About Our Company
The Richard E. Jacobs Group has long been one of the nation’s most established and respected owners, developers, and managers of commercial real estate. It was founded in 1955 by the late Richard E. Jacobs and his late brother David H. Jacobs and is headquartered in suburban Cleveland, Ohio. The Jacobs Group was among the early pioneering companies in the development of major enclosed regional shopping malls across America. Today, the company remains as a prominent national developer of shopping centers, office buildings, and mixed-use developments. For information about the company’s leadership team, please click on the Organization tab above.
Throughout six different decades, the Jacobs Group has developed, owned, and managed some of the nation’s most successful regional shopping centers. By 2,000 the company had grown to become the largest privately held shopping center company in the United States, owning and managing over 45 million square feet of retail space in 40 regional centers located coast to coast. This included some of the nation’s most successful super-regional centers, such as Southcenter in Seattle, Hanes Mall in Winston Salem, N.C., SouthPark Center in Cleveland, Belden Village in Canton, Ohio, Fayette Mall in Lexington, Kentucky, Brookfield Square in Milwaukee, and Chesterfield Mall in St. Louis.
The company remains today as a major and very active developer of prominent retail, office, and hotel projects. One of its latest completed retail developments is Triangle Town Center, located in Raleigh, North Carolina. This architecturally stunning project contains 1.4 million square feet of retail and dining in both enclosed and outdoor settings. It is anchored by Belk, Dillard’s, Macy's, Sears, and the state’s only Saks Fifth Avenue location. One of its most unique and impressive features is an outdoor village of restaurants and shops called Triangle Town Commons which features a man-made river that runs through the middle of the project’s main street. Triangle Town Center became a 50-50 joint venture with CBL & Associates Properties, Inc. in December, 2005 and is now leased and managed by CBL.
Next on the development calendar is Cypress Creek Town Center, located just north of Tampa, Florida in Pasco County. Construction is now underway for this 1 million square foot open air complex that will feature major retailers such as Super Target and Kohl's as well as additional anchors, destination restaurants, and specialty shops. Located on Interstate 75 at State Road 56, Cypress Creek Town Center is scheduled to open in 2011 and will be the hub of a larger mixed-use development featuring office, hotel, and residential components.
The Florida market is a busy place for The Jacobs Group. Gulf Coast Town Center, a 1.8 million square foot regional shopping, dining, and entertainment center is now open in Lee County, between Naples and Fort Myers along the busy I-75. corridor. The first phase power center opened in Fall, 2005 and features such anchors as Target, Costco and Regal Cinemas. Its second phase lifestyle center features Bass Pro Shops, Belk, JCPenney, and Dick's Sporting Goods as well as restaurants and specialty shops in a lushly landscaped open air environment. For more information, including a listing of key retail tenants, click on the highlighted name above. Gulf Coast Town Center is a 50-50 joint venture with CBL & Associates Properties, Inc. and is leased and managed by CBL.
The Cleveland, Ohio market is not only home to The Jacobs Group, it also represents some of the company’s showcase properties as well as new developments. In suburban Cleveland, The Jacobs Group is the managing partner and developer of the 630-acre Chagrin Highlands development, a world-class corporate community containing numerous office, retail, hotel, and service components. The company was also the developer of Key Center in downtown Cleveland, which features the 57-story Key Tower, Ohio’s tallest building, the 400-room Cleveland Marriott Downtown, and the restoration of the historic Society for Savings Building, now headquarters of Key Corp., one of the nation’s leading financial institutions. Key Center is now owned by Well Real Estate Funds with leasing and management provided by JRES -- Jacobs Real Estate Services LLC.
And, the Cleveland market is also the location for two major new retail centers now open or under cosntruction. First, the former Westgate Mall in suburban Fairview Park was redeveloped and opened in 2008 as a new open air center anchored by Kohl’s, Target, Lowe’s, and Books-A-Million. Westgate is a joint venture of The Jacobs Group, Centro Properties, and Transwestern Development Company.
And, Avon Crossing is an open air retail center now open in Avon, Ohio in the fast growing Lorain County market located west of Cleveland. This center is anchored by JCPenney and Lowe's, both of which opened in fall, 2008. PETCO will join the center as an additional anchor in fall, 2009. Avon Crossing is the first phase of a much larger planned development district that will include additional retail, hotels, office, and light industrial usages. The eastern end of this complex is the site of a new I-90 / Lear Nagle Road interchange opening in 2010. There, the Jacobs Group is planning an additional 220 acre component that will be anchored by a new Cleveland Clinic regional medical campus. Look for more information about this exciting project in the near future.