Richfield, Ohio Commercial Real Estate 0 Listings

Richfield, Ohio: A Premier Destination for Commercial Real Estate

Introduction

Richfield, Ohio, is strategically situated in the Northeast Ohio region, making it a compelling destination for commercial real estate (CRE) investments. With a population of roughly 3,500, Richfield offers a blend of small-town charm and access to major economic hubs. The city's economy is primarily driven by logistics, manufacturing, and professional services, supported by its advantageous positioning between Akron and Cleveland. Richfield's CRE landscape is diverse, featuring opportunities in office, industrial, and retail sectors.

Economic and Industry Overview

Richfield's economy is anchored by several key industries, including:

Logistics and Distribution: Proximity to major highways makes Richfield an ideal spot for distribution centers.
Manufacturing: The region's historical emphasis on manufacturing continues to drive demand for industrial properties.
Professional Services: The presence of corporate offices and business parks boosts the need for office space.

Efforts by regional economic development agencies, such as the Greater Akron Chamber, support initiatives to attract new businesses and expand existing ones, further enhancing CRE demand.

Strategic Location and Transportation Infrastructure

Richfield is strategically located with easy access to major transportation networks, including:

Highways: Interstates 77 and 80 (Ohio Turnpike) intersect near Richfield, facilitating efficient transportation.
Airports: Richfield is approximately 20 miles from Cleveland Hopkins International Airport and 25 miles from Akron-Canton Airport.
Rail Access: While primarily road-focused, the nearby cities offer rail connections for freight.

The city's logistical advantages, including proximity to labor pools and major markets, make it a prime location for distribution and industrial operations. For more information on transportation infrastructure, visit the Ohio Department of Transportation.

Commercial Real Estate Inventory & Zoning

Richfield offers a variety of CRE submarkets, including:

Industrial Corridors: Areas near highways are prime for industrial and logistics facilities.
Office Parks: Business parks cater to professional services and corporate offices.
Retail Spaces: Local retail opportunities are available, especially in mixed-use developments.

The town has recently updated its zoning regulations to encourage mixed-use developments and offers incentives for sustainable building practices. Detailed zoning maps can be accessed via the Richfield Planning and Zoning Department.

Major Employers and Institutions

Richfield hosts several significant employers that drive demand for CRE, including:

National Interstate Insurance: A major corporate presence in the area.
OEConnection: A technology company headquartered in Richfield.
Group Management Services: A significant employer offering professional services.

For a complete list of top employers, visit the Richfield Village Business Directory.

Notable Commercial Developments & Projects

Richfield is home to several notable developments:

Richfield Crossroads: A mixed-use development featuring retail, office, and residential units.
Opportunity Zones: Parts of Richfield qualify for Opportunity Zone tax incentives, sparking interest in development.

Public-private partnerships are actively shaping the landscape, with plans available at the Richfield Planning Department.

Building Permits, Planning, and Development Tools

For those interested in development in Richfield, the following resources are essential:

Market Data & Economic Reports

Richfield's market data and economic insights are supported by public datasets, such as those from Census.gov and the city's Open Data Portal. Brevitas leverages AI-powered aggregation from these sources to provide comprehensive market insights. Explore Brevitas-powered dashboards for Richfield here.