ERIEBANK

ERIEBANK, a division of CNB Financial, (NYSE: CNB) is new to the Northeast Ohio market after having great success in the Buffalo NY market. ERIEBANK was looking to quickly expand their reach into the Cleveland MSA. After assisting ERIEBANK with finding a suitable short-term office space for their loan production office in Independence, David Leb and Ben Schiller of Cushman & Wakefield | CRESCO Real Estate were tasked with finding a suitable location for ERIEBANK’S corporate office as well as a drive- through bank branch.

Our task was to find a prominent retail location suitable for both a full-service bank branch as well
as a 4,000 SF of corporate office space for ERIEBANK’S Northeast Ohio headquarters. Faced with a tight retail market and limited new construction site opportunities, CRESCO cast a wide net to uncover on and off-market opportunities for new construction or renovation of an existing property along the Rockside Road corridor in Seven Hills and Independence.

We were able to uncover an off-market land opportunity on Rockside Road in Seven Hills with prominent frontage and excellent access. This location gave us

the ability to create a 2,000 SF branch featuring multiple drive- through ATM lanes in a full-service bank branch, and a 4,000 SF office all under the same roof.

We worked with the architect, development team, and Seven Hills public officials to get through the necessary hoops and received full approval for the developer to construct ERIEBANK’S Northeast Ohio headquarters and first full- service bank branch in this market.

Construction is underway at 4141 Rockside Road. ERIEBANK’S groundbreaking took place in April 2021 to fanfare and local TV media coverage, helping to further build their brand recognition in this market. The property is scheduled to finish construction Q4 2021.