Accounting firm buys building, plans to expand
LIBERTY — A company affiliated with Liberty-based HD Davis CPAs and White Glove Payroll has purchased Churchill Park Plaza and Professional Building for $1.26 million with plans to expand.
The transaction between JIGS Investments Inc. and TPJK Holdings LLC finalized earlier this month, according to the Trumbull County Auditor’s Office. JIGS Investments had owned the building since 1990.
Co-owners of the accounting and payroll company, Tim Petrey and Joe Kilgore, plan to renovate the professional building at 4300-4308 Belmont Ave. They will continue to share it with tenant Southwoods Health.
“We outgrew our current building about four years ago and have been looking hard to find a new spot as we continue to grow,” Kilgore said. “We are proud of Liberty Township. We started here and have grown here.”
The new building nearby the firms’ location now on Churchill Hubbard Road will focus on space for collaboration and team meetings. HD Davis and White Glove Payroll employs 45.
“About 30 percent of our workforce is now entirely remote but still need space to learn, train and collaborate. We’ve designed our renovation specifically with that in mind,” Kilgore said.
Renovations to the building are expected to start this year and include improvements to the building and signs to better represent the firms as business advisors, according to Petrey.
HD Davis has been in business since 2006. The company has grown rapidly in recent years thanks to expansions in its fractional chief financial officer services, payroll and human resources services and audit and attestation work. The firm spent its early years offering mostly tax and bookkeeping services and grew into the other areas.
In Warren, meanwhile, Exchangeright Net Leased Portifolio 5 purchased the Family Dollar and land at 2430 Youngstown Road for $1.7 million from FD Warren Ohio Youngstown Road, according to the auditor’s office.
The dollar store was built there after a Bi-Rite grocery store was torn down. FD Warren Ohio Youngstown Road bought the land in 2015 for $260,000 from MBBJ Inc., doing business as J&B Bi-Rite, according to the auditor’s office.