Tuesday, July 09, 2013BOARDMAN, Ohio -- Nearly all the retail space on U.S. Route 224 between the Interstate 680 ramps and the Toys R Us building is occupied, and Bill Kutlick says he's working on filling one of the prime remaining pieces of property. Kutlick, broker/owner of Kutlick Realty LLC, is marketing the Tiffany Square plaza and working with Davis Construction, which is giving the 178,000-square-foot retail space a makeover.
"It probably was one of the first or second strip center built in that corridor. At this time, it needs a complete facelift to it," Kutlick said. The property is owned by a real estate partnership controlled by the Mayo family.
The former Value City Department Store and Office Depot stores took up the majority of the plaza's space, or about 120,000 square feet, Kutlick said. Tenants in the remaining space include National Tire and Battery, the Catherine's women's apparel store and Michael Alberini's Restaurant & Wine Shop.
"It is definitely a prime piece of property," probably the best positioned piece of retail property on Route 224, with access from the 224 corridor itself, South Avenue and Tiffany Boulevard, Kutlick said.
"The façade is to be entirely redone, and several outparcels are proposed along the major roads for stand-alone tenants," said Sarah Gartland, Boardman Township zoning inspector.
A new roof for the plaza is about 80% complete, featuring the "highest insulating factors possible" for energy efficiency, Kutlick said. Lighting and landscaping will be upgraded to contemporary standards for national retailers, and the parking lot will be completely restripped.
The site plan submitted by the owners calls for more than 100 new trees and more than 200 new shrubs, Gartland said.
"The ownership here has decided to invest a substantial amount of money into this spot primarily because of its position in this market," Kutlick said. "The location warrants the upgrade we're doing to it."
Kutlick says he is focusing on filling the anchor spaces in the strip plaza. He would only say he is "close" to finalizing deals, but acknowledged that "close is a relative term" in negotiations. "These things, they take on a timeline of their own.," he said.
Good Cents Grocery + More, a value-oriented chain launched last year by Pittsburgh-based Giant Eagle, which operates several stores in the region, contacted Gartland about information but has not applied for anything, she said.
"We are continually evaluating opportunities to expand all of our banners but we have no current plans to open a new store in the Youngstown area," said Giant Eagle spokesman Daniel Donovan when contacted Monday.
Kutlick declined to comment on potential future tenants for the plaza spaces. "We will make an announcement when the time is right," he remarked.
Copyright 2013 The Business Journal, Youngstown, Ohio.
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