~5.61 Acre Waterfront Development Opportunity for Sale

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~5.61 Acre Waterfront Development Opportunity for Sale ~5.61 ACRE WATERFRONT DEVELOPMENT OPPORTUNITY FOR SALE NAUTICA WATERFRONT DISTRICT FLATS WEST BANK, CLEVELAND, OHIO Owned and managed by: For more information, contact our licensed real estate salespersons: Richard Sheehan Terry Coyne Managing Director Vice Chairman 216.453.3032 216.453.3001 Waterfront [email protected] [email protected] ngkf.com/cleveland District www.terrycoyne.com FLATS EAST BANK ~5.61 ACRE LAND SITE LOCATED IN AN R TOWER T OPPORTUNITY ZONE A Waterfront Line WEST BANK OF THE FLATS Cuyahoga River WAREHOUSE DISTRICT • PARCEL A: 4.19 acres • PARCEL B1: Lake Erie .71 acres R buildable air TA W rights a te rfr o 2 nt L • PARCEL B : in Wendy e .71 acres Park greenspace only air rights WHISKEY Settlers HIGHLIGHTS ISLAND Landing A POWERHOUSE • 483 feet of Cleveland Memorial Shoreway Cuyahoga frontage on the Proposed Lake Link Trail River Cuyahoga River B1 B2 • Outstanding scenic views of Downtown 2 Sycamore St. Cleveland and the Cuyahoga NAUTICA WATERFRONT DISTRICT River HARBOR INN CAFE Elm Ave. Heritage • Residential Elm Ave. Park tax abatement available APARTMENTS STONEBRIDGE CONDOMINIUMS • New Market tax Spruce Ave. Hemlock Ave. Center St. Main Ave. AT NAUTICA credits available Center St. Winslow Ave. • New zoning- 275 ft. height Lake Link Trail STONEBRIDGE APARTMENTS Mulberry Ave. • Asking Price: $17.5 Million Detroit-Superior Bridge FLATS WEST BANK THE NAUTICA WATERFRONT DISTRICT IS A SPRAWLING 22-ACRE SITE ON THE THE NAUTICA WATERFRONT DISTRICT OPENED IN 1986 ON THE WEST BANK WEST BANK OF THE CUYAHOGA RIVER IN CLEVELAND, OHIO. IT OFFERS OF THE CUYAHOGA RIVER, FEATURING UNIQUE ENTERTAINMENT VENUES EXCITING PLACES TO LIVE, WORK AND PLAY. INCLUDING: • FirstEnergy Powerhouse, one of Cleveland’s most iconic structures, once powered Cleveland streetcars at the turn of the century • Greater Cleveland Aquarium, featuring approximately 50,000 SF of aquarium-related uses and the longest sea-tube in the United States Windows on the River • Windows on the River, a top-rated banquet facility in Ohio, features three separate rooms and beautiful outdoor patios • Jacobs Pavilion, one of the top-rated outdoor amphitheaters in America, based on national reviews, seats over 4,000 people and is host to more than 30 concerts and events annually • Nautica Queen Dining Cruise Ship, a dinner cruise ship with 350 seats, offers fine dining on the Cleveland Aquarium Jacobs Pavilion Cuyahoga River and Lake Erie and its wonderful skyline views • Shooters on the Water, one of the most successful and longest running restaurants in Northeast Ohio • IMPROV comedy club, featuring comedians from across the globe • Music Box Supper Club, one of Cleveland’s top concert venues Nautica Queen Dining Cruise Ship Shooters on the Water • Development focus will be on residential and hotel uses • +/- 15 acres for additional uses to live, work and play • Building on the success of the Nautica Entertainment Complex and its 35-year history • Adjacent to the Cuyahoga River with spectacular views of the city of Cleveland skyline • Direct link to the Lake Link Trail which is adjacent to the Nautica Waterfront District property • Direct link to the future bridge from the Flats West Bank to Whiskey Island • Walking distance to numerous restaurants and entertainment venues • Short walk or drive to retail needs such as grocery stores and dry cleaners Conceptual Rendering of Potential Waterfront Development AERIAL MAP 90 y a w Lake Erie re Lakeside Ave. o h S l a i r St. Clair Ave. o E. 14th St. Cuyahoga River m e DOWNTOWN M d Superior Ave. n CLEVELAND la e E. 9th St. v CBD le C FLATS EAST Euclid Ave. Public Wendy Park BANK Whiskey Island Square Marina SITE Prospect Ave. Lake Erie Ontario St. WHISKEY FLATS WEST ISLAND BANK Cuyahoga Edgewater River Carnegie Avenue Yacht Club Detroit-Superior Bridge SCRANTON Columbus Rd. PENINSULA Edgewater Edgewater Park Beach West 25th St. Lorain-Carnegie Bridge OHIO CITY Detroit Ave. WEST SIDE 90 MARKET Lake Ave. DETROIT SHOREWAY TREMONT Lorain Ave. DOWNTOWN NEAR WEST Wendy Park CLEVELAND SITE Property Name The Quarter Property Name Bridgeworks Status Completed Status Proposed Year Built 2018 90 Number of Units 194 Edgewater IRISHTOWN Park BEND Edgewater Future Park Beach Detroit Ave. (17 Acres) Carnegie Ave. West WEST25th St. SIDE Property Name NRP Thunderbird HINGETOWN OHIO MARKET Apartments Property Name Snavely Phase III Status Proposed Clifton Blvd. Status Under Construction CITY Number of Units 315 W. 25TH ST. Lake Ave. Year Built 2020 Number of Units 80 DETROIT Lorain Ave. TREMONT Detroit Ave. SHOREWAY Property Name The Dexter Property Name Church & State