Pennsylvania-dependent Penske Truck Leasing has shut on its purchase of the previous Donzell’s Flower & Garden home in Akron.
The firm’s real estate consultant, SVN Summit Industrial Serious Estate Advisors in Fairlawn, introduced Thursday, Jan. 7, that Penske has accomplished its obtain and the 10-acre website will become a truck rental and assistance center. SVN controlling director Jerry Fiume said he and SVN associate adviser Aaron Davis facilitated the sale.
SVN mentioned the internet site, positioned at 937 E. Waterloo Road, “will be the dwelling of made use of-truck gross sales, one-way rentals to local professional prospects and buyers, and comprehensive-company truck leasing with contracted services.”
That involves creating a truck-company heart and about 35,000 square toes of place of work room in a new making prepared for the web-site, SVN explained in its announcement. The truck facility will consist of a clean bay and a three-lane gas and diesel fueling heart for Penske’s vehicles.
Which is in line with what Penske advised the city it would do with the web site when it asked for and obtained authorization to construct the facility very last year. Penske believed then that the venture would expense $2.5 million.
SVN reported the assets marketed for $950,000.
Penske public relations supervisor Kim Harmsen declined to elaborate on the project’s charge or the employment it can be likely to build, but claimed the company programs to start off building on the internet site up coming summer time.
The venture brings a new organization to a section of town that is recognized for housing industrial and warehousing activities, and so is a fantastic fit, explained Jason Segedy, Akron’s director of planning and urban improvement.
“I think which is going to be a fantastic re-use of the Donzell’s residence,” Segedy said.
It also will save a sizeable parcel from lying dormant, he reported.
“There could have been a problem where by Donzell’s sat vacant for a really long time. … We were genuinely appreciative that Penske moved ahead,” Segedy extra.
The spot is in the East Akron community, but around the nexus of that place, Firestone Park and Ellet. The web page has uncomplicated obtain and is quite near to Akron Executive (Fulton) Airport, so the town hopes more development will follow Penske’s, Segedy explained.
Fiume mentioned the spot is ripe for a kind of organization and industrial gentrification. He added that Penkse’s challenge, which he reported will be a far nicer facility than most truck rental locations, could aid.
“This is a wonderful challenge for Akron,” Fiume stated. “The Penske task will proceed to add to the renaissance that Akron is enduring and help bounce-start this portion of city.”
The website by itself is very well regarded to lots of Akronites because of the previous backyard center’s very long existence there.
Lengthy a most loved haunt of spot gardeners, Donzell’s closed in June 2019 just after the family members reportedly stated the enterprise in no way recovered from the economic downturn of 2007 and 2008.
Penske did not right away remark on the project’s specific time line when attained.