Sunday, December 22, 2024

North Canton developer team purchases Avon Lake Towne Center shopping plaza

Must read

AVON LAKE, Ohio — One of the most asked questions in Avon Lake is, “Will anything ever go into the old Tops grocery store space at the Avon Lake Towne Center shopping plaza?”

An answer may be coming soon.

It was announced this week that a North Canton developer team has purchased the shopping center at 32844 Walker Road.

The more than 50-year-old team of DeHoff Development Co. and Lemmon Development have joined together to purchase the shopping plaza, according to a press release.

The plaza, previously owned by Kopf Properties, became available for sale earlier this year. The DeHoff/Lemmon team took advantage of the opportunity to purchase the space.

Saddled with a long-term lease with the former Tops grocery store, the shopping center’s anchor space of 59,000-square-feet has sat vacant for 17 years.

That lease restriction was lifted in April 2023 and now the anchor space is available.

“It was always Herman R. ‘Bucky’ Kopf’s vision to redevelop the Avon Lake Towne Center shopping plaza, but unfortunately, he passed away and was unable to complete it,” Barry Edelstein, executive vice president of Kopf Properties, said in the press release.

“After his passing, the search began to find another developer to continue the process, and we feel that we found the best one in the area.

“The DeHoff/Lemmon team will own and manage the plaza. Picking them gives both Kopf and the City of Avon Lake the comfort that the job will be done with excellence.”

City officials are thrilled with the announcement.

“The Avon Lake community has long anticipated the revitalization of the Towne Center area, including the former Tops grocery store,” Mayor Mark Spaetzel said in an email.

“With the acquisition of the property by DeHoff, we welcome an experienced developer poised to transform this key location into a vibrant commercial district.

“Discussions with both Kopf and DeHoff began earlier this year, and we are excited to have them contributing to Avon Lake’s ongoing renaissance,” Spaetzel said.

“Coupled with the upcoming development of the former power plant site and the commercial and industrial growth on Pin Oak Parkway, this is truly an exciting time for Avon Lake.”

Apart from the vacant anchor space, the shopping plaza is fully occupied. The DeHoff/Lemmon team has started to meet with existing tenants to continue a good working relationship in order to make the transition of ownership and management as easy and seamless as possible.

“Our first order of business is to get acquainted with the current tenants, do a refresh of the building façade and parking lot, and, of course, to find a tenant to lease the vacant anchor space,” said Dan DeHoff, president of DeHoff Development Company.

“DeHoff and Lemmon have been working on the transaction for the better part of 2024, meeting with city officials, working through due diligence and looking for possible anchor tenants.

“The reception from the city has been positive and the strong growth in the area is encouraging.

“Public/private collaboration with the city administration, mayor and council members is key in these types of redevelopment transactions and success is rarely reached without it.”

Ted Esborn, the city’s community development director, acknowledged the work the DeHoff/Lemmon team has already done throughout Ohio, including communities like Green and Jackson Township.

He said he looks forward to working with the team to bring new life into the shopping plaza.

“DeHoff Development has worked with local governments to achieve vibrant placemaking, creating the kind of space that our planning efforts envision for our center of town,” Esborn said in the press release.

“They are dedicated to supporting our existing businesses, while seeking out new tenants that will serve our residents.

“We look forward to working with DeHoff in the years to come, and we are excited about the economic development possibilities.”

Known for their mixed-use developments concentrated in Northeast Ohio, the team has also done extensive retail, industrial, multi-family, senior housing and single-family residential development.

For information regarding leasing opportunities at Avon Lake Towne Center, contact Beth Borda at 330-499-8153 or email her at bborda@dehoff.com.

Read more from the Sun Sentinel.

Latest article