FOR IMMEDIATE RELEASE:
October 21, 2014
Contact:
Joe Bell
Director of Corporate
Communications
CAFARO jbell@cafarocompany.com
330-747-2661 ext. 771
724-730-4532 (Mobile)
America’s premier privately held shopping center developer is moving…but not very far. The Cafaro organization, is building its new, 50,000 square foot headquarters on the Eastwood Mall Complex in Niles, Ohio. It will be the largest new office building constructed in the Youngstown-Warren region in the past decade. The company was founded in 1949 in Youngstown, Ohio, and has maintained its corporate offices in that city throughout its history. The decision to make the approximately 8-mile move was based on a careful evaluation of the company’s ongoing needs, the state of the current physical office structure and plans for future growth. “Our current offices were everything we needed when we built them in 1965,” said Co-President Anthony Cafaro,
Jr. “but we’ve dramatically outgrown them. We’re looking for quarters that meet the business and technological needs of the 21 st century. It just makes sense to locate them on the grounds of our flagship retail complex.”
The new, three story headquarters will be attached to Eastwood Mall. The corporate office entrance will be integrated into the existing mall building on its eastern side, between Dillard’s and the Residence Inn by Marriot. The new office structure was designed by Phillips/Sekanick Architects, Inc. of Warren, Ohio. This state-of-the-art
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structure features a dramatic three-story atrium, interior skywalks and a sweeping circular staircase.
This will be the headquarters for approximately 200 professional employees who direct the many functions of the Cafaro organization. Architects, accountants, project managers, attorneys, real estate leasing experts and other highly skilled specialists develop and manage, in-house, more than 30 million square feet of real estate, as well as the company’s investment portfolio. They will enjoy a working environment that is both extremely appealing and technologically advanced. The design maximizes interior space that is exposed to natural light and incorporates high efficiency heating and cooling systems, as well as copious LED lighting. Room automation systems for video and audio conference calls will incorporate 10-foot HD video walls with multiple components. The building will have numerous collaboration hubs equipped with large monitors and mobile device connections. The interior furnishings are flexible and truly sustainable over time. Walls and furniture will be able to move and adapt with our organization, allowing it to change and grow cost effectively with minimal waste. An added bonus is the direct access to the interior mall, hotel and conference center.
Cafaro Co-
President William A. Cafaro noted that “The ongoing support we have received from the people of Trumbull County was instrumental in our decision to embark on this new project. We’ve enjoyed great relationships with other business people, the
Trumbull County Commissioners, the Mayor and City Councilmen of Niles. Most importantly, many of the people who regularly patronize the Eastwood Mall Complex are also our friends and neighbors.”
The first phase of this project, which encompasses site work, utility relocation and structural steel erection, is almost complete. Bids will be solicited during the week of October 26 to select a general contractor for the remaining 80% of the headquarters construction. It is expected that the building will be ready for occupancy sometime in late 2015.
Construction is now imminent on the adjacent Eastwood Conference Center .
This new facility is designed for a variety of business and social functions. For meal
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service, it will be able to accommodate up to 1,000 guests at a time. Request-forproposal information will soon be available on the Cafaro website, www.cafarocompany.com
, for parties interested in operating the food service for the
Conference Center.
Because the demand for hotel space continues to grow, a new Hampton Inn &
Suites will soon be rising on the site currently occupied by the Eastwood Expo Center.
This new, four-story hotel will have approximately 100 rooms. TMI Hospitality, which recently opened the Residence Inn by Marriott on the Eastwood Complex, will also own and operate the Hampton Inn & Suites. An opening date has not yet been determined.
The total value of this multi-part project (office building, conference center and
Hampton Inn) is estimated to be in the tens-of-millions of dollars. A more precise value will be determined once construction bids are awarded.
The Cafaro family of companies, currently based in Youngstown, Ohio is the nation’s largest privately held shopping center developer. The Cafaro organization owns and oversees more than 50 enclosed shopping malls, open-air shopping centers and other commercial real estate properties in 10 states. Founded by the late William
M. Cafaro in the 1940's, the firm is now in its seventh decade as a family owned and managed business. For more information, visit online at www.cafarocompany.com
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