Davey Tree Expert Company Leases Full First Floor at Kinross Lakes Business Center
JLL brokers 25,289-square-foot, Class A office space in Richfield, Ohio, leaving only 25,277 square feet available
RICHFIELD, Ohio, Sept. 18, 2019 – JLL represented Raith Capital Partners of Kinross Lakes Business Center in signing new corporate tenant Davey Tree Expert Company. The leased space consists of the entire, 25,289-square-foot first floor. JLL Managing Director Rob Roe, Managing Director Joe Messina and Vice President David Stecker brokered the deal.
“We feel honored to have assisted in such a valuable addition to Kinross Lakes office space,” said Roe. “Davey Tree is a strong, reputable tenant and we are excited to see what other opportunities will arise for the remainder of the building’s available space.”
The 91,000-square-foot Kinross Lakes Business Center offers a variety of rich amenities to its tenants, including an outdoor basketball court and patio. Additionally, the building is conveniently located less than one mile from Interstate 77 and the I-77/I-271 interchange, allowing it direct access to both Akron and Cleveland.
“Raith Capital is thrilled to have a long-term commitment from a quality organization like Davey Tree,” said Stecker. “Ownership has recently renovated the building’s lobby, added a building conference room and will be making extensive improvements to the parking lot as continued commitment to the asset. With limited options over 20,000 square feet in the suburbs, 3900 Kinross Lakes has landed a truly solid company to its roster.”
Flight to quality has been a dominant trend in the area over the last five years as companies are increasingly willing to pay premium for amenities to attract and retain top talent. On average, an amenities upgrade package in Cleveland totals $4.7 million with buildings seeing an 11 percent increase in occupancy rates and seven percent increase in rents post-upgrade.
Only 25,277 square feet of space remains available for leasing at Kinross Lakes Business Center. For more information, visit https://www.us.jll.com/en/locations/midwest/cleveland.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
About Raith Capital Partners
Raith Capital Partners is a private investment firm focused on commercial real estate debt and equity investment. Based in New York City, Raith has a significant presence in the US real estate markets, investing on behalf of institutional and high net worth clients in discretionary funds and separate accounts. Raith supports its investment activities with a fully-integrated asset management team.