 Miami - 5,564,635 - YES

12 Detroit - 5,218,852 - YES

13 Seattle - 4,199,312 - YES

14 Phoenix - 4,192,887 - YES

15 Minneapolis - 3,615,902 - YES

16 Cleveland/Akron/Canton - 3,286,359 - NO

17 San Diego - 3,095,313 - YES

18 Denver - 3,090,874 - YES

19 St. Louis - 2,878,255 - YES

20 Orlando - 2,818,120 - YES

21 Tampa - 2,783,243 - YES

22 Sacramento - 2,461,780 - YES

23 Pittsburgh - 2,447,393 - YES

24 Charlotte - 2,402,623 - YES

25 Portland - 2,226,009 - YES

26 Cincinnati - 2,172,191 - YES

27 San Antonio - 2,142,508 - NO

28 Kansas City - 2,104,853 - YES

29 Indianapolis - 2,080,782 - NO

30 Columbus - 2,071,052 - YES

31 Las Vegas - 1,995,215 - YES

32 Austin - 1,759,039 - YES

33 Milwaukee - 1,751,316 - NO

34 Raleigh-Durham - 1,749,525 - NO

35 Salt Lake City - 1,744,886 - YES

 

 

 

Not to nitpick, but I think Dayton has to be added to Cincinnati's figure in this case.  The store is located 20 miles north of downtown on 75, placing it just about 30 miles from Downtown Dayton, and I think that was definitely intentional.  With the Dayton numbers added, the pop. would be a little over 3 million, placing it right around Denver, and closer to the top 15 markets.  Also, whenever I go to the Cincinnati Ikea, I see cars in the parking lot from Indy, Columbus, Lexington, and Louisville, so I think Ikea might have different metrics for store location than just metro population.  Seems like they might take more of a regional approach, which makes it even more surprising the NE Ohio doesn't have a store. I think Cleveland/NE Ohio should have had an Ikea a while ago, and it's a little perplexing that there is still not a store in operation in the region. 

 

ne ohio isnt a region? while i do agree with ypu about ikea and selective regionality, its become tapped out over time as the novelty factor of ikea has dropped off (similar to starbucks). i would look for them to open more stores in the near future.

speaking of opening more stores, target is closing across canada, but now uniqlo is opening its first two stores in canada in toronto. they have 39 us stores currently, because they focus mainly on asia, but have ambitious plans to have 1000 usa stores by 2020. it would seem like a good time to make a pitch for one (they are kind of like a cooler japanese version of zara/the gap):

 

http://m.huffpost.com/ca/entry/6546240

 

Well I know uniqlo management from Japan has at least been to Cleveland in the last year, as a local company has been working on their website and there were a series of meetings here.

Uniqlo sound like a good fit for the NuCLEus project. Or maybe the retail component for the Garfield Building.

The IKEA U.S. scorecard... Top 35 markets:

 

Rank Metro Area 2010 Census Population IKEA (Open or announced)

1 New York - 22,085,649 - YES

2 Los Angeles - 17,877,006 - YES

3 Chicago - 9,686,021 - YES

4 Washington, DC - 8,572,971 - YES

5 Boston - 7,559,060 - YES

6 San Francisco - 7,468,390 - YES

7 Dallas - 6,731,317 - YES

8 Philadelphia - 6,533,683 - YES

9 Houston - 6,051,363 - YES

10 Atlanta - 5,618,431 - YES

11 Miami - 5,564,635 - YES

12 Detroit - 5,218,852 - YES

13 Seattle - 4,199,312 - YES

14 Phoenix - 4,192,887 - YES

15 Minneapolis - 3,615,902 - YES

16 Cleveland/Akron/Canton - 3,286,359 - NO

17 San Diego - 3,095,313 - YES

18 Denver - 3,090,874 - YES

19 St. Louis - 2,878,255 - YES

20 Orlando - 2,818,120 - YES

21 Tampa - 2,783,243 - YES

22 Sacramento - 2,461,780 - YES

23 Pittsburgh - 2,447,393 - YES

24 Charlotte - 2,402,623 - YES

25 Portland - 2,226,009 - YES

26 Cincinnati - 2,172,191 - YES

27 San Antonio - 2,142,508 - NO

28 Kansas City - 2,104,853 - YES

29 Indianapolis - 2,080,782 - NO

30 Columbus - 2,071,052 - YES

31 Las Vegas - 1,995,215 - YES

32 Austin - 1,759,039 - YES

33 Milwaukee - 1,751,316 - NO

34 Raleigh-Durham - 1,749,525 - NO

35 Salt Lake City - 1,744,886 - YES

 

 

 

Not to nitpick, but I think Dayton has to be added to Cincinnati's figure in this case.  The store is located 20 miles north of downtown on 75, placing it just about 30 miles from Downtown Dayton, and I think that was definitely intentional.  With the Dayton numbers added, the pop. would be a little over 3 million, placing it right around Denver, and closer to the top 15 markets.  Also, whenever I go to the Cincinnati Ikea, I see cars in the parking lot from Indy, Columbus, Lexington, and Louisville, so I think Ikea might have different metrics for store location than just metro population.  Seems like they might take more of a regional approach, which makes it even more surprising the NE Ohio doesn't have a store. I think Cleveland/NE Ohio should have had an Ikea a while ago, and it's a little perplexing that there is still not a store in operation in the region. 

