Marcus & Millichap closed the sale of Boardman Center Plaza, a 136,500-square-foot mall-shadowed regional shopping center in Youngstown, Ohio. The asset sold within 5% of its list price.
Scott Wiles, Erin Patton and Craig Fuller, senior managing directors in Marcus & Millichap’s Columbus and Cleveland offices, exclusively marketed the listing for the seller, a Canadian private investor, and procured the buyer, a Texas-based private investor. The buyer was awarded the deal after a competitive bidding process with multiple offers.
Boardman Center Plaza is located at 7334 Market St. in Youngstown. The asset was 52% occupied at the time of sale with strong value-add and redevelopment potential of its sole vacancy, 65,878-square-foot retail box.
Boardman Center Plaza tenants include Guitar Center, Legends Food + Drink, FastSigns, Factory Boot Outlet, Harbor Pet Center, and more. Included in the sale was a two-tenant outparcel building leased to Five Guys and Jimmy John’s. The property is located directly across the street from Southern Park Mall with Macy’s, JCPenney, Planet Fitness, H&M, Hibbett Sports, dozens of shop retailers and restaurants, and the newly developed DeBartolo Commons, a $30 million outdoor community space.
