Crocker Commons
Mixed Use | 7.41% CAP | 97,524 SqFt
Marketing description
Strategically situated in the highly desirable Westlake, Ohio, Crocker Commons is a premier 16 acre mixed-use development, showcasing 60,680 SF of newly constructed Class A office space, complemented by an additional 36,844 square feet of Class B medical office space. Located on Westlake’s most sought-after street, Crocker Road, this development also includes a long-term ground lease and a fully leased 30,000 SF retail center on-site, which serve as valuable amenities to the development but are not included in the sale.
Westlake, recognized as Cleveland’s premier west side suburb, boasts high median incomes exceeding $98,000, strong population stability, top-tier highway accessibility, numerous corporate headquarters, and one of Ohio’s leading school districts. This advantageous environment has solidified Westlake’s reputation as a key player in commercial real estate and a business-friendly community.
The 60,680 SF new-build office complex at Crocker Commons is a standout in the Northeast Ohio market. Built speculatively, it is now 83% leased, attracting top-tier medical users and housing the office headquarters for a major commercial airline. This success is further bolstered by the adjacent 30,000 SF retail center, which creates an ideal environment for tenants to thrive.
In addition to new construction, the offering includes 36,844 SF of highly coveted medical office space in twin buildings at 2211 and 2237 Crocker Road. These buildings, constructed in 2003, have consistently maintained occupancy rates of over 80% and continue to attract long-term tenants, primarily in the medical and financial sectors. With exceptional tenant commitments, premium materials, and minimal market vacancy, Crocker Commons presents a unique opportunity for ownership in one of Cleveland’s most dynamic suburban markets.
Investment highlights
97,524 SF single-story Class A 2-property portfolio in Cleveland’s best suburban submarket
83% occupied with strong tenant mix including medical and executive office
2/3rd of portfolio is new-build (2024)
Median incomes $103,000+
WALT 7.75 Years
Directly adjacent to the most successful lifestyle center in Cleveland Metro, Crocker Park
7.03% in-place cap rate
Massive upside on lease-up and graduation of rents
$19,995,000 Sale Price
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