Is this Downtown Cleveland's retail moment? Post-pandemic, there are high rents and vacancies, but some businesses are betting on Downtown’s promise
The 5th Street Arcades, a longtime center of small business, has seen numerous comings and goings since CBRE took it over in December.
In April 2020, Deinhart signed a lease for $2,400 a month, and moved in that August. “It’s sort of the story of what’s great about this town,” Deinhart said. “I picked this building, and, to make a long story short, I thought, ‘Well, let’s go for it. Let’s open up a storefront.
Pandemic finger-pointing aside, Downtown Cleveland may have its own particular hurdles. According to a January recovery report from Downtown Indy, the retail sector in Indianapolis’ 28,989-person Mile Square is 4 percent vacant; in Pittsburgh’s, which 21,526 call home, it’s 7 percent, according to the Pittsburgh Downtown Partnership. Closer to home, over in Shaker Square, some 13 percent of the neighborhood’s stores are empty, according to directors Tania Manesse and Joy Johnson.
But, “if a business owner is coming to us, saying, ‘We have interest in Downtown,’ that’s something we hold onto,” Stone said. “We do our best to get them here. If one space doesn’t work, we go to the next one.” In the history of Downtown’s slow rebirth as a residential place to be, there has been no dream more prevalent in the collective consciousness than the one decorated in a red and white neon glow. In other words: an urban, upscale, possibly one floor or two, Target.
“When the community tells us that they want a Target, I hear, ‘I want supplies that make it easier to live Downtown within walking distance,’” Gerlach said. “And I think Target’s the blanket solution for that.” “Retailers clearly followed the area’s population as it moved farther away from Downtown,” an article in Cleveland Historical reads, “but they followed with varying degrees of enthusiasm.”Gavin Reiland steam-cleans a church hat in the back room at Mike The Hatter, which has been situated in the 5th Street Arcades since March 2020.
Woodrina Williams’ realization that she yearned to sell couture clothing began to crystallize shortly after she flew to New York in 2020 to save the lives of those stricken by the Coronavirus. A travel nurse from Hough, Williams found herself chatting with other medical personnel from around the country—some who had started salons or health food stores. “It started as a suggestion for me to open up an LLC,” Williams said, cracking a smile, “so that I could write off my taxes.
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