CenterMark Development to Rehab Glenville Market Building for DEAL$
CLEVELAND, November 28, 2011 – CenterMark Development LLC has signed a lease with DEAL$ to occupy the 11,000-square foot, former Easttown Eagle Market building in the Glenville neighborhood of Cleveland. The building is located at 656 E. 105th Street.
“I am pleased to have secured a long-term commitment from a national retailer of this caliber for the redevelopment,” said Mark Jablonski, CenterMark President. “DEAL$ sought to locate within this healthy commercial corridor. Our location between McDonald’s and the Post Office was ideal,” he added.
Mr. Jablonski said that CenterMark purchased the long-vacant building in October and expects to complete the rehabilitation by the spring of 2012. A grand opening is expected during the second quarter following interior improvements by Deal$.
Ward 8 Cleveland councilman Jeffrey D. Johnson said, “This project will put an abandoned, vacant building into productive use. DEAL$ offers hundreds of products not readily available in the neighborhood including groceries,” he added.
Glenville Development Corporation Executive Director Tracey E. Kirksey, who worked closely with CenterMark to find a location that met the tenant’s requirements, said, “Our mission is economic development. And DEAL$ could bring up to 30 jobs to the neighborhood.”
Cuyahoga County District 7 Councilperson Yvonne M. Conwell said, “Since the closure of the East Side Market and the Easttown Eagle Market, this important commercial district has been without groceries.” She continued, “DEAL$ food offering will be especially welcomed by the residents. “
Construction financing was provided by Parkview Federal Savings Bank. HCI, Inc. is serving as general contractor.
CenterMark Development LLC is a real estate development and management firm founded in late 2008 by Mark and Kelly Jablonski, both former commercial real estate lenders. The company focuses on the construction and rehabilitation of small and mid-sized retail projects. Its principals have over 30 years of combined experience. Since 2002, Mr. Jablonski has been responsible for the development of 11shopping centers and free-standing retail projects in and around Northeast Ohio.
DEAL$ is a subsidiary of Chesapeake, Virginia-based Dollar Tree (NASDAQ: DLTR) and operates 150 stores nationwide featuring toys and games, party supplies, kitchen essentials, pet supplies, cleaning, storage and hardware items, health and beauty supplies, school, office and art supplies, floral and seasonal items, and food. Stores average 10,000 square feet.