Nature's Bin Property Sold

[Bridget Conant]

As the mother of a special needs adult who is STILL looking for a job I hope this new place still uses the training program. We have been using the training program thru Cornucopia and because Nature's Bin closed my son has pretty much been displaced with no work. The Lake Rd market was an option but they will only take on one special needs person and that is filled. My son needs something or I am going to go insane. I love him dearly but please go away. LOL. So I am going into this hopeful not just for my son for many other kids who need this program.

Thank you, Missy, for letting us know the real and personal effect the Bin leaving has on ordinary Lakewoodites.

In their glee to have the shiny and new, there are many casualties.

[Marguerite Harkness]

To Mike Bentley, re: tax benefits for Constantino's.

The TAX BENEFITS are to the NONprofit, Nature's Bin. Their tax benefits are that they pay NO income taxes and NO real estate taxes.

Tax benefits to Constantino's?? Their prices should be HIGHER because they have to pay INCOME TAXES and REAL ESTATE TAXES on their net profit.

[Pam Wetula]

It would be great if Constantino's continues the education of special needs adults. Does that also mean that they will be operating as a non-profit and not paying property taxes at this location?

It seems that if a non-profit cannot stay in business because of increased area competition, that any similar private enterprise will find it difficult to maintain profitability at that location. Unless they too go to a non-profit status and are lucky.

Don't worry Lakewood. Our leaders will redevelop this area with much needed retail and restaurant if the new grocer isn't successful. Maybe we can put the Summers Recreation Center there? Or chop the whole place down and put up $700,000 condos.

Sorry to see Nature's Bin go. Do wish the new place well.

[Lori Allen _]

I apologize if this link has already been posted, but see this:

http://www.cleveland.com/business/index ... ewood.html

Notice the article's note saying that the purchase was for an undisclosed amount. Why?

As of today, 8/28/17 at 1:20 p.m., the Nature's Bin Property has not switched hands to Constantino's, although the purchase agreement was supposedly signed in May. It is now almost September.

I telephoned Constantino's recently to inquire as to when the new store would open in Lakewood. They seemed very closed-lipped, and said that they "did not know" when the store was going to open.

What gives? Any information would be appreciated.

[Lori Allen _]

The Nature's Bin Property has finally switched hands, five months after the original agreement was signed.

According to public records, the property was sold for $380,000, when fair market value is said to be $586,000. In other words, the property sold for much less than its worth. The property was signed over by Nancy Peppler, Nature's Bin Executive Director.

Constantinos Sale.jpg (66.66 KiB) Viewed 3707 times

Constantinos Value.jpg (57.87 KiB) Viewed 3707 times

Constantino's appears to have an opened-ended mortgage on the property. The mortgage cannot exceed $950,000, however. Perhaps there is going to be re-modeling?

The owner of Constantino's (the same person that signed the mortgage papers) is a neighbor of Jay Foran, for what it's worth.

[Scott Hargrove]

You people are toxic. I’m disgusted reading this thread.

The people that own Constantios are my neighbors and my friends too. I guess I’m also Jay’s neighbor and that somehow impliles that I’m evil and in the lot of City Hall? I would encourage everyone on this thread to re-read what you have said.

I don’t understand how seemingly intelligent people can behave so stupidly.

Of course some businesses don’t work out at certain locations but others do. To imply anything differently displays an astounding ignorance of management skill and vision. Not all business are created equally. Shocking that a nonprofit and a for profit business would have completely different financials.

We can lament the fact that the Bin is no longer in business but be very happy that our neighbors, who grew up here, believe in Lakewood and are making an investment. Of course, that would probably be too easy and not as gratifying as feigning outrage at a pretty normal business transaction.

[T Peppard]

You people are toxic. I’m disgusted reading this thread.

The people that own Constantios are my neighbors and my friends too. I guess I’m also Jay’s neighbor and that somehow impliles that I’m evil and in the lot of City Hall? I would encourage everyone on this thread to re-read what you have said.

I don’t understand how seemingly intelligent people can behave so stupidly.

Of course some businesses don’t work out at certain locations but others do. To imply anything differently displays an astounding ignorance of management skill and vision. Not all business are created equally. Shocking that a nonprofit and a for profit business would have completely different financials.

We can lament the fact that the Bin is no longer in business but be very happy that our neighbors, who grew up here, believe in Lakewood and are making an investment. Of course, that would probably be too easy and not as gratifying as feigning outrage at a pretty normal business transaction.

Toxic? The only thing toxic is the lack of compassion for the special needs individuals who no longer receive training and regular work hours from the Bin. Did you know there is a group home within walking distance from Nature’s Bin?

If Constantino’s fails, they can easily sell the property for far more than they purchased it. - imagine, more $315k condos for Lakewood! Win, win for your neighbor.... huge loss for the folks with disabilities.

[Kate McCarthy]

Nature's Bin still has a training program http://www.cornucopia-inc.org/vocationa ... /index.php that is being run out of the old McDonald's property. I know people who work for and with that program and it seems to be thriving.

As for the sales price, the shopping center next door is valued by the county at $621,500 and that's a much larger parcel and better situated than the old Nature's Bin property. Perhaps the Bin property was overvalued by the county and since the Bin didn't pay property taxes, they didn't complain.

I don't recall what was on the Bin property before the Bin, but that is a very oddly shaped parcel with two less than desirable neighbors (an electric substation and gas station). Of course, the presence of a one time thriving business has added value but it is still be a tough location and I wish the new owners well. Only time will tell, and once Lucky's opens on Clifton, there will be lots of competition.

I just hope they have lots of fresh, local produce like the Bin.

[Jim O'Bryan]

I don't recall what was on the Bin property before the Bin, but that is a very oddly shaped parcel with two less than desirable neighbors (an electric substation and gas station). Of course, the presence of a one time thriving business has added value but it is still be a tough location and I wish the new owners well. Only time will tell, and once Lucky's opens on Clifton, there will be lots of competition.

Kate

It was a Chemical Company dealing with sodium chloride I believe, which left it a brown field.

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[Lori Allen _]

[Paul Schrimpf]

[quote]Kate

It was a Chemical Company dealing with sodium chloride I believe, which left it a brown field.[/quote]

Table salt? Almost as deadly as Dihydrogen Oxide.

Seriously ... we have a brownfield here?

[Jim O'Bryan]

Kate

It was a Chemical Company dealing with sodium chloride I believe, which left it a brown field.

Table salt? Almost as deadly as Dihydrogen Oxide.

Seriously ... we have a brownfield here?

Paul

Dihydrogen Oxide, love it, you know it is is everything from rain to rivers, Lake Erie is filled with it. How do we stop it?

Condor Products was the name I remember, and it was the kind of stuff that burned and explodes. So obviously not Sodium Chloride.

I can find no mention of it online anymore.

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[Bridget Conant]

Cool pic of that corner:

http://images.ulib.csuohio.edu/cdm/sing ... 669/rec/13

[Jim O'Bryan]

Cool pic of that corner:

http://images.ulib.csuohio.edu/cdm/sing ... 669/rec/13

That was before Condor Products, which was a long low white building set back about 50' from the railing, going all the way back to the tracks.

nice pic though.

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