Cleveland’s suburban office market may emerge from COVID stronger than downtown

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The pandemic has led executives to reconsider their company’s office footprint, including location, size and price. But those decisions may end up affecting the Cleveland real estate market in a peculiar way.

Workers continue their work at a side on Rockside Woods Boulevard North in IndependenceCLEVELAND, Ohio — For Logicalis, making the move from downtown Cleveland to Beachwood came down to two things: price and size

The company is not alone The pandemic has led executives to reconsider their company’s office footprint, including location, size and price But those decisions may end up affecting the Cleveland real estate market in a peculiar way – having more companies fill up suburban office space Real estate brokers and agents say one reason is that suburban office space is often less expensive A lot of it also comes down to ease Often, it is much easier for workers to walk from a free parking lot in front of a suburban building than paying $12 a day to park in a garage and having to walk a longer distance to get to a downtown office

McClain said Logicalis, which used to have its offices at The Plain Dealer Building on Superior Avenue in Cleveland, also studied where its employees in the area lived to find a space that was close to as many of them as possible Most are not living in the 20,000-plus downtown apartments “People are adjusting their space down, with some to accommodate work from home or remote workforce,” said Don Taylor, president and CEO of the Fairlawn-based construction and development firm Welty “They aren’t necessarily looking to save money on rent actually we’re seeing is people are willing to invest in the environment”in Independence, half of which will be occupied by the CBIZ accounting firmThere is also the issue of whether anyone is actually working in the space that is leased Jessica...

 

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No one wants to commute downtown, walk a mile from expensive parking, to go to expensive offices where they pay 2.5% of their income for the privilege. Companies can offer an easier commute to cheaper offices that are rightsized to allow hybrid work.

AMARI COOPER TO THE BROWNS!

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