Westlake Elevated breaks ground on commercial units small businesses can purchase

WESTLAKE, Ohio (WOIO) - Ground was broken Tuesday on Westlake Elevated, a development in Westlake that will give small-business owners the option to buy commercial space instead of leasing it.

The first phase includes nine commercial units. The units are intended to give small-business owners flexibility to expand into a new address.

Purchase option

Thomas Lawrence, a developer, local business owner, and the founder of Westlake Elevated, said small-business owners who want to “get out of the garage” or whose businesses are growing need to find more space.

Lawrence said there are not many options for small commercial spaces between 1,000 and 3,000 square feet in the west suburbs of Cleveland.

He said another draw is the opportunity to purchase the space instead of lease it. The smallest units are going for under $300,000 each.

“What we want to offer people is an opportunity to own their business, elevate to the next level, have an investment that they know they’re paying into and over time after 10 years, we feel like the lease payments that you would have paid could have gone towards ownership,” Lawrence said.

Future phases

The first building will have nine units. Plans call for three other buildings, each with multiple units.

The development is located along the Ranney Parkway industrial park in Westlake.

Lawrence said many types of businesses could fit in the spaces, including a small attorney’s office, a golf simulator or a yoga studio.

“It gives small businesses a chance to say to their clients, ‘Hey, we’ve made it. We’ve come far,’” Lawrence said.

The first phase of nine commercial units will open in the summer of 2027. The next three phases should be completed in the next couple of years.