[DARK] Former Citizens Bank w/ Drive-Thru | Directly Across from $260M Belle Oaks Marketplace

Description

Subject offering a now-dark former Citizens Bank, which has been occupied by Tenant since 2006 with a lease expiration date of 07/2023. The free-standing, well-maintained, 3,775± square foot building boasts direct frontage to SR 175 (Richmond Road). Constructed in 2001, the building features a brick exterior, with wood/timber framing and sits on a 1.99±AC lot. The site benefits from a dedicated turning-lane and exposure to a combined 25,748± vehicles-per-day (2020). The Subject is also located directly across the street from the highly anticipated, recently approved, Belle Oaks Marketplace. When complete, the 69.2±AC / 1,617,800±SF development of regional economic impact aims to be the preeminent, Class-A multi-family and mixed-use community in the region offering a walkable, live-work-play environment that is supported by best-in-class local retailers, restaurants and daily-needs services. Once fully envisioned, the project will consist of 791 apartment units with approximately 315,000±SF of retail, including a completely renovated Regal’s 20-screen theater complex. With its 1st Phase construction commencing in 2021 and Leasing Center scheduled to open in December 2022, the 760,110±SF Phase I, will be a mixed-use neighborhood comprised of 8 new buildings located on 25.5±AC of the existing Sears Dept. Store site at Richmond Town Square.

Highlights

Subject is located directly across from the highly anticipated, recently approved 1,617,800±SF Belle Oaks Marketplace

Site benefits from a dedicated turning-lane and exposure to a combined 25,748± vehicles-per-day (2020)

Excellent Visibility Benefits from Direct Frontage to SR 175 (Richmond Road)

2001 Construction with Brick Exterior and Wood/Timber Framing on a 1.99±AC Lot with Drive-Thru

Additional URLs

• https://www.crexi.com/lease/properties/404922/ohio-citizens-bank-dark
• https://www.cleveland.com/community/2021/11/richmond-heights-council-hears-first-readings-of-belle-oaks-development-agreement-legislation.html#:~:text=RICHMOND%20HEIGHTS%2C%20Ohio%20%2D%2D%20It,million%20Belle%20Oaks%20Marketplace%20project.