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20 Federal Gets Tenant as RFP Deadline Nears
YOUNGSTOWN, Ohio -- A new tenant was approved Thursday to occupy the city-owned 20 Federal Place food court, action that comes a week before the city deadline for proposals to buy the property.
The city’s Board of Control approved a lease agreement with New Seasonings Nutritional Services, Youngstown, doing business as New Seasonings Café, for 640 square feet of space in the food court. Bo Willie’s Soul Food had occupied the slot, vacant for about eight months.
The main focus of the menu will be breakfast items, although it will feature some lunch items as well, said Sandra Robinson, owner. She now operates New Seasonings Café in the Newport Branch of the Public Library of Youngstown and Mahoning County on Market Street.
The downtown location is attractive because of the greater amount of activity due to VXI Global Solutions Inc., Robinson said, which occupies most of 20 Federal Place.
The lease, which begins Oct. 31, runs for three years, with a three-year renewal option, said Sean McKinney, city building and grounds commissioner. New Seasonings will pay $6 per square foot rent for the first year of the agreement, $6.50 for the second year and $7 for the third year.
20 Federal is at 75% occupancy now, McKinney said.
The city set Oct. 3 deadline as the deadline for development proposals for the building, which it acquired in 2004. No parties submitted a proposal to buy the building by the July 6 deadline of an earlier request for proposals. Los Angeles-based VXI, a call center operator that occupies more than 2½ floors of the building, requested additional days to respond.
VXI and Cortland developer Brian Ross have expressed interest in the building, McKinney reported.
David Bozanich, the city’s finance director, said he received calls from two additional parties he did not identify.
“Whether they materialize into full-blown proposals, that’ll be determined next Friday,” Bozanich remarked. “Whether the proposals are acceptable to the city, that’s another issue, but I believe we will receive actual proposals,” he predicted.
“They sound encouraging but you don’t know until you get the proposals.”
Copyright 2014 The Business Journal, Youngstown, Ohio.
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