Retail Plaza Sells for Less than 16 Years Ago

BOARDMAN, Ohio – The West Glen Plaza at 8600 Glenwood Ave. was sold last week to a company that operates the Village Plaza in Columbiana. A contiguous parcel, 8590 Glenwood Ave., where a pizza shop sits, was also sold.

The combined price was $1.25 million. The deal closed May 12.

The new owner of the properties is Furr-Tullo’s LLC, an entity incorporated in March 2003 by Michael B. Furrie. The seller is Oakmont Plaza LLC, incorporated in October 2004 by Thomas S. Komara.

The 16,625-square-foot strip plaza and pizza shop are situated at the intersection of Glenwood Avenue with Western Reserve Road and are fully leased, according to the listing. The list asking price was $1.55 million.

The previous owner, Oakmont Plaza, paid $1,537,500 when it bought the properties in March 2006 from Canfield Centre Plaza LLC.

That company, in turn, paid $1.17 million for the properties, which were platted in 1996 and developed by Western Reserve Development Co.

The sale listing touts the “upcoming street widening” of Western Reserve Road as likely to “bring additional traffic.”

Published by The Business Journal, Youngstown, Ohio.