Laserfiche WebLink
I . <br />BOA Minutes <br />July 6, 2017 ' <br />Pg #15 <br />outpost. One thing to look at from an office perspective is yes, Jefferson Park may be full but <br />the rental rates do not support new construcrion. Also if you look north of here in Willoughby, <br />there's offices up at the corner there that have shuggled tremendo-usly over the years. Some <br />have gone in foreclosure, a lot have gone in receivership, they're probably %z full. It's a very <br />difficult office market for this azea and I could not get my clients to look here. The east side <br />office market is very tight, some of the reason is new construction. <br />Mr. Bems asked, how far is Jefferson Park from the freeway? <br />W. Marrelli replied,'/s mile. <br />Mr. Berns aslced, how about subject property? <br />Mr. Marrelli replied, probably about 2 miles. <br />Mr. Bems said, how about 2.6 miles. <br />Mr.-Marrelli said, o.k. 2'/z miles. <br />Chairman Prcela said in jest, for the record Mr. Berns is not on trial here. <br />Mr. Berns asked for clarification of Office/L.ab districts occupisd and available. <br />LJ Mr. Marrelli replied, if it's occupied, it's not available: John points out the soccer field and then <br />here is Progressive which is all offices that's in another district. <br />Mr. Bems states, God bless Progressive. <br />Mr. Marrelli states, absolutely and they're 2.6 miles from the freeway. <br />Mr. Berns asked, how many squaze feet do they have in buildings? : <br />Mr. Marrelli replied, 5-stories, 3 buildings, maybe 500,000 square feet. <br />Mr. Berns said, they built a building for themselves. John, how much building can you put on <br />subject property? <br />Mr. Marrelli repiied, maybe 50,000 or 60,000 square feet. <br />Mr. Berns said, 50,000 or 60,000 squaze feet and 2%2 miles from the freeway. Do you know <br />anybody that wants to be there? <br />Mr. Marrelli replied, I think some attorneys might want to move in there.