The Cleveland 3rd Quarter 2018 Retail Market Report compiled by CoStar tracks approximately 179 million square feet of retail space in 8 counties (Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Portage, Medina, and Summit). The 3rd Quarter total vacancy rate was 4.5%, down 0.3% from the 2nd Quarter 2018.
The Lake County market contains approximately 17.5 million square feet in 1,318 buildings of which Mentor accounts for approximately 7 million square feet (or 40% of the total). The Lake County market had a vacancy rate of 4.9%; down from 0.1% from the 2nd Quarter of 2018.
According to the CoStar data, 5.5% of the retail space in the City of Mentor is vacant; increasing 1.4% from the 2nd Quarter of 2018. The largest available spaces are 63,287 square feet in the Erie Commons, 56,257 square feet in the Mentor City Shopping Center, and 20,000 square feet in the Mentor Plaza.
For additional information, visit www.mentormeansbusiness.com or contact the City of Mentor Planning & Development Department at (440) 974-5740 or malecek@cityofmentor.com.