OPPORTUNITY

4545 Fisher Road is comprised of 3,900,000 square feet, and was originally built in 1968 and occupied by Sears as their primary distribution facility. The facility is a multi-use, multi-tenanted, two-story office, distribution and retail property. The site was later sold to and occupied by Spiegel’s Distribution Fulfillment Services (DFS), which was subsequently sold to Industrial Realty Group. Throughout the years, industrial space was well-leased on the property (renamed 70/270 Commerce Center), securing 2.6 million square feet of tenants which stabilized the asset during its transition. The office portion continued to be challenging to lease.

OUTCOME

In 2018, the leasing team secured a tenant. The State of Ohio moved approximately 700 employees into the 214,566 sq. ft. office space, consolidating two of its divisions to the property. As landlord, nearly $7 Million was invested into renovations to create a modern space and a more efficient solution for the tenant. Concurrently, long-time tenant Eddie Bauer Outlet needed to be relocated. Utilizing an adaptive reuse approach, an adjacent warehouse space was converted to a unique, 33,380 sq. ft. retail space with high ceilings, a more efficient layout and natural light. The space is now fully-functional, supporting a variety of user types and a positive tenant mix.