Previous tax records for the property had it valued at $3.8 million.
In 2019, Washington Prime Group purchased the 220,000-square-foot space located at 2700 Miamisburg Centerville Road in Dayton from Elder Ohio, a trust registered in Delaware, for $3.6 million. The Miami Twp. location has been vacant since Elder-Beerman closed and went out of business in August 2018.
This most recent sale price is less than 22% of earlier values of the space, which was about $11.7 million in 1996.
Industrial Commercial Properties is the same company that purchased buildings owned by Reese Elsevier, the parent company of LexisNexis, which is located near the Dayton Mall on Ohio 741.
Bon-Ton, Elder-Beerman’s parent company, filed for Chapter 11 Bankruptcy in February 2018.
Elder-Beerman had a deep-rooted presence in the Miami Valley — and could be traced back to another store, Boston Dry Goods, in 1883. The Boston Dry Goods store was opened by Thomas Elder, William Hunter, Jr. and Russell Johnston on East Third Street in the early 1880s. It sold texiles, clothing and groceries, and it later became the Elder & Johnston Co.
In 1962, Dayton businessman Arthur Beerman, who had opened two Beermans for Bargains junior department stores in 1950, merged his store with the Elder & Johnston Co. During the 1960s the Elder-Beerman Co. opened numerous department stores in the region, including Hamilton and Richmond, Ind.
The company continued to expand, acquiring department stores in Michigan, Illinois and Kentucky. In 1993, the 50th store opened at the Mall at Fairfield Commons in Beavercreek. In 2003, Elder-Beerman was acquired by Bon-Ton Stores, Inc.
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