COLUMBUS, Ohio (WCMH) — An iconic Downtown Columbus nut store dating back to the ’30s is “passing the peanut,” as new owners take over and move to a different storefront.

The Peanut Shoppe is a store known all over Columbus — even by those who have never been inside. That’s because of its neon Mr. Peanut sign, which has brightened the corner of State and High streets in the city’s Downtown since 1936, during President Franklin D. Roosevelt’s first term in the Oval Office. Of course, it’s also known by its patrons for its namesake peanuts, sweet treats, and various other nuts and snacks.

Current owners Mike and Pat Stone are selling the shop to Matt and Kate Powell. New owner Matt said he’d been in The Peanut Shoppe frequently over the years, even being taken there by his grandparents as a child. For him and his wife, the purchase was a no-brainer.

“We said, ‘This is something we can tackle,'” Matt said. “‘We think this would be fun, this would be an exciting adventure for us.'”

With new ownership also comes a new location, as the Stone’s lease at the current location was up. Now, the shop will move into the 4 E. Broad St. storefront at Broad & High, a new development from The Tomko Company. Two other shops — Black Kahawa Coffee and a partnership between Three Bites and Little Cat — have been announced to be moving into the same building.

Michael Tomko, owner of The Tomko Company, explained why Matt and Kate are a good fit to move into his building and take over the beloved shop.

“Matt and Kate are the perfect new owners for the Peanut Shoppe because they appreciate the history of the store and also have exciting new ideas for how to grow the business,” Tomko said.

Those new ideas, according to Matt, will include an expansion of flavor options. He also said they’d be expanding holiday offerings, telling readers to look out for those.

“We don’t necessarily want to get rid of anything,” Matt said. “But we think that there could be some additions that can supplement what other companies do. We’d like to keep up with some of those. People may like just plain cashews, but at the same time, people may like a different flavor.”

With big plans for the future, Matt said him and Kate are eager to get to work.

“We’re very excited to take over,” Matt said. “We’re really excited to start to engage in the Downtown community. We feel that it’s a space that’s just getting better every year at this point.”

The Peanut Shoppe’s last day of business in its current storefront will be July 29, before moving out in August. It’s expected to open its new location in the middle of September.

“Now we’re passing the peanut, as we like to say,” Matt said.