Last year 3-D Property Development, the owner of the building the old Bennigan’s sat in on Dressler Road NW, got a phone call from a property development company in Akron, LRC. At the time, Bernie DeWees, a partner at 3-D, was listening to all offers, even though the property wasn’t for sale. Late last year, the sale was complete. LRC bought the piece of property for $752,000 from DeWees, who made a nice profit off the land. He bought it for $515,000 in 2012.
So what’s going in there?
According to papers filed with the Stark County Recorder’s office, a Verizon Wireless store will go there. That means the old Verizon, located just down the road on Dressler, will be moving into the new space some time this year. There is extensive construction going on at the site. Word is Verizon signed a seven-year lease, in part, to keep another competitor out of setting up a storefront location in the heart of Belden Village and just down the street from Verizon’s current location.
It is good to see a retail store going in that spot. That area of Belden Village is already overflowing with restaurants. Texas Roadhouse, which always seems packed, just opened across the street from the old Bennigan’s. Judging by some of the work being done on the new Verizon store, it could be two floors given the height of the structure.
It isn’t cheap to turn a chain restaurant into a wireless phone storefront. According to papers from the Recorder’s Office, there is a $1.8 million loan tied to the property. There is no word when the tight-lipped move will take place. When DeWees went to sign the papers for the sale, LRC wouldn’t even tell him what was going into to the new building.