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:
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 (; 216.861.7171) or Andrew Coleman (; 216.861.7171) or Fairmount Properties’ Adam Fishman (; 216.514.8700). For retail leasing, contact Heather Kovello (; 216.514.8700). Additional information about Pinecrest can be found online at DiscoverPinecrest.com.
Pinecrest, Cleveland’s newest mixed-use district by DiGeronimo Companies and Fairmount Properties, took home Gold (the top honor for mixed-use developments) in the International Council of Shopping Centers (ICSC) Global Awards for North American Design and Development.
Pinecrest lands new $171.5 million loan