Office i Ohio

Health technology firm moving to Cleveland-area's Pinecrest development

Health technology firm moving to Cleveland-area's Pinecrest,ph01

Royal Philips, a health technology company, has signed a lease in the Offices at Pinecrest, a regional mixed-used development from Fairmount Properties and joint venture partner DiGeronimo Companies, which opened this spring on the east side Cleveland suburb of Orange Village, Ohio.

Several other companies, including a Fortune 200 company and two financial services firms, RIK Enterprises LLC. and RIA in a Box, have also recently signed leases for office space at Pinecrest, bringing the total percentage of committed office space in the “live, work, play” development to nearly 70 percent only three months after its official opening.

Philips has chosen to move its CT/AMI business headquarters and R&D team to Pinecrest. The company cites the central location, IT infrastructure, efficient floorplans, access to major highways and on-site amenities as major factors in its decision.

Pinecrest offers a mix of office, dining, shopping, hospitality, residential and entertainment venues in a walkable district. The Offices at Pinecrest, which feature available workspaces ranging from 3,000 to 25,000 square feet, are connected to Pinecrest’s 400,000 square feet of retail, dining and entertainment options. Pinecrest also features a 145-room AC Hotel by Marriott and 87 luxury apartments.

The Offices at Pinecrest were represented by Bob Gross and J.R. Fairman of JLL, and Philips was represented by Eric Schreibman and Bill Saltzman of Cushman & Wakefield|CRESCO Real Estate.