Banking & Finance

BigK Sells for $1.675M, Antone’s for $700K

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CALCUTTA, Ohio –The CEO of the Busy Beaver chain of building product stores has purchased the BigK (Kmart) store at 15891 state Route 170 here for $1.675 million.

The transaction, which closed Aug. 22, was the largest commercial real estate deal last month in Columbiana, Mahoning and Trumbull counties.

The BigK store here has escaped the widespread closings of Kmart stores by its parent company, Sears Holdings Corp., which will have shuttered nearly 360 stores by year-end.

The seller was ELO Fields LLC, a private entity controlled by Steven Fields of Boca Raton, Fla. The buyer, Calcutta Realty Associates LLC, is controlled by Pittsburgh-area resident Joseph Kallen, according to Fields. Kallen is chairman and CEO of Busy Beaver, a chain of 18 stores across Pennsylvania, Ohio and West Virginia.

This past June, a Kallen-affiliated entity, paid $847,500 for Salem Plaza at 2340-2366 E. State St. in Salem, a shopping center that includes one of his Busy Beaver stores.

BigK leases the store at 15891 SR 170 through March 2020, according to Fields, who indicated the store produces unofficial sales of $10 million a year and is cash-flow positive.

Other large real estate transactions in the three-county region last month include the sale of a building and vacant land in the 3700 block of Mahoning Avenue in Austintown. Mac Rental Group LLC paid 480,000 for the site. The seller was SVC 1 LLC.

In Boardman, FIDC 68 LLC paid $700,000 to CSB Mortgage Co. to acquire the former Antone’s banquet center at 8578 Market St. The transaction closed Aug. 31.

And in Youngstown, the building that housed the former Campus Book and Supply at 23 Lincoln Ave. was sold by Campus Realty to Youngstown Campus Associates LLC. The sale price was $635,000.

Youngstown Campus Associates LLC is a subsidiary of LRC Realty Inc. of Akron, which is building The Enclave housing and retail complex for Youngstown State University students.

Editor’s note: See the full list of the largest commercial real estate transactions during the month of August in the Mid-September edition of The Business Journal.

Published by The Business Journal, Youngstown, Ohio.