Vidale Group Purchases Niles Plaza for $4.4M
NILES, Ohio – An investment group headed by developer Terrill Vidale has purchased the Shoppes at Niles at 5700 Youngstown-Warren Road for $4.4 million.
“I’m excited about our acquisition in Niles,” Vidale said. “I see all the momentum right now – all the new construction with McAllister’s, Meijer, Longhorn, Cane’s, Bass Pro Shops.”
The deal closed Tuesday morning, said Vidale, principal of YAK Capital Group based in Canfield.
Vidale said the Trumbull County market holds great potential and emphasized he wants to play a part of future growth there.
Initially, Vidale said he was looking to construct a second Prosper Centre plaza somewhere in Trumbull County but found the existing site for sale, just across the street from the Eastwood Mall complex.
“It looks very similar to the Prosper Centre,” Vidale said of his plaza along U.S. Route 224 in Mahoning County. “This is exactly what I was looking for. It’s a beautiful plaza with great tenants.”
Vidale said the plaza is approximately 20 years old and houses tenants such as Aspen Dental, Verizon, a Great Clips hair salon and a CheckSmart. The plaza is approximately 11,000 square feet.
The acquisition is Vidale’s largest to date, he said, and noted he’s interested in acquiring other locations in Trumbull County. “We’re looking at several deals right now in the Trumbull County area, so we’re going to be very active.”
Vidale last year finished construction on his group’s Prosper Centre, a $3.2 million plaza at 15 Boardman-Canfield Road.
Pictured at top: Terrill Vidale stands in the parking lot at the Shoppes at Niles plaza.
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