Status Under Construction Status Under Construction West 41st St. 41st West Property Name The Edison at St. 41st West Year Built 2020 Year Built 2020 Gordon Square Number of Units 119 490 Property Name Battery Park Lofts Status Completed Number of Units 161 Status Completed Year Built 2017 Year Built 2018 Number of Units 306 90 Number of Units 81 90 Property Name Brickhaus Status Proposed Number of Units 300 Property Name Clinton West Luxury Apartments Property Name INTRO (formerly Status Completed Market Square) 71 Year Built 2017 Status Proposed Property Name Snavely Phase IV Number of Units 81 Year Built 2021 Status Proposed Number of Units 290 FLATS/CBD 90 Property Name 12th + AVE Condominiums Property Name Avenue Townhomes Status Under Construction Status Completed Year Built 2020 Year Built 2017 Number of Units 31 Number of Units 16 Property Name The Lumen Hamilton Avenue Apartments Status Under Construction Year Built 2020 Lakeside Ave. Number of Units 318 Property Name Flats East Bank Phase 3 Apartments Superior Ave. Status Proposed W. St. Clair Ave. Number of Units 309 Chester Ave. CAMPUS Property Name Harbor Verandas DOWNTOWN East 12th St. Apartments Status Completed CLEVELAND East 13th St. 13th East Year Built 2018 East 9th St. The largest performing arts centerSt. 13th East CBD in the U.S. outside of New York City Number of Units 16 Euclid Ave. East 14th St. PUBLIC SQUARE Huron Rd. Public . East 4th St. Euclid Ave. FLATS EAST Square Prospect Ave. BANK W. 6TH ST. & W. 9TH ST. Carnegie Ave. PROSPECT AVE. & HURON RD. SITE FLATS WEST BANK NAUTICA WATERFRONT DISTRICT EAST 4TH STREET POWERHOUSE Property Name nuCLEus Apartments Property Name The Beacon Property Name City Club Status Proposed Apartments Apartments Number of Units 250 Status Completed Status Proposed Year Built 2019 Year Built 2022 Number of Units 187 Number of Units 309 DOWNTOWN CLEVELAND BY THE NUMBERS DOWNTOWN CLEVELAND ON THE RISE NORTHEAST OHIO IS THE 15TH LARGEST MARKET IN THE UNITED STATES AND HAS A $200+ THE CLEVELAND AREA RANKS 8TH IN THE UNITED STATES, TIED WITH MIAMI AND SEATTLE, IN BILLION ECONOMY. IT HAS A REGIONAL WORKFORCE OF 2 MILLION AND DRIVES NEARLY 40% OF THE GROWTH OF COLLEGE EDUCATED 25-34 YEAR-OLDS – AND 7TH IN THE PERCENTAGE OF OHIO’S ECONOMY, WITH A ROBUST REGIONAL SUPPLY CHAIN IN MANUFACTURING, AUTOMOTIVE, 25-44 YEAR-OLDS IN THE WORKFORCE WITH AN ADVANCED DEGREE. PLASTICS AND POLYMERS, FINANCIAL SERVICES AND HEALTH CARE. Downtown experienced a 136 percent increase in the number of residents who hold a four-year or advanced degree between 2000 and 2014. In fact, Downtown’s close proximity to multiple higher education facilities helps connect downtown businesses with top talent. As of November 2019, year-over-year job growth in Cleveland reached 1.3%, with office-using employment posting annual gains of 3.3%, higher than other Midwest cities such as Indianapolis and Columbus. Moreover, payroll employment growth in 2019 in Cleveland was over 0.9% every month from January to November. Downtown Cleveland’s daytime population is 134,000. Early 2020 statistics indicate that Cleveland’s technology industry is experiencing strong job growth, leading all other industries in new job postings. Health care, transportation, insurance and software new jobs round out the top five. EMPLOYMENT HOSPITALITY • 78.8% hotel occupancy rate (vs. 71.4% nationally) • $133.01 RevPAR rating (vs. $92.20 nationally) • 105,000 jobs • Over 4,600 hotel rooms • Largest concentration of employment in Ohio • 4,000 average daily hotel guests • 3,500 jobs added over the last 5 years • 18.5 million annual visitors DEVELOPMENT OFFICE • 17.5 million square feet of office space in the Central Business District • $8 billion invested over the last 10 years • 86% Class A occupancy • $535 million in development completed in 2019 • $23.90/SF Class A average asking lease rate RESIDENTIAL RETAIL • 18,800 downtown residents • 30,000 residents projected by 2030 • 1.6 million total square feet in the CBD • 1,600 apartments added between 2015-2019 • 89% occupancy • 96.3% occupancy rate for new construction • $16.60/SF average asking lease rate • Average rental rate for new contruction: $2.00/SF+ • 473 stores; 263 bars and restaurants • 1,300+ apartments under construction • $484 million in annual spending Sources: NKF Research; Downtown Cleveland Alliance; Hoodline; CoStar; Team NEO; Zillow; Apartments.com Owned and managed by: For more information, contact our licensed real estate salespersons: Richard Sheehan Terry Coyne Managing Director Vice Chairman 216.453.3032 216.453.3001 Waterfront District [email protected] [email protected] ngkf.com/cleveland www.terrycoyne.com The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice..
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