Real Estate

Aaron’s Furniture Building Sold for $1.8M

YOUNGSTOWN, Ohio — The Aaron’s Furniture building at 5500 Youngstown-Warren Road in Niles has been sold for $1.8 million.

The sale of the 10,958-square-foot building closed Jan. 21 to Vereit Real Estate LP of Phoenix, Ariz., according to documents from the Trumbull County Auditor.

The real estate investment firm manages a portfolio of some 3,900 retail, restaurant, office and industrial real estate in 49 states plus Puerto Rico, according to its website. It owns several properties in Ohio, including two other Aaron’s buildings in Kent and North Olmsted.

Locally, the company also owns the Advance Auto Parts building in Salem, the Citizens Bank and Outback Steakhouse buildings in Boardman, Family Dollar and KFC buildings in Warren, the Red Lobster buildings in Niles and Boardman, and the Sherwin-Williams building in Boardman.

A full list of its Ohio properties can be found here.

Built in 1972, the building sits on 0.83 acres and was remodeled in 2010, according to the auditor documents. Aaron’s purchased the building in February of that year for $675,000.

Image: Trumbull County Auditor

Copyright 2020 The Business Journal, Youngstown, Ohio.