The online auction for the 275,000-square-foot retail strip will begin Nov. 13, with a starting bid of $800,000. The auction will close Nov. 15.
Constructed in the late 1980s, Consumer Square once housed retail tenants like Cub Foods, UPS, Radio Shack, AJ Wright, Rent-A-Center and McSports.
Today, the center includes Honey Baked Ham, Sherwin Williams, Check Smart, New China, and Pro Nails & Spa.
In 2015, city leaders were told by Moonbeam that the company had plans to renovate the center and upgrade the facade. Senior vice-president of Moonbeam L. Pryor said at the time the project would include cosmetic upgrades with painting and new lighting.
It’s not clear whether any of these planned updates were completed. A representative for Moonbeam did not respond to a request for comment Tuesday.
“(Renovation) did not occur in a significant way,” said Trotwood Community Improvement Corporation Director Chad Downing. “The last large tenant in the primary set of buildings, Office Depot, closed its doors in 2020. Shortly thereafter, as a result of the poor conditions, Chase Bank left their location. Since then, the tenants have continued to dwindle.”
Downing said the city hopes the Consumer Square site, which is located about a mile northwest of the former Salem Mall shopping center, will be properly redeveloped under new ownership.
“We would like to see this site redeveloped into a mixed use site to offer opportunities for new housing, as well as more modern commercial and retail offerings to meet the current economic trends,” Downing said Tuesday afternoon. “This would likely mean a large portion of the site may be torn down, which would provide a fresh canvas for redevelopment.”
Downing said the Trotwood CIC is working with potential developers to evaluate the options for redevelopment. Relatedly, the city is collaborating with Harrison Twp., Montgomery County, and the Miami Valley Regional Planning Commission to conduct a market analysis to guide ongoing redevelopment efforts.
The study, which is being paid for with federal Economic Development Administration disaster funding that came as a result of the 2019 tornadoes, will be overseen and administered by the Miami Valley Regional Planning Commission.
On Jan. 5, 2021, Salem Consumer Square OH LLC/Moonbeam filed for Chapter 11 bankruptcy relief in U.S. Bankruptcy Court for the Western District of Pennsylvania against Belfor USA Group Inc.
According to court filings, the Consumer Square property sustained “severe damage” as a result of the 2019 Memorial Day tornadoes. In response, emergency disaster restoration services were rendered by Belfor.
Records show Belfor subsequently submitted an affidavit for mechanic’s lien against the property in September 2019. On Feb. 26, 2020, the company filed a complaint against Moonbeam seeking damages and assertion of a mechanic’s lien in an amount not less than $2.8 million.
Salem Consumer Square OH LLC alleges in the filings that Belfor’s claim of damages against the company is inflated, alleging Belfor performed unnecessary and/or unauthorized work, and further claiming Belfor “intentionally or negligently” caused destruction of certain portions of the property.
In March of this year, a judge approved a settlement agreement between the two parties, which included the stipulation that Moonbeam pay Belfor a sum of $3.9 million in exchange for dismissal of any additional claims and pending proceedings between them, including release of the mechanic’s lien, among other terms.
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