LG Solution Partner Purchases Niles Building for $160,000
NILES, Ohio – A downtown office building that was once home to PNC Bank was recently sold for $160,000 to a firm related to Ultium Cells LLC’s $2.3 billion electric-vehicle battery plant in Lordstown.
Documents filed in the Trumbull County auditor’s office show that the seven-story Niles Professional Building at 2 S. Main St. was sold to LG Solution Partner LLC on Nov. 4.
The new owners provide software services to South Korea-based LG Energy Solution, the company that has partnered with General Motors in Ultium Cells LLC. Ultium is constructing a $2.3 billion electric-vehicle battery manufacturing plant in nearby Lordstown, according to Jinnie Hong, manager of the building.
LG Solution Partner is advertising for an equipment maintenance manager in Lordstown who would be “responsible for assuring that equipment is fully operational to support the production of automotive battery products through the installation, maintenance and repair of battery manufacturing equipment,” according to a post on the website Jobsearcher.
According to documents filed with the Ohio Secretary of State, LG Solution Partner was formed on May 17, 2021. The registered agent for the company is Paul Doohyun Yoon of Hudson, Ohio.
Hong said LG Solution Partner is planning to renovate space and locate its offices there. The company expects to employ nine at first.
“It’s very close to Lordstown and it’s a good building,” she said.
The Niles Professional Building is the tallest office building in the city. It was built in 1930 and is considered representative of the Art Deco architectural movement of that period.
The building’s previous owner, Marco Dichiro, purchased the structure in July 2020 from City Bank Investment Co. Ltd. for $120,000 after the building spent more than a year on the market.
At the time, Dichiro told news outlets that he had plans for the building that included a brewery, coffee shop and potentially an art center. However, those plans were never put in motion.
Among the tenants in the building are the offices for the Shaker Law Firm on the fifth floor. The building is about 60% leased, and all tenants will remain in the building.
Copyright 2022 The Business Journal, Youngstown, Ohio.