Toys R Us Site Sold for $1.5M, Available for Lease
YOUNGSTOWN, Ohio — Developers are working to bring a regional or national retailer to the former Boardman Toys R Us storefront following its acquisition by Trilogy Realty & Development of Canfield for $1.5 million.
Trilogy purchased the property on Jan. 4, according to records from the office of the Mahoning County Auditor. The Boardman Toys R Us closed in June. Trilogy also purchased the ground lease for the adjoining former Petco Animal Supplies Inc. building, which closed in November.
The nearly 47,000-square-foot, big box retail space is in a prime location off U.S. Route 224, says Bill Kutlick, president and broker of Kutlick Realty LLC, leasing agent for the property. Every day, some 32,000 vehicles pass the property, 317 Boardman-Poland Road, and it is within a half-mile of the Southern Park Mall, he says.
The property has been listed on Kutlick’s website for a few weeks.
“There are about eight to 10 tenant prospects we have it out to,” Kutlick says. “We’re just trying to get the people scheduled to come into town.”
Trilogy is prepared to do an exterior facade renovation, Kutlick continues, and the property could be subdivided into two spaces if needed. “But we won’t split it up anymore than that,” he says.
Trilogy has purchased Toys R Us buildings in Mentor and Canton, as well as a Babies R Us in Fort Wayne, Ind. “So we have four big boxes that we’re looking to sell,” says James Sabatine Jr., owner of Trilogy. All four buildings are listed for lease, he adds.
Trilogy manages multiple shopping centers in Boardman, including the new 9,000-square-foot plaza near Chemical Bank’s Boardman location on Route 224, where CoreLife Eatery will be opening later this winter, he said.
“This area needed a really good, healthy restaurant,” Sabatine said. “I drive out of my way to go to one. Now we’re going to have one here.”
Copyright 2020 The Business Journal, Youngstown, Ohio.