YOUNGSTOWN, Ohio – Ohio One Corp., a commercial real estate firm that has spearheaded downtown development for 52 years, has sold its remaining property in the central business district.
The company confirms that the landmark Ohio One office building at 25 E. Boardman St. was sold to a newly formed local entity, Ohio One Group LLC. The sale was expected to close Thursday.
“It’s been a great run,” said Richard Mills, president. His father, Richard E. Mills, established Ohio One Corp. in 1973 in the newly completed City Centre One building.
Leaving downtown after more than 50 years is bittersweet, Mills reflected. “I’ve watched downtown transition from a retail center to a business, residential and entertainment destination.”
Letters notifying tenants of the ownership transition were delivered Wednesday. The sale price of the building was not disclosed.
“This marks the end of our family’s 50-year stewardship of this cherished property,” Mills wrote. “We are deeply grateful for the privilege of serving you and being part of downtown Youngstown’s vibrant community.”
The new owner, Ohio One Group, is composed of investors Eric Holm, Ryan Kelly, Michael and Michelle Wells and Sherry DeMar.
“We’re excited about continuing the legacy of the Ohio One building and continuing the service quality that the Mills family has exhibited,” Holm said.
The deal came together within the past month or so, Kelly added. “It’s a really good group,” he said. “It was just an opportunity for us to help revitalize and impact the downtown.”
The six-story Ohio One building was constructed in 1930 as the headquarters for Ohio Edison and encompasses 54,000 square feet, according to Ohio One Corp.’s website. Among the building’s tenants are The Business Journal, Students Motivated by the Arts, Community Legal Aid, KO Consulting and the Ohio Chapter of the National Safety Council.
Ohio One Group is planning an open house Sept. 26, according to a press release.
The Mills family helped remake downtown with the acquisition, renovation and construction of some of its most iconic buildings. The company built City Centre One in 1973 and acquired the former Ohio Edison Building in 1975.
Three years later, Ohio One Corp. purchased and renovated the Rica building along Champion Street, and the following year it finished construction on a new office building for IBM on East Federal Street.
Then, in 1988, Ohio One acquired and fully renovated the former Haber Furniture store building on Commerce Street into a class A office space.
That property – known today as the Commerce Building – was sold along with City Centre One to the Western Reserve Port Authority earlier this year.
In November 2023, the Mahoning Valley Historical Society purchased the former IBM Building, and in 2022, the Rica Building – now known as the Apollo Building — was sold to investor Tim Huber.
“We are excited for Ohio One’s future under its new ownership and management,” Mills said. “They are committed to the vitality of downtown Youngstown and the success of Ohio One’s tenants.”