The Cleveland 4th Quarter 2022 Retail Market Report compiled by CoStar tracks approximately 200 million square feet of retail space in 8 counties (Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Portage, Medina, and Summit). The 4th Quarter 2022 vacancy rate decreased 0.2% to 3.9%.
The Lake County market contains approximately 18.7 million square feet in 1,403 buildings of which Mentor accounts for approximately 8.1 million square feet (or 43% of the total). The Lake County market vacancy rate is 6.1%, decreasing 0.7% from the 3rd Quarter 2022; and increasing 0.2% from the 5.9% rate of the 4th Quarter of 2021.
According to the CoStar data, 7.5% of the retail space in the City of Mentor is vacant, decreasing 0.6% from the 3rd Quarter 2022 vacancy rate and increasing 0.6% from the 4th Quarter 2021. The largest available spaces are 7900 Plaza Blvd. 86,885 square feet, 7960-8000 Plaza Blvd. 81,885 square feet, and 7723 Mentor Ave. 42,600 square feet.