The building housing Ohio Design Centre at 23533 Mercantile Road in Beachwood was sold to a Warrensville Heights-based investor group for $4.1 million, according to Cuyahoga County land records.
Jeff Davis, president of Davis Development Group in Solon, which created the showroom in 1981 and expanded it to its current 100,000-square-foot structure, passed ownership to 23533 Mercantile LLC, which is led by Dimitry Belkin, CEO of Data Retrieval-1st All File Recovery LLC.
Davis told the Cleveland Jewish News April 1 when Ohio Design Centre was created, it was during a time where large showrooms were succeeding in other major cities. For 40 years, he said, tenants have moved in and out of the space, housing a number of high-end furniture, fabric, art and appliance businesses.
“Business was very good, and then in probably the ’90s and early 2000s, you started to have bankruptcies and consolidations on the fabric side,” he said. “The trend is people want to be out on the street now, more visible. They’re all congregating around Richmond Road now. This has all just changed. The spaces are changing and the needs are changing.”
Davis said he believes that new ownership will continue to operate Ohio Design Centre, and at the moment, it is still open for business.
“It was just the right time to sell it, and I think the owner is going to use part of it, and maybe try and keep the design center concept,” he said. “I was only 31 when we opened that building, it was my career.”
As for the rest of Davis Development Group’s portfolio, Davis said there is still a lot going on. Its current list of properties include Materion Headquarters in Mayfield Heights, another office building at Landerhaven, two movie theaters in Solon and Hudson, the University Hospitals Solon Health Center, a 50,000-square-foot building in Hudson, numerous multi-tenant spaces and Davis Automotive Groups’ dealerships.
“We still have a ton of stuff, so we’re still around,” he said. “This was an important part of our portfolio, but we just thought it was time for us to move on and for someone else to redevelop it. And we saw there weren’t any other big blocks of space on Commerce Park, so it was time to go.”