Shaker Towne Center

16611 Chagrin Blvd, Shaker Heights, OH 44120, United States

Shaker Towne Center

Dominant Grocery Anchored Center | New 15-Year Heinen's Extension | Dense/Suburban Infill Location

Access Data Room
Square Feet
Weighted Average Lease Term
Property Type
Deal Type
Risk Profile
Core Plus


Cushman & Wakefield Retail Investment Advisors present Shaker Towne Center (the Property), a 123,112-square-foot grocery anchored center in Shaker Heights, Ohio, a suburb located eight miles southeast of downtown Cleveland. Anchored by the No. 1 Heinen’s Grocery Store in the chain in terms of customer visits, the Property sits on approximately 11.5 acres at the intersection of Chagrin Boulevard and Lee Road (36,138 VPD). Shaker Towne

Center is 96% occupied by an impressive lineup of internet resistant and daily needs tenants. Heinen’s occupies 41,822 SF and has a lease term through September 2038 with three, five-year extension options.


The Property’s other anchors include Ace Hardware, occupying 12,100 SF with a lease term through March 2031 with two, five-year options, and Dollar Tree, which occupies 11,850 SF with a lease term through March 2025 and has two, five-year extension options. Together, the anchors account for 43% of revenue and 54% of the GLA. This offering includes four buildings: two multi-tenant strips - one anchored by Heinen’s Grocery Store and the other anchored by Ace Hardware and Dollar Tree - and two single-tenant outlots.


  • Grocery Anchored
  • Value Add Potential
  • Secure Income Stream
  • Dense/Transit-Oriented Suburb
  • Sum of All Parts
  • Strong Tenant Demand and Leasing Momentum
  • High Visibility
  • Dense Demographics