A fixture in downtown Akron for more than 40 years is up for sale as FirstEnergy Corp. works to move its operations to the west side of town.
FirstEnergy is selling its 19-story office tower at 76 S. Main Street, seeking $15 million for the property it purchased in December for around $49 million.
More: FirstEnergy to move out of downtown Akron, consolidate corporate offices in West Akron
In 2019, the company signed a 10-year lease extension with building owner McKinley Inc., which would have kept the headquarters downtown until 2035. Summit County property records show that FirstEnergy paid $49 million for the 359,000-square-foot, Class A office building in December.
Young said that price included buying out the remainder of the utility’s 10-year lease extension. The building’s appraised value is $18.4 million, according to Summit County property records.
Though FirstEnergy is seeking far less than what it purchased the property for, Young said the sale will benefit the company.