Lofino’s Inc. is selling the Beaver Valley Wine & Spirits store to a new ownership group that has plans for a significant expansion.
The shop is located at 3325 Seajay Drive in the Beaver Valley Shopping Center. The retail center had been anchored by a Lofino’s Marketplace grocery store, in which the state agency liquor store was originally housed. The liquor store and wine shop moved out of the grocery store when the store itself closed in 2015, relocating to a 3,000-square-foot tenant space on the other side of the retail center.
The new owners are Mike Monaghan, Suzette de Guzman and Melvin Montiero. Montiero will serve as manager of the store after the sales transaction is complete and liquor licenses have been transferred to the new partnership, according to Monaghan, an insurance and investment adviser who operates Monaghan Associates in Clayton.
“We think it’s going to be a very successful addition to the area,” Monaghan said. “We look forward to serving the neighborhood and supplying new restaurants with beer and wine service.”
The shopping center, which has struggled in recent years especially after nearby cinemas and the grocery store closed, has seen an uptick in activity and interest in and around the center, with the addition of an SVG Motors car dealership coming into the former Eastgate Ford space, a new car wash, and a transition from Beef O’Brady’s to Wings Sports Bar & Grille, Monaghan said.
Over the next three to four years, the new owners will be looking for a new location, preferably within the shopping center, that would double its footprint to as much as 6,000 square feet, Monaghan said.
The investment and insurance adviser said the new owners were looking for opportunities in Montgomery County when the Beavercreek opportunity arose.
“We just felt that that market area needed a boost and would be successful with a more concentrated effort, and we wanted to be a part of that,” Monaghan said.
The locally owned and independent Lofino’s Marketplace had operated in the shopping center since the center was built in the early 1970s until its closure in 2015.