A New Mixed-Use Neighborhood in Cleveland’S Opportunity Zone Sites Available for Sale

THUNDERBIRD A NEW MIXED-USE NEIGHBORHOOD IN CLEVELAND’S OPPORTUNITY ZONE SITES AVAILABLE FOR SALE

CONTACT EXCLUSIVE AGENTS: JOSEPH KHOURI KEVIN MOSS First Vice President Senior Associate +1 216 658 6120 +1 216 363 6453 [email protected] [email protected] THUNDERBIRD AT THE SCRANTON PENINSULA

THE

DETROIT-SUPERIOR BRIDGE

FLATS NEXT STOP:

TERMINAL TOWER

& PUBLIC SQUARE HOPE MEMORIAL BRIDGE

DETROIT AVE.

ABBEY AVE.

W 25 th ST. TREMONT

LORAIN AVE. OHIO

W 25 CITY th ST.

© 2020 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. Any projections, opinions, or estimates are subject to uncertainty. The information may not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. Licensed Real Estate Broker. OLD RIVER ROAD

THUNDERBIRD AT THE SCRANTON PENINSULA Sites available for sale or build to suit. Sites Available For Sale

LOT A THE CARTER ROAD NEARLY FULLY ENTITLED AVIAN MULTIFAMILY DEVELOPMENT SITE (300+ UNITS) Acres: 7.44

ROAD COLUMBUS LOT B B

Acres: 4.17 SCRANTON ROAD A

THE AVIAN Coming Soon - 20,000 SF Office Building Under Construction

GREAT LAKES BREWING CO.

CARTER ROAD Recently Purchased for Future Development

CARNEGIE AVENUE * CONCEPTUAL DESIGN & RENDERING THUNDERBIRD AT THE SCRANTON PENINSULA

Proximity matters. Thunderbird is uniquely positioned within a half mile of Public Square and a very short walk to Ohio City and Tremont. DOWNTOWN DOWNTOWN

THE FLATS OHIO CITY

DOWNTOWN TREMONT

OHIO CITY THE FLATS THUNDERBIRD AT THE SCRANTON PENINSULA

Thunderbird is one of the most uniquely positioned properties in Cleveland. The site is located on the Scranton Peninsula, along the Cuyahoga River in the Flats, facing downtown Cleveland and surrounded by and connected to Ohio City and Tremont neighborhoods.

• UTILITIES: Water/sewer provided to • VIEWS: Panoramic views of Cleveland Carter Road. skyline. • ZONING: Semi-industrial (allows • NEIGHBORHOOD: West 25th for multi-family or retail). City support Street, West Side Market, Hoopples, to rezone or provide variances as Cleveland Rowing Foundation (less needed. than 5 min walk). • STREETS: Simple, private drives • DESIGN: Walkable and dense, envisioned to create a small-block, with an eye toward sharp, but urban neighborhood. straightforward design. Master planned • LOCATION: Less than a half mile (10 and coordinated, but flexible and min walk) from Ohio City, Tremont and realistic. Public Square. • BREWERY: Great Lakes Brewery will • TRAILS AND PARKS: Surrounded by be joining the neighborhood with a trails and parks: Towpath, Centennial new, state-of-the-art facility that will be Link, Red Line Greenway, Merwin’s designed at neighborhood scale with Wharf, Irishtown Bend Park (planned), a bar/restaurant, and a pedestrian- Thunderbird Riverfront Park and Trail* oriented design. (proposed). * Thunderbird Park is in the very • RIVERFRONT: Over 1400’ of river nascent stages of planning, is frontage. forward looking and uncertain if it will be realized.

DEMOGRAPHICS OPTIMAL HIGHWAY ACCESSIBILITY: 1 mile 3 miles 5 miles I-90W: 5 mins. 2020 Population 15,316 97,368 257,806 I-90E: 10 mins. 2020 Daytime Population 67, 843 147,038 338,386 I-71S: 5 mins. 2020 Average HH Income $88,432 $49,876 $48,285 I-77S: 7 mins. 2025 Average HH Income $101,180 $57,253 $53,803 I-490W: 5 mins. I-490E: 7 mins. THE AVIAN THUNDERBIRD AT THE SCRANTON PENINSULA

Thunderbird will establish a new dynamic neighborhood in the heart of a reemerging American City.

