A popular local establishment is set to close soon, with Corner Alley Uptown at Cleveland's University Circle shutting its doors by the end of May.
The bowling alley, restaurant, and entertainment center had been open since 2014, but owner MRN Ltd. says the 22,000 square-foot, two-story space was not making enough money to stay open.
In a statement to WKYC, MRN wrote the following:
The Uptown development, completed in 2014, has been a tremendous success by almost every measure. Occupancy rates for both retail and residential units are consistently over ninety percent. Just as important for University Circle, Uptown proved that visionary large-scale projects could succeed, and many other such projects have followed, adding to the tremendous vitality in the area.
As with all developments, we have learned what works best for this site as time has gone on. While Uptown has been very successful, we found that Corner Alley Uptown was far too large for the market. Last fall we began seeking out opportunities that would allow us to divide the Corner Alley Uptown space into smaller units, to better match the success of the rest of Uptown. Today we are excited to announce that we already have generated strong leasing momentum for these prospective smaller units. We have a signed lease for a new taco and tequila restaurant, are on the verge of securing a lease for a national telecommunications company’s corporate store, and have a further signed letter of intent in place with a major international banking institution. We expect to announce additional tenants soon.
We are excited about the overall success of Uptown and about the future of University Circle, and we remain confident and committed to its place as a major center for economic growth in Cleveland.
University Circle addressed the planned closure in a statement:
"We are disappointed by the news and the decision of MRN to close their business. The Corner Alley will be missed. However, this summer more than 600 new residences will open with more than 20,000 square feet of retail space. University Circle continues to be a destination of choice for residents, workers, and visitors."