The Cleveland 2nd Quarter 2022 Retail Market Report compiled by CoStar tracks approximately 199 million square feet of retail space in 8 counties (Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Portage, Medina, and Summit). The 2nd Quarter 2022 vacancy rate remained at 4.2%.
The Lake County market contains approximately 18 million square feet in 1,389 buildings of which Mentor accounts for approximately 7.9 million square feet (or 44% of the total). The Lake County market vacancy rate is 6.9%, increasing 1.2% from 1st Quarter 2022; and increasing 1.0% from the 5.9% rate of the 2nd Quarter of 2021.
According to the CoStar data, 8.2% of the retail space in the City of Mentor is vacant, decreasing 0.01% from the 1st Quarter 2022 vacancy rate and increasing 0.7% from the 2nd 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.