REBusinessOnline

Marcus & Millichap Capital Corp. Arranges $5.8M Loan for Self-Storage Portfolio in West Virginia

FALLING WATERS AND HEDGESVILLE, W.VA. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5.8 million loan for a four-property self-storage portfolio in West Virginia. The properties span 770 units and are located at 21 Crawford Quarry Road, 1820 Broad Lane and 9724 Williamsport Pike in Falling Waters, as well as 73 Roaring Lion Drive in Hedgesville. Jared Cassidy of MMCC’s Bethesda, Md., office arranged the 10-year loan on behalf of the borrower, a private self-storage operator, …

Time Equities Acquires 363,000 SF Industrial Building in Huntington, West Virginia

HUNTINGTON, W.VA. — Time Equities Inc. (TEI) has purchased a 363,000-square-foot industrial facility located at 550 27th St. in Huntington. Sierra Corp. sold the property to the New York City-based firm for $9 million.The property was fully leased at the time of sale to a combination of national, regional and local tenants. The facility is located adjacent to the CSX Transportation rail hub and the Port of Huntington, which is situated along the Ohio River.Sal Ramundo of Marcus & …

Red Rock, Cresset Break Ground on 829,948 SF Industrial Facility in Martinsburg, West Virginia

MARTINSBURG, W.VA. — Columbia, S.C.-based Red Rock Developments and Cresset Real Estate Partners have broken ground on an 829,948-square-foot, speculative industrial facility in Martinsburg. The firms want to secure a tenant before the site’s completed construction, which is slated for early 2023. Gerry Blindbury and Colin Potter of Cushman & Wakefield will handle leasing once the project is completed.The development will feature space ideal for a distribution and fulfillment …

Joint Venture Breaks Ground on 730,000