Hillman's $95M Bet: From Ghost Mall to a Modern Logistics Powerhouse

FOREST PARK, OH – June 17, 2026 – On a sprawling site once haunted by the ghost of retail past, a new economic engine is taking shape. Today, leaders from Hillman Solutions Corp. (Nasdaq: HLMN) and developer Hillwood Investment Properties plunged golden shovels into the earth, officially breaking ground on a massive 715,000-square-foot multipurpose facility. The location is as significant as the structure itself: the long-vacant, finally-demolished Forest Fair Mall, a property that for years symbolized suburban decline.

This $95 million investment represents a pivotal moment on two fronts. For Hillman, a 60-year-old Cincinnati-based hardware giant, it is a calculated move to consolidate disparate regional operations into a single, state-of-the-art nerve center. For the City of Forest Park and its partners, it marks the culmination of a tenacious effort to transform a significant community blight into a productive commercial asset. This groundbreaking isn’t just about a new building; it’s about translating a strategic vision into the steel and concrete required for future profit and regional prosperity.

From Blight to Blueprint: The Mall's Second Act

The story of the Forest Fair Mall, latterly known as Cincinnati Mills, is a familiar one across America. Once a bustling retail hub, it fell into a slow, painful decline, eventually becoming a vast, empty symbol of economic stagnation. Its sheer size made it a difficult problem for local officials, a constant reminder of what was lost. Previous attempts to revive the property had faltered, leaving the community with a persistent economic drain.

Today's ceremony, however, was a celebration of its definitive second act. The nearly-completed demolition, funded in part by nearly $8 million in state grants secured via the Butler County Land Bank, has cleared the way for a modern Class A industrial facility. This transformation from a retail graveyard to a logistics powerhouse is being orchestrated by Hillwood, a developer with a national reputation for tackling complex, large-scale industrial projects.

The project’s significance was a recurring theme among the local and state leaders present. “When a company chooses to maintain and strengthen its presence in a community, it speaks volumes about the people, partnerships, and business environment that community provides,” said Don Jones, City Manager for the City of Forest Park. “This groundbreaking is an exciting moment for our city.”

That sentiment was echoed by state-level economic development officials. “Today’s groundbreaking launches the next chapter in Hillman’s long story of success in Hamilton County,” said JobsOhio President and CEO J.P. Nauseef. “The Forest Park location will fill a once-vacant site, improve efficiencies for Hillman to move its products throughout the North American market, and provide flexibility for future growth.”

A Strategic Consolidation for a Competitive Edge

Beyond the powerful narrative of urban renewal, this project is a textbook example of a company making a critical infrastructure investment to secure its commercial future. Hillman, a leading provider of over 111,000 different hardware products, relies on a sophisticated supply chain to serve its vast network of retail, pro distribution, and industrial customers across North America. The decision to consolidate several Cincinnati-area operations into one purpose-built facility is a direct play to sharpen its competitive edge.

“This groundbreaking represents an exciting next chapter for Hillman and reinforces our long-term commitment to our employees, customers, and the communities we’ve called home for decades,” stated Jon Michael Adinolfi, President and CEO of Hillman. He emphasized that the new facility will “improve collaboration, operational efficiency, and customer service capabilities” and “help position our business for future growth.”

For a company that differentiates itself with a 1,200-person field sales team and direct-to-store distribution, efficiency is paramount. The new hub will primarily contain distribution center space, complemented by office and operational support functions. This centralization is designed to untangle logistical knots, streamline inventory management, and accelerate response times. The inclusion of an expansion pad capable of adding another 162,000 square feet demonstrates foresight, giving Hillman the physical flexibility to scale its operations as it continues to grow, partly through recent acquisitions like Delaney Hardware and Campbell Chain & Fittings.

The Power of Partnership and Deep-Rooted Commitment

This $95 million project did not materialize in a vacuum. It stands as a testament to a robust public-private partnership involving a coalition of dedicated stakeholders. The collaboration between Hillman, Hillwood, the City of Forest Park, the Butler County Land Bank, the Ohio Department of Development, JobsOhio, and REDI Cincinnati was instrumental in navigating the complexities of redeveloping the site.

This deep-rooted commitment is a two-way street. Hillman is not a newcomer to the region; it has been a Cincinnati-area staple for over 60 years. The company’s decision to double down on Forest Park, where it had already announced a new Customer Support Center in 2022, reinforces its legacy in the community. This loyalty is being met with tangible support and recognition.

“A groundbreaking is an exciting milestone in economic development because it signals that plans are becoming reality,” said Kevin Donnelly, vice president of project management at REDI Cincinnati. The regional development organization recently honored Hillman with the 2026 James A. Wuenker Growth Award for the project's measurable economic impact.

As construction commences, with a target completion of mid-2027, the project moves from blueprint to reality. It serves as a powerful case study in how strategic corporate investment, aligned with determined public-sector support, can turn a commercial liability into a launchpad for future growth, benefiting both the company's bottom line and the community it calls home.