Mentor Retail Occupancy Rate At 92.9% Despite Pandemic

Press release from the City of Mentor:

October 2, 2020

The Cleveland 3rd Quarter 2020 Retail Market Report compiled by CoStar tracks approximately 195 million square feet of retail space in 8 counties (Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Portage, Medina, and Summit). The 3rd Quarter vacancy rate increased 0.3% to 4.6%.

The Lake County market contains approximately 18 million square feet in 1,367 buildings of which Mentor accounts for approximately 7.7 million square feet (or 42% of the total). The Lake County market adjusted vacancy rate increased 0.1% to 6.1%.

According to the CoStar data, 7.1% of the retail space in the City of Mentor is vacant, which has increased 1% from the adjusted 2nd Quarter 2020. The largest available spaces are 7900 Plaza Blvd. 82,685 square feet, 7723 Mentor Ave. 42,600 square feet, and 7501-7537 Mentor Ave. 25,598 square feet.

Prepared by the City of Mentor, Planning & Development Department, October 2020

This press release was produced by the City of Mentor.The views expressed here are the author’s own.