Signature Centre
Office | 8.43% CAP | 88,193 SqFt
Marketing description
Signature Centre presents a stabilized suburban office investment opportunity in the Landerbrook submarket of Mayfield Heights, anchored by a long-tenured and highly committed tenant roster comprised primarily of medical and financial service users. The ±88,193 SF property is 92% occupied with a 6.7-year weighted average lease term, providing immediate, durable cash flow supported by industries known for long-term tenancy due to patient relationships, client retention, and significant build-out investment. The rent roll is led by University Hospitals, Cedarbrook Financial Services, Allied Dermatology, Frankel Plastic Surgery, Richards Frankel Dentistry, Delguyd Walter & Associates, and multiple financial and professional services firms, with several leases extending well into the next decade, including expirations through 2035, 2038, and 2042, demonstrating exceptional tenant commitment and stability. Recent ownership reinvestment, including a $500,000 lobby renovation completed
in 2023, further enhances the building’s positioning, while the surrounding 5-mile trade area of more than 108,000 employees and average household incomes exceeding $144,000 reinforces long-term demand for professional and healthcare office space. Altogether, Signature Centre represents a defensive, income-focused investment
defined by a resilient tenant mix, strong lease duration, and long-term occupancy stability.
Investment highlights
Stabilized Cash Flow with Strong Occupancy
±88,193 SF asset currently 92% occupied, delivering immediate, durable in-place income.
Attractive Lease Duration (6.7-Year WALT)
Long-term income visibility with multiple leases extending through 2035, 2038, and 2042.
Defensive Tenant Mix – Medical & Financial Services
Anchored by healthcare and professional service users with high retention, recurring demand, and significant tenant investment in buildout.
Institutional Tenancy with Proven Operators
Rent roll led by established groups including major healthcare systems and advisory firms, reinforcing long-term stability.
Significant Capital Investment & Tenant Commitment
Ownership has invested meaningfully into the asset, including a $500,000 lobby renovation, ~$70,000 in elevator upgrades, and well over $1.5M in tenant improvements—demonstrating both ownership’s commitment and the stickiness of the tenancy.
Embedded Upside Through Lease-Up
Remaining vacancy (~8%) provides near-term value-add opportunity without sacrificing current income profile.
Strategic Suburban Location in Landerbrook Corridor
Highly accessible east-side Cleveland location surrounded by corporate users, healthcare institutions, and dense residential base.
Strong Demographic & Employment Drivers
Over 100,000 employees within a 5-mile radius and average household incomes exceeding $140K support long-term office demand.
Limited New Supply Supporting Fundamentals
No new office construction underway in the market, helping preserve occupancy and rent growth potential.
Attractive Basis with Long-Term Income Growth
Mark-to-market opportunities and contractual rent escalations provide built-in NOI growth over the hold period.
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