JLL named listing agent for Cleveland suburban portfolio

CLEVELAND, June 29, 2022 — JLL is pleased to announce it has been named the exclusive leasing agent for Shelbourne Global Solutions’ East Side portfolio, consisting of more than 700,000 square feet across seven, centrally located Class A and B suburban office buildings. Leasing efforts will be led by Senior Vice President J.R. Fairman, along with Senior Vice President Kristy Hull and Associate Heather Gilleland.

Shelbourne Global Solutions is a New York-based company that owns and manages more than 8 million square feet of commercial real estate, totaling $1.5 billion worth of assets. One of the largest owners of institutional grade office properties in Northeast Ohio, Shelbourne Global Solutions owns 11 buildings totaling 800,000 SF.

Shelbourne Global Solutions’ East Side portfolio consists of the following properties:

• Landerbrook Corporate Center I, II and III, located in Mayfield Heights
  

• Metropolitan Plaza, located in Beachwood

• One Corporate Exchange, located in Beachwood

• Chagrin Plaza East and West, located in Beachwood

All located within a five-minute drive from the nearest interstate, the office spaces feature their own covered parking lots, eliminating costly parking expenses, and many sought-after amenities like upgraded tenant lounges, conference facilities, green spaces, fitness centers and on-site restaurants. Plus, they’re a short drive away from numerous retail and dining options in each of their neighborhoods.

“Our team is thrilled to serve as Shelbourne’s exclusive leasing agent for these prominent assets in the eastern suburbs, and we’re confident in JLL’s expansive network and resources that we will continue to garner high-quality tenants in these communities,” said Fairman. “In addition to $5 million in building upgrades and renovations, all of these properties boast unparalleled accessibility to key highway corridors and amenities in a top-tier office setting—conveniences which are in high demand by today’s tenants.”

Landerbrook Corporate Center and Metropolitan Plaza have recently undergone extensive renovations and upgrades to their tenant lounges and common areas, further bolstering the flight to quality trend in the Cleveland office market. Metropolitan Plaza has also implemented improvements to its onsite conference center, food service and common area aesthetics.

“In today’s world, tenants desire office spaces that provide amenities—luxuries they can’t find at home,” said Hull. “They also want to work at offices they can get to quickly and easily, and this portfolio offers just that. With an abundance of free parking, easy highway access, and proximity to high-end neighborhoods packed with retail and restaurants, it offers tenants a variety of options to ensure we can find them exactly what they need.”

Shelbourne Global Solutions’ presence is bolstered by a proprietary online tenant portal and local staff of property management professionals to provide concierge-level services to tenants at each property, offering comfort and hospitality experiences that cannot be matched in a work-from-home environment or typical Class A office building.

"We at Shelbourne are enthusiastic about the prospect of working with JLL on leasing the remainder of our suburban Cleveland portfolio. There is a large opportunity for further building on our deep-rooted relationships in the local and regional market and continuing to develop successful leasing and investment plans for our clients and investors,” said Rafi Lipschitz, Senior Portfolio Manager for Shelbourne Global Solutions.

For more information about properties for lease, visit jll.com/Cleveland.

Shelbourne is a New York based company that owns and manages over eight million square feet of commercial real estate, totaling over a billion dollars’ worth of assets. Shelbourne’s strategy and approach has been to obtain private equity investors to primarily acquire Class A office buildings that are opportunistic and high yielding in secondary and tertiary markets. Through leveraging its extensive partner network and over 100 years of cumulative experience and expertise in public and private equity markets, Shelbourne has been able to source, structure and finance transactions to achieve superior, risk-adjusted returns for its investors.