Cleveland Steel Container Acquires Former Nannicola Building
YOUNGSTOWN, Ohio – An employee-owned manufacturer based in Hudson has acquired the former Nannicola building at 2750 Salt Springs Road for $4.2 million.
Cleveland Steel Container Corp., formed in 1963, manufactures steel pails mostly used by industrial customers, according to its website.
One of the company’s steel-pail manufacturing operations is currently located in Niles. Cleveland Steel Container also operates a technical center in Streetsboro.
The company has undergone major expansions over the past 30 years, acquiring pail manufacturing companies and opening new operations in California, Illinois, Ohio and Texas.
In 2022, the company relocated to new corporate offices in Hudson and is governed under an employee-stock ownership plan, or ESOP.
According to records from the Mahoning County auditor’s office, the deal closed March 23. The building was built during the early 1990s at the Salt Springs Road Business Park. The building and approximately 8 acres of land are appraised at $1.7 million for tax purposes.
Platz Realty Group of Canfield brokered the sale.
“It’s a great addition to our area from a work standpoint,” said Don Thomas, managing partner at Platz. “They’re bringing some operations here that are segments in stamping. It’s in line with what they’re doing in Trumbull County,” he said.
The sale includes 61,348 square feet of office and warehouse space at Salt Springs, and another 12,000-square-foot warehouse at 1100 Corby Road that is already under lease.
Calls to Cleveland Steel Container seeking comment on its plans for the building were not immediately returned.
The Nannicola Family Partnership purchased the building in 1996 for $1.5 million, records show. The company distributed gaming products for fairs, charity events and bingo games.
Cleveland-based Arrow International acquired Nannicola’s gaming division two years ago. Arrow relocated that business to Cleveland, while Nannicola relocated its other operations to a site on Connecticut Avenue in Youngstown.
Thomas said the building was listed for sale in September and the building was vacated last month.
“It moved pretty quickly,” Thomas said. “We had really good activity on the building. We do not have a lot of flex-spaced warehouses, and this was a building that was turnkey-ready. The Nannicola family took really good care of it.”
Thomas said that there is a healthy demand for reliable flex-space across the Mahoning Valley. However, the region needs more of it.
“We need more flex-space-ready businesses,” he said. “There is great activity among businesses wanting to come to the Mahoning Valley, and we should be taking advantage of it.”
Copyright 2023 The Business Journal, Youngstown, Ohio.