HMS Mfg. Buys Former Parker Hannifin Building for $4M
YOUNGSTOWN, Ohio – A subsidiary of HMS Mfg., based in Troy, Mich., has purchased the former Parker Hannifin Corp. plant on Intertech Drive and plans to expand its distribution operations here.
According to documents on file at the Mahoning County Recorder’s office, Noah Co. LLC purchased the 143,789-square-foot building at the Salt Springs Road Business Park for $4 million.
The buyer’s address on the deed matches that of HMS, which designs, manufactures and distributes goods such as laundry baskets, storage bins, waste containers and other housewares.
HMS currently operates a 400,000-square-foot distribution center from the former Toys R Us warehouse on Geoffrey Trail at the business park and employs about 80 there. The latest acquisition would expand the company’s presence in Youngstown.
“The deal closed Oct. 19,” said Jim Grantz, broker associate at Lewis Realty. The company, he noted, would use the space to distribute its products to big box retailers such as Lowe’s, Target and Walmart.
The company said that since HMS is privately held, it does not discuss its business plans publicly and said it would not comment on the expansion.
Grantz said there were some incentives the company could have used through the city but HMS declined to do so.
“The building’s been on the market for about a year-and-a-half,” Grantz noted. It was under contract with another party at one time, but the deal fell through when the party entered into a merger agreement that changed the needs of the prospective buyer.
Officials from the Youngstown/Warren Regional Chamber helped with the project, said Lauren Johnson manager of business development.
“We are really pleased that they wanted to expand here,” she said, noting the company had options to go elsewhere.
According to its website, HMS is a global manufacturer of home product solutions established in 1987. Last year, the company expanded its brand offerings with the launch of StolaTM, a line of fabric storage products, as well as a new collection of refrigerator and pantry organization products.
The company is also licensed to distribute Hefty, Home Logic and B+In brand names. HMS lists warehouse locations in Ohio, Texas, and Tennessee, as well as an overseas office in Hong Kong.
Pictured: A subsidiary of HMS Mfg. purchased the former Parker Hannifin building on Intertech Drive for $4 million.
Copyright 2024 The Business Journal, Youngstown, Ohio.