 

ne ohio isnt a region? while i do agree with ypu about ikea and selective regionality, its become tapped out over time as the novelty factor of ikea has dropped off (similar to starbucks). i would look for them to open more stores in the near future.

 

I meant more like super regional. Up until the Columbus store opens, the Cincy Ikea is the closest store for the metros of Cincinnati (~2mil), Columbus (~2mil), Indy (~2mil), Louisville (~1.4), Dayton (~800,000), and Lexington (~500,000).  That's a 'super region' of almost 9 million people that the store draws from.  NE Ohio is a large region to be sure, but its nearest out of state metros are Pittsburgh which has a store, and Toledo which is much closer to Detroit's store.

Goodbye Target, hello Uniqlo! Canada's next player

Krystina Gustafson | @KrystinaGustafs

Monday, 26 Jan 2015 | 11:41 AM ET

 

As one retailer closes the book on its Canadian operations, another is writing its first chapter there.

 

Japanese-owned specialty store Uniqlo said Monday that it will open two flagship locations in Toronto in fall 2016, its first stores in Canada. It then plans to expand its presence with a shop in Vancouver.

 

"Entering the Canadian market is a milestone for the company and a significant step in our growth strategy," said Larry Meyer, CEO of Uniqlo USA and Canada.

 

Uniqlo's announcement comes 1½ weeks after Target said it will shutter its 133 Canadian stores, less than two years after entering the market.

 

MORE:

http://www.cnbc.com/id/102368108#.

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

I wondered why Uniqlo wasn't in Canada yet, particularly Toronto, given its hip/trendy reputation; but the whole retailing industry is very different in Canada with lots of rules and regulations not found in the US. Also with Target the big complaint was that the Canadian stores were not stocked with the same merchandise as American stores; or not being stocked adequately at all, according to shoppers. This also apparently was a similar problem after J. Crew opened there. A lot of Canadians have visited these large chains in the US and are invariably disappointed when they open in Canada. Target really blew it. As a matter of fact, lots of big chains popular with Canadians will not, or maybe cannot, open there--Trader Joe's is a notable example. Since Uniqlo is Japanese maybe they will have a better strategy.

I went to Target in Montreal last year and it was pretty disappointing, but getting back to Cleveland - a smaller Target downtown would be quite nice in the May Co building with stores such as Uniqlo and such in Nuclues. A retail district to compliment the restaurant district already there would be wonderful!

Big Fun is closing their Clifton Boulevard location.

 

That section of Clifton is dying -- the huge vacant lot at West 117th and Clifton is sucking the life out of the area because Giant Eagle is holding the neighborhood hostage with its selfish deed restriction on the site.

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

Big Fun is closing their Clifton Boulevard location.

 

That section of Clifton is dying -- the huge vacant lot at West 117th and Clifton is sucking the life out of the area because Giant Eagle is holding the neighborhood hostage with its selfish deed restriction on the site.

 

Wow, that place was like the anchor business on that stretch.

 

Does anyone even still go to Papa Nicks? Tick Tock Tavern? The nondescript Asian restaurant?

Wow, that place was like the anchor business on that stretch.

 

Does anyone even still go to Papa Nicks? Tick Tock Tavern? The nondescript Asian restaurant?

 

Yes it was. But the restaurants (including Clifton Diner, Twist, etc) are the only things still in business in this stretch. Pretty amazing, considering the CVS at West 117th/Clifton is the highest-grossing CVS in Ohio.

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

But the restaurants (including Clifton Diner, Twist, etc) are the only things still in business in this stretch.

 

That's a bit of an overstatement. If you're talking about that whole stretch, then you should also include Anytime Fitness and Starbucks (which I wouldn't really call a restaurant). And what about that Flower Child vintage shop? Is that still there?

Yeah, it is an overstatement because it's probably affected me more, personally. Since I've moved here in 1996, I've lost my grocery store (Giant Eagle) and my bank (Charter One) along with a few other places that haven't been replaced. But I'm thinking more about the block closest to West 117th. The vacancies there have lasted way too long (including the church), which concerns me as much as the vacant lots that have persisted directly to the south of me, at Detroit Avenue and Beach Avenue where Fairchild Chevy was. When I see large vacant lots persisting for many years, it makes me real nervous.

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

Sad News: Big Fun on Clifton is closing. Good News: Everything in the store is 50% OFF! http://t.co/EDr3m6jD8S

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

As much as I like IKEA's stuff personally (the computer table on which I'm typing this message is from IKEA), I don't really see any game-changing aspect for having one in greater Cleveland, other than from a 'keeping up with the Jones' ' aspect... IKEAs are classic sprawl-inducing, big-box stores that just so happens to focus on unique, Swedish furniture, but sit out near freeway exits surrounded by seas of asphalt parking.  And since my personal focus, especially on this website, is toward building up cities' urban density, walkability -most particularly that of hometown Cleveland in its downtown and other transitionally urban areas, IKEA really doesn't excite me.

 

I hear ya. For me, it's more the fact that Clevelanders have to drive to Sh*tsburgh (and maybe now Columbus) in order to shop there. If people like going to Ikea, I'd rather them be able to do it here than have to travel to another state or city.

 

Point well taken... Can't deny IKEA has some good stuff.  And, yes, why should other towns have it while Cleveland's singled out in not having one?... I just wish we could get some of the downtown stores that some of these cities have as well..

 

I completely agree with that. Yesterday on WCPN Joe Marinucci was talking about how DCA's focus has been primarily on local, independent retailers. He also mentioned how Steelyard Commons is close by for downtown residents that want to go to a big box store. That's all great...unless you live downtown and don't have a car (like me). A trip to the Steelyard Target via the 81 bus can easily be a 2 hour endeavor on the weekend.

 

So then maybe we need a nonstop direct route from downtown to Steelyard. Is that bus nonstop or are there stops along the way?

Here's the #81 route map and schedule:

http://www.riderta.com/sites/default/files/schedule-pdfs/81_0.pdf

 

All RTA buses make all stops (when stops are requested) along their routes except in rare circumstances such as for temporary detours.

 

It takes 29-32 minutes from Public Square to Steelyard Commons during the day, and 19 minutes overnight since the 81 doesn't go view Lakeview Terrace or via West 7/Starkweather.

 

Wouldn't it be cool if GCRTA and Dan Gilbert offered a self-propelled shuttle train service from Tower City to Independence with stops at West 7th/St Theodosius, Steelyard, Old Harvard/Zoo, Granger/Brecksville, Rockside? CVSR estimated the capital cost at about $20 million a few years ago -- roughly equal to the cost of a 1,000-car parking deck. CVSR already has the self-propelled diesel rail cars, but they need some fixing up.

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

Market Trend: Cleveland's Retail Vacancy Decreases to 7.7%

Net Absorption Positive 608,764 SF in the Quarter

By Bryce Meyers

February 6, 2015

 

The Cleveland retail market experienced a slight improvement in market conditions in the fourth quarter 2014.

 

The vacancy rate went from 7.9% in the previous quarter to 7.7% in the current quarter. Net absorption was positive 608,764 square feet, and vacant sublease space increased by 12,266 square feet. In third quarter 2014, net absorption was positive 477,092 square feet.

 

Tenants moving into large blocks of space in 2014 include: ACME Fresh Market moving into 75,544 square feet at 3875 Massillon Road, Heritage Crossings of Green; Burlington Coat Factory moving into 70,008 square feet at 3350 Steelyard Drive, Steelyard Commons; and Roses moving into 57,500 square feet at 5725-5891 Smith Road.

 

MORE:

http://www.costar.com/News/Article/Market-Trend-Clevelands-Retail-Vacancy-Decreases-to-77/168638

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

The Euclid Ave Radioshack downtown is certainly one of the locations closing. Just walked by today and had all the signs up for the final sale. Went in and already alot of stuff is gone off the shelves. Im sure that location will fill up quickly with a restaurant

The Euclid Ave Radioshack downtown is certainly one of the locations closing. Just walked by today and had all the signs up for the final sale. Went in and already alot of stuff is gone off the shelves. Im sure that location will fill up quickly with a restaurant

 

Not necessarily. A restaurant means a kitchen that would require significant alterations to the building. And installing kitchen equipment can be VERY expensive. There's always an old restaurant space around with existing kitchen equipment, vents, etc. already installed.

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

Yeah I'd actually love to see that space filled with something that's not a restaurant. Maybe a boutique shop?

The Euclid Ave Radioshack downtown is certainly one of the locations closing. Just walked by today and had all the signs up for the final sale. Went in and already alot of stuff is gone off the shelves. Im sure that location will fill up quickly with a restaurant

 

It's too bad actually this one didn't make the cut to stay open. It was one of the only non-food national retailers Downtown that was out on an actual street, versus being in Tower City.

The Euclid Ave Radioshack downtown is certainly one of the locations closing. Just walked by today and had all the signs up for the final sale. Went in and already alot of stuff is gone off the shelves. Im sure that location will fill up quickly with a restaurant

 

It's too bad actually this one didn't make the cut to stay open. It was one of the only non-food national retailers Downtown that was out on an actual street, versus being in Tower City.

That's a pretty small space for a restaurant.  Maybe something fast food.  I'm with Casey though, would much rather a store here.

That almost sounds like a joke post. Is is really real? If so, awesome news.

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