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Westlake Shopping Center is a small convenience-oriented retail plaza located at 27000 Center Ridge Road in Westlake, Ohio, a affluent suburb of Cleveland in Cuyahoga County. The property consists of two buildings totaling approximately 27,000 square feet of gross leasable area, acquired by SITE Centers in July 2024 for 18.5 million dollars, reflecting strong market value for neighborhood retail.
Tenant mix focuses on essential and service-oriented businesses, including anchors like Chipotle Mexican Grill and 7-Eleven, alongside Verizon Wireless, University Hospitals Urgent Care, Great Clips, GNC, Sherwin-Williams, Subway, Skyline Music, and Live Fit gym. Occupancy appears high based on recent transaction and tenant stability, with limited vacancies reported. The center benefits from prime visibility and access along high-traffic Center Ridge Road, which sees over 30,000 vehicles daily, supporting steady footfall from local residents.
Westlake boasts a population of about 34,800 with a median household income exceeding 120,000 dollars, a demographic profile of educated professionals (over 60 percent with bachelors degrees or higher) and families, driving demand for convenience retail.
Market position is solid in a low-vacancy Cleveland suburban retail sector (around 5 percent vacancy in 2025), but faces competition from nearby upscale Crocker Park, a 1.2 million square foot mixed-use development with national retailers and dining.
Leasing advantages include competitive rents estimated at 25 to 35 dollars per square foot NNN, short-term flexibility for small-format tenants, and proximity to residential areas with low crime rates. Potential drawbacks encompass limited expansion potential due to size, reliance on local traffic amid e-commerce pressures, and indirect competition from larger centers drawing regional shoppers.
Operational quality is maintained by professional management, with no major infrastructure issues noted.
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Hours of Operation
Hours
| Monday | 09:00 AM — 09:00 PM |
| Tuesday | 09:00 AM — 09:00 PM |
| Wednesday | 09:00 AM — 09:00 PM |
| Thursday | 09:00 AM — 09:00 PM |
| Friday | 09:00 AM — 09:00 PM |
| Saturday | 09:00 AM — 09:00 PM |
| Sunday | 10:00 AM — 07:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Trade Area
Westlake features a population of 34,800 within city limits, expanding to a 5-mile trade area of over 100,000 residents with median household income of 120,000 dollars and average of 160,000 dollars. The area has a median age of 44, high homeownership at 75 percent, and strong educational attainment with 65 percent holding college degrees. This affluent, family-oriented demographic supports consistent demand for everyday essentials, health services, and quick-service dining, contributing to stable sales volumes. However, saturation in wellness and fast-casual categories may limit growth for similar entrants.
Competition and Market Saturation
The center competes with Crocker Park, a premier open-air lifestyle destination 2 miles away offering 75 tenants including Apple, Lululemon, and upscale eateries, drawing 10 million annual visitors. Other nearby strips like Dover Center Plaza add pressure in quick-service and services. Cleveland suburban retail market shows 5.2 percent vacancy and 3 percent rent growth in 2025, indicating resilience but selective tenant demand. Risks include oversupply in convenience retail, potentially capping footfall at local levels without broader appeal, and economic sensitivity in non-essential categories amid inflation.
Accessibility and Operational Factors
Positioned on Center Ridge Road, a key arterial with 35,000 daily vehicles, the site offers excellent visibility and easy access via I-90 and I-480, within 20 minutes of downtown Cleveland. Parking ratio exceeds 4 spaces per 1,000 square feet, supporting convenience shopping. Footfall benefits from proximity to 50,000 employees in local offices and medical facilities. Challenges include aging buildings requiring periodic maintenance and potential traffic congestion during peak hours. Rent levels range 25-35 dollars per square foot NNN, with CAM fees around 5 dollars, providing value for stable, low-overhead operations but limited negotiating power for premium tenants.
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Westlake, OH
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City Snapshot
Westlake, OH
Comprehensive market intelligence for retail expansion in this city
