The Coral Company

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Shaker Square Case Study

The Coral Company acquired historic Shaker Square in 2004, when the asset was suffering from 70% financial vacancy and was tied up in a combative foreclosure process. Coral was faced with the challenge of finding a new vision for the Square and delivering on the new vision.

The Coral Company completed exhaustive research on the history of the Square and the demographics of the trade areas served by the Square and worked with the mortgage holders to rescue the Square from the foreclosure process. The resulting vision for the Square was captured in the signature phrase “shaker square – night and day.” During the day, the Square would be a neighborhood shopping center. And in the evening, a restaurant and entertainment destination. Today Shaker Square is 98% occupied, offers dining at 8 restaurants, hosts the North Union Farmers Market every Saturday, and offers the community many events and programs, including the Shaker Square summer jazz series. Shaker Square has been re-established as the town center for the neighborhoods around the Square.