AN ASPIRATION A Vision of Cleveland’s Future to the continuously expanding park system Located in the center of Cleveland and void including direct adjacency with the new 17- of any existing buildings, the blank canvas acre park at Irish Town Bend and the existing of the Scranton Peninsula’s eastern side is park on the southern side of the Peninsula, envisioned as a small, compact and walkable creating an active and living waterfront community, designed with both the honest experience on the south bank of the Flats. and self-evident character embedded in the city as well as a thoughtful overlay of A LIVING ROOM placemaking that looks beyond Cleveland Intimate and Human-Scaled Development today and towards a bright future. Conscious of the large site and surrounding infrastructure, the district is composed of a A CROSSROADS series of well-designed small spaces, cozy From Downtown to Neighborhoods walkable streets, and short building blocks With well-established and burgeoning with compatible but diverse architecture. neighborhoods of Ohio City, Tremont and Downtown all within a half mile of the district, A CONTEXT the district will be developed to support these With a Focus on Views, Adjacencies and a River neighborhoods, creating a waterfront link Home to some of the most spectacular that binds them and establishes a continuous views of Cleveland, the district is designed network of places to live, create, mix and to orient viewers to the landmarks on the work. horizon through framed spaces and a A WATERFRONT gradient of building heights that respond to An Amenity to the Neighborhood and the site’s topographic changes. Thunderbird Community is conceived of a predominately mid-rise The district is designed with a continuous development (5-7 stories) with the potential public waterfront, culminating in a world class for strategically placed higher rise buildings park on the southern edge that will connect (8+ stories). All designed around view corridors and pedestrian experience. THUNDERBIRD AT THE SCRANTON PENINSULA Proposed Park and Riverfront Trail Amenities View from the Public Space along Carter Road looking North

* CONCEPTUAL DESIGN & RENDERING THUNDERBIRD AT THE SCRANTON PENINSULA

Opportunity Zone & Economic Incenttives

Site is located in newly created Opportunity Zone: (Contact Tracey Nichols, Director Financial Services, Project Management Consultants 216-566-5825) • An Opportunity Zone is an economic development tool designed to spur economic development and job creation in economically-distressed communities where new investments may be eligible for preferential tax treatment.

• Investors can defer and reduce capital-gains taxes when they reinvest profits from other asset sales (including, but not limited to, real estate, stocks or art collectibles, etc.) into a qualified Opportunity Zone fund within 180 days following the sale of a prior investment.

• Opportunity Zone Funds are eligible for a basket of tax benefits, including deferral of current capital gains, a tax reduction of up to 15% on current gains, and no capital gains taxes on appreciation if the investment is held for 10 years. The tax benefits for investors increase the longer the asset is held.

- After 5 year hold, reduction of 10% - After 7 year hold, reduction of 15% - After 10 year hold, investors permanently avoid any capital gains tax on the post-acquisition gains. • Potential governmental economic incentives available through the City of Cleveland’s Economic Development Department.

* CONCEPTUAL DESIGN & RENDERING

NOTE: CONTEXT IMAGERY COURTESY OF PERKINS+WILL THUNDERBIRD RENDERING SHOWN FOR RENDERING PURPOSES ONLY TO DEMONSTRATE SITE AND CONTEXT the SHEET NRP BUILDING 1 SHEET group SCRANTON PENINSULA NORTH ELEVATION (WOONERF) 1" = 40'-0" SCALE SCRANTON PENINSULA NRP CONCEPT SET A1 A6 Cleveland, OH 03/17/2020 THUNDERBIRD AT THE SCRANTON PENINSULA LOT A - 7.44 AC Nearly Fully Entitled Multifamily Development (300+ Units)

LOT A AT

TOWPATH TRAIL STARTING POINT

LOT A - Nearly Fully Entitled Development Site. Recent Due Diligence Includes:

TIER 1 DUE DILIGENCE (WITH NDA): TIER 2 DUE DILIGENCE: • Design Review Committee Package • Full City Application • Consultant Contracts • Energy Green Study • Opportunity Zone Fund • Drawings • Site-Civil Due Diligence • Tax Abatement Application • Market Study • Title Reports • TIF Application • Signage • Peninsula Project Overview THUNDERBIRD AT THE SCRANTON PENINSULA

Irishtown Bend (ITB) Project

The Irishtown Bend project is a plan that leverages the immediate need to keep the severely eroding slope from sliding into the Cuyahoga River, a critical infrastructural corridor and active shipping channel, with the creation of a new urban waterfront park providing open space and recreational opportunities to the adjacent underserved community now disconnected from the river. • 34 Acres of Land on the steep west bank of the Cuyahoga River

• The projects call for the creation of a 17-acre site that will connect Ohio City on Cleveland’s near west side to the Flats, Downtown and Lake Erie.

• The stabilization fo the hillside will make possible construction of a green space with unparalleled views of the Cuyahoga River and the downtown skyline, and regional trails connecting Lake Erie to the Cuyahoga Valley National Park and points south on the 101- mile Towpath Trail.

• In the summer of 2019, The U.S. Department of Transportation awarded $9 million towards the stabilization of ITB through a grant from the department’s INFRA program, or Infrastructure For Rebuilding America, and will go to the Northeast Ohio Areawide Coordinating Agency (NOACA).

Sources: www.land-studio.org/projects/irishtown-bend www.cmgsite.com/project/irishtown-bend/ cleveland.com

Images from: www.land-studio.org/projects/irishtown-bend

A VIBRANT, TRANSFORMING CITY Cleveland is a rich city filled with world class destinations.

Cleveland Clinic 18 Million

A TOP 5 ANNUAL VISITORS HEALTH SYSTEM

Walkable Downtown Cleveland Sports Cleveland 3 PRO TEAMS AND APPEARANCES IN BOTH THE NBA FINALS AND MLB A TOP CITY IN THE COUNTRY FOR WORLD SERIES IN THE LAST YEAR VISITORS WHO WANT TO GO CAR-FREE

Playhouse Cleveland Square Museum of Art

A TOP 5 A TOP 5 THEATER DISTRICT ART MUSEUM

Flats East Bank Ohio City

OVER $500 MILLION HOME TO THE LOCALLY INVESTED IN THE LAST TEN OWNED YEARS WEST SIDE MARKET A VIBRANT, TRANSFORMING CITY

Major Sports Number Hotel Lake Erie Teams of Rooms Lake Erie Flats East Bank Voinovich Bicentennial Park Aloft 150 DOWN- Proposed Lakefront Development Comfort Inn 145 DoubleTree 379 RESTAURANTTOWN & Drury Plaza 189 HOSPITALITYCLEVE OVERVIEW- Hampton Inn 194 North Coast Harbor Hilton 600 LAND Hilton Garden Inn 240 Holiday Inn Express & Suites 141 Hyatt Regency 293 Port of Cleveland Kimpton Schofield 122 Marriott at Key Center 175 Metropolitan at the 9 156 Radisson at Gateway 142 FIRST ENERGY Renaissance 491 STADIUM Burke LakefrontResidence Airport Inn 175 Warehouse District Ritz-Carlton 205 Proposed The Westin 484 Pedestrian 2 Bridge University Hotel 161 Wyndham at Playhouse Square 205 Total Hotel Rooms 4,647 Downtown Cleveland

Cuyahoga River EY Tower Flats East County Bank Courthouse Cleveland City Hall

Lakeside Ave Lakeside Ave

W 10 Cleveland Public East 4th Auditorium th

St 2 Warehouse District Cleveland Convention STARBUCKS Global Center St

Center for th

St Galleria at Ontario St St Health th Erieview th Flats West Innovation E 9 W 9 St W 6

Bank th Center St Greater W St Clair Ave St Clair Ave Cleveland Aquarium E 12 St ST rd th Sherwin Cleveland St Jacobs th Ginza E 6 Pavilion Williams W 3 One Center Sushi House

Future World Key Tower E 18 HQ 2023 Cleveland Public Public Square Library W Superior Ave Superior Ave Superior Ave Campus 200 Public Fifth Third District W Superior Ave St Square Center th 6

The St E 12 Federal Arcade th OHIO CITY Courthouse Tower Theatre District

City The E 13 Beacon Center Euclid Ave St W Huron Rd st Payne Ave

Chester Ave E 21 E 24 E

East 4th St 24 E th

Colonial th St Marketplace St 322 Carter Rd Playhouse Cuyahoga River Square Chester Ave

Cuyahoga River Helen St Theatre th nuCLEus 150 seats Ohio Columbus Rd Westfield Theatre State Development Insurance Outcalt 1,000 seats Theatre E 17 Theatre Theatre 3,200 seats 300 seats Allen 334 seats Euclid Ave Theatre Connor Gateway 500 seats Palace Huron Rd Huron Rd Kennedy's 2,800 seats District Theatre Carter Rd 100 seats Prospect Ave To I-90 E 9 th

St Hanna CLEVELAND STATE UNIVERSITY Theatre QUICKEN Bolivar Rd 550 seats 17,730 Students Public Square Ontario St LOANS ARENA THUNDERBIRD 20 TURN BAY + KITCHEN

Scranton Rd

St St th

th To I-90/I-71/I-77

To I-90/I-71/I-77 E 18 PROGRESSIVE E 14 FIELD

To I-90 Wolstein Center Carnegie Ave RESIDENTIAL Carnegie Ave Prospect Ave OHIO CITY 0 mi .17mi

Cuyahoga River Cleveland

Lake Erie CBD 6 OHIOOHIO CITY CITY RETAILTrade TRADE Area AERIAL Aerial 40,342 Whiskey Island CENTER ST Cuyahoga River DETROIT AVE TRADE AREA INFO 2 W 25th Street and Detroit Avenue 16,764 (5 Miles) Edgewater Yacht Club • Population:254,387 • Daytime Population: 396,293 • Average HH Income: $47,461 • Total Businesses: 11,064 5 • Total Employees: 287,945

37,098 MAJOR OFFICE BLDGS 1 4 W 28TH ST 7 39.2 MSF Total 14,860 CARNEGIE AVE (3 Miles) 3 W 58TH ST 42,725 2 1. Key Tower - 1,425,00 SF 20 ALEA 2 Kan Zaman 2. 200 Public Square - 1,270,204 SF Gordon Restaurant 11,812 9 3. Carl B. Stokes U.S. Courthouse - Square 800,000 SF 6 4. PNC Center - 789,491 SF Ohio City 8 W 25TH ST 5. Tower at Erieview - 760,339 SF DETROIT AVE NEW RESIDENTIAL Lutheran FRANKLIN BLVD Hospital The Old Angle 119,244 DEVELOPMENTS Tavern The BIG EGG ±2,500 units

FULTON RD ABBEY AVE 1. The Edison (306) Momocho 2. Edge (62) St. Ignatious 11 3. Mariner’s Watch (62) High School 4. Church & State (161) 5. The Quarter (232) 6. Nautica Waterfront District (664) 7. W 25th Street Lofts (83)

LORAIN AVE SCRANTON RD 8. Franklin Circle (119) 90 13,266 9. Clinton West (70) 10. Thunderbird 10 11. INTRO (290) BRIDGE AVE W 65TH ST MAJOR EMPLOYERS FULTON RD 42 1. Sherwin Williams - 4,000 employees 2. KeyCorp - 2,000 employees 3. Jones Day - 1,500 employees 4. AmTrust Financial - 1,466 employees “The median income in the Ohio City neighbor- W 14TH ST 5. Medical Mutual - 1,430 employees hood has skyrocketed from $23,000 to $93,000

2016 This information has been obtained from 20,235 20,235 sources believed reliable, but has not been verified for accuracy or completeness. You “Median home values in Ohio City have shot up should conduct a careful, independent 800% since 2000 to $270,000 today.” 128,858 90 investigation of the property and verify all information. Any reliance on this - The Wall Street Journal 2016 information is solely at your own risk. 143,779 Licensed Real Estate Broker Traffic Counts: Ohio Department of Transportation (ODOT) 2018 Last Updated: May 20, 2020 CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners.

CONTACT EXCLUSIVE AGENTS: JOSEPH KHOURI KEVIN MOSS First Vice President Senior Associate +1 216 658 6120 +1 216 363 6453 [email protected] [email protected] MASTER DEVELOPED IN PARTNERSHIP BY: FRED GEIS EAST WEST ALLIANCE J ROC DEVELOPMENT