YOUNGSTOWN, Ohio – An investment group based in New York City has purchased two distribution and warehouse operations in the Salt Springs Road Business Park for more than $36.4 million, according to records filed with the Mahoning County Auditor’s office.
FNLR Pinafore LLC, an entity associated with New York-based Fortress Investment Group, acquired the former Toys R Us distribution center at 1500 Geoffrey Trail for $28 million from HMS Mfg. Co. The sale was recorded Feb. 14.
HMS, a privately held company based in Troy, Mich., is a global manufacturer of home products such as plastic waste containers, laundry baskets and storage bins for major brand names such as Hefty and Home Logic. According to auditor records, HMS purchased the distribution center on Feb. 1, 2021, for $15.8 million.
The 440,000-square-foot distribution center was constructed in 1991 to house operations for retailer Toys R Us, serving as a major anchor to the Salt Springs business park. The toy franchise filed bankruptcy in September 2017 and closed its warehousing operations in Youngstown.
HMS Mfg., however, moved in the following year and purchased the building outright in 2021.
FNLR also on Feb. 14 purchased the former Parker Hannifin Corp. building at 2701 Intertech Drive from HMS affiliate Noah Co. LLC for $8.39 million, records show.
Noah purchased the building in 2018 for $4 million, according to the auditor’s website, so it could expand its operations in Youngstown.
HMS continues to operate from both locations.
The company, established in 1987, lists manufacturing, office and distribution locations in Youngstown; Troy, Mich.; Little Rock, Ark.; and Hong Kong.
Pictured at top: An investment group has purchased this building at 1500 Geoffrey Trail from HMS Mfg. Co. The building formerly was a Toys R Us distribution center.