Initial Office Tenants Signed for Pinecrest Alliance Prime Associates, Continental Heritage Insurance Co. and Tower 7 Partnership LLC to locate at Pinecrest
CLEVELAND, OH The office component at Pinecrest, the exciting new mixed-use shopping/dining/entertainment/office/hotel/residential district under construction on Harvard Road at I-271 in Orange Village, has landed its initial office tenants. Alliance Prime Associates, along with Continental Heritage Insurance Company and Tower 7 Partnership, LLC will be relocating their headquarters offices to Pinecrest when it opens in spring 2018.The companies are leasing a collective 15,000 SF on the fourth floor in one of the two office buildings that are a part of the project. The announcement was made today by Fairmount Properties, Pinecrest’s developer.
Longtime insurance executive Joseph E. LoConti is the president of Alliance Prime and the founder of the LoConti family office, including Tower 7 Partnership LLC, which are financiers of numerous start-up endeavors, private equity and real estate transactions. Continental Heritage is a Treasury-listed insurance carrier specializing in surety and emerging property and casualty markets with an A- rating by AM Best.
“A significant driver in our relocation decision was to locate within an environment that will provide our colleagues and clients with great options for dining and entertaining, as well as a hotel for visiting business associates, all within walking distance of our offices,” said LoConti. “We’re confident Pinecrest’s vibrancy and extensive array of amenities will provide convenience, enhance our image, improve our and our employees’ quality of life and increase our collective business productivity,” he added.
“Alliance Prime, Continental Heritage Insurance Company and Tower 7 Partnership as our initial office tenants is a great start,” said Adam Fishman, partner with Fairmount Properties. “These buildings deliver an optimum business environment including floor-to-ceiling glass, tenant-exclusive amenities, modern building efficiencies, the conveniences of the surrounding mixed-use district, connected garage parking and the ease of commuting from just about every
direction. Those are assets that contribute to any company’s image, retention, recruiting and the bottom line. It’s truly the next generation in office space,” he added.
Pinecrest was represented in the transaction by JLL’s Bob Gross and Andrew Coleman. The tenants were represented by Jim Krivanek of Cresco Real Estate.
Pinecrest is the only suburban office location in the Cleveland metro market able to accommodate larger office space users with over 150,000 SF of Class A office space combined with connected adjacent garage parking, plus a hotel and an array of dining, fitness and shopping options, even luxury apartments, all just steps away onsite.
The Offices at Pinecrest consists of two adjoining 75,000 SF Class A office buildings located in the northeast portion of the site. Both buildings offer three floors of office space above retail and restaurants, front on Pinecrest’s central green space/events venue and are connected to the project’s multi-level parking garage.
Additional attributes of The Offices at Pinecrest include:
- Life Balance—Proximity to diverse dining, entertainment and shopping options, including specialty fitness studios and groceries/prepared foods from Whole Foods;
- Any meal of the day is just steps away with restaurants that include Red the Steakhouse, Kona Grill, Firebirds Wood Fired Grill, Bibibop, Fusian, City Works, plus plans for a wine bar, coffee, gourmet ice cream and more yet to be announced;
- Overnight Convenience—The 145-room AC Hotel by Marriott at Pinecrest will also be just steps away, providing luxurious and contemporary boutique hotel hospitality to overnight guests wanting to relax and recharge for multi-day business trips or for an extended stay mixing business with leisure;
- Commuting Ease—Pinecrest’s outstanding location provides quick and broad regional commuting ease via adjacent I-271 for north/south routing, as well as I-480 just two minutes south providing extensive east/west access;
- Parking Convenience—Adjacent four-level parking garage with over 750 spaces, plus additional surface parking options onsite;
- Office Augmented—On-site conference and fitness facilities are exclusive to Pinecrest office tenants;
- Efficiencies—The 25,000 SF floorplates are designed to maximize office space use, provide collaboration opportunities and control operating costs;
- Lighten Up--Expansive glass facades allow plentiful natural light to interior spaces, as well as providing a sleek, contemporary business environment inside and out;
- High Visibility—Exterior building façade marquee signage opportunity available to capitalize on the high volume of passing traffic including 155,000 cars daily on I-271;
- Livability—87 luxurious apartment homes onsite, in a variety of floor plans, will benefit from the ongoing vibrancy of Pinecrest.
Upon completion in spring 2018, Pinecrest will feature a total of approximately 150,000 SF of office space, over 400,000 SF of high-caliber and most sought retail, dining and entertainment options in its open-air town center setting, a 145-room AC Hotel by Marriott and 87 extraordinary apartment homes, along with garage, surface and street parking. The majority of Pinecrest’s retail component will consist of retailers, restaurants and entertainment anchors that are new to this region and exclusive to Pinecrest.
Pinecrest is being developed by a partnership led by the Cleveland-based Fairmount Properties and the DiGeronimo Companies.
For office leasing information, contact JLL’s Bob Gross (Bob.Gross@am.jll.com; 216.861.7171) or Andrew Coleman (Andrew.Coleman@am.jll.com; 216.861.7171) or Fairmount Properties’ Adam Fishman (email@example.com; 216.514.8700). For retail leasing, contact Heather Kovello (firstname.lastname@example.org; 216.514.8700). Additional information about Pinecrest can be found online at DiscoverPinecrest.com.