Cleveland complex offers office space, ownership

CLEVELAND, Tenn. — An office complex under construction is offering medical and other professionals a chance to own their space.

“Ocoee Commons is an office condo project which is geared toward medical practitioners or other professionals like attorneys, insurance agents or rehab centers,” said developer Adam Green.

The first of five office condo buildings at Ocoee Commons is being built off North Keith Street behind Bi-Lo. The 25,000-square-foot complex will have a construction value of about $2.7 million, Mr. Green said, and a sales value of about $3.8 million.

Dillard Construction is the contractor. Douglas Caywood of Downtown Design Studio PLLC designed the complex. The build out should take one to two years, depending on how fast offices are sold, Mr. Green said.

Dr. Tim Ray of Bradley Dental Care has bought the first office at Ocoee Commons, said Jim Metzger of Bender Realty, the listing agent along with Steve Martin.

The offices will have an exterior color scheme of earth tones and a timeless design, Mr. Green said, and the complex will have extensive landscaping. He believes in not developing the maximum amount of land so there will be room for landscaping, he said.

Ocoee Commons buildings will be one-level, which is good for doctors’ offices, Mr. Caywood said.

The project is unique to Cleveland because there is no other medical space for sale, Mr. Metzger said. The most recent medical office space in Cleveland, which was built in the 1980s and early 1990s, is rented space, Mr. Green said. Ocoee Commons will be occupant-owned, which will allow professionals to build equity, he said. The space will sell for $155 a square foot, which provides the shell, he said. The build out work is extra.

Parking will be provided all around the buildings, Mr. Caywood said.

Mr. Green is managing director of Green Development Group LLC of Tampa, Fla. He recently developed Stuart Commons, a similar office condo project, behind Hobby Lobby. The occupants of that complex are nearing completion of the interior buildout.

Stuart Commons was Mr. Green’s first commercial project in Cleveland, he said. He found the city while visiting friends there. Before Stuart Commons, he said he built two houses in Cleveland to get acquainted with the local market.