Law firm to expand offices to site of former Ohio Savings branch
By Katie Byard
Beacon Journal business writer
Published on Sunday, Mar 13, 2011
One of downtown Akron's more distinctive buildings — a round structure that housed an Ohio Savings Bank branch — will be torn down to make way for something new.
The new owners — a group of lawyers with Brennan, Manna & Diamond LLC, the law firm with offices next door — say demolition of the 1970 building at East Market Street and North Broadway probably will begin by late summer.
Construction could start this fall.
Lee Walko, one of the lawyers, said the firm needs more space and is committed to staying downtown.
''We've been down here for 10 years,'' Walko said, ''and want to stay downtown.
''We've been fortunate to grow to where there are no more offices'' in the firm's building at 75 E. Market St., the historic Carnegie Building just west of the old Ohio Savings.
About 100 people work in the Carnegie Building, Walko said, including those associated with Signet Enterprises LLC.
Tony Manna, the Manna in the law firm's name, is chairman of Signet, which is known locally for real-estate projects, including the SummaCare Health building at Main and Market streets downtown.
Walko said the lawyers bought the old Ohio Savings property for about $260,000. The branch closed in 2009. The property is appraised at $300,000 for tax purposes.
It includes the relatively small former bank branch (6,600-square feet) and parking space for about 20 vehicles.
Walko said plans for a new building have yet to be drawn. One idea is for the law firm to expand into the new building. Another possibility is to build a large structure to accommodate all of the law firm's offices. This would free the Carnegie Building, which could be marketed for other uses.
Robert Cooper, director of the Akron office of CB Richard Ellis, a commercial real-estate company, said there was a lot of interest in the property, but its round shape and limited square footage and parking turned off potential buyers.
Manna has long been looking for downtown development opportunities.
In 2007, he and the city proposed an office building on city land next to the Federal Building on South Main Street.
The city would have built a parking deck at the rear of the facility.
The plan was scrapped after federal authorities cited security concerns, saying the office complex would set a record for being the building constructed closest to a U.S. courthouse.
Katie Byard can be reached at 330-996-3781 or kbyard@thebeaconjournal.com.
