Industrial Commercial Properties buys again at Elyria’s Midway Mall

By Stan Bullard – Crain’s Cleveland Business

Industrial Commercial Properties (ICP) of Solon is the new owner of the empty Dillard’s building at Midway Mall, its second acquisition at the Elyria property following the purchase of the Sears building in the spring.

Elyria Mayor Holly Brinda announced the Dillard’s deal with an emailed press release Thursday, Aug. 1.

“We commissioned a redevelopment plan for Midway Mall in 2016, and we are gratified to see an experienced and successful Northeast Ohio developer willing to engage with us,” she said in the release. “The Midway Mall area has been an important economic driver for the city and all of Lorain County since its construction in 1966. The city wants to see the mall area continue to evolve.”

Chris Semarjian, ICP’s owner, said in a phone interview on Thursday, Aug. 1, that his company intends to lease the building for light industrial or office use or demolish the building and construct a new structure on the site of the building and its associated parking lot. Click to read entire article