Over the weekend I had a call with a family who is interested in buying…
Over the last couple of months of 2017 Amazon has announced that they will be bringing 3,000 jobs to Cleveland. These jobs will be in two areas of Cleveland, Euclid and North Randall. The company has decided that they will be taking over two malls that have been demolished over the last couple of years.
North Randall Location
Amazon will be bringing 2,000 jobs to the North Randall mall. This development will cost Amazon $177M and should take about two years to complete, so it is planned to be completed in 2019. The facility will use about 20% robots and the rest will be full time employees. These employees will be eligible for benefits including health care and retirement. This development is going to change the real estate market and the landscape for rentals in this area. To read more about this development click here.
The other development that Amazon is doing in Euclid will bring 1,000 jobs to the area. The building site will be where the Euclid Sq., Mall used to be and it should take about two years to develop, so it should also be completed in 2019. This fulfillment center will include 53 truck docks, surface parking for 200 trailers and 1800 cars. There will be 1.7 million square feet of floor space across three levels. To read more about this development click here.
For both of these developments, Amazon will qualify for 100% property tax abatement for 15 years, a program that dates back to the 1970’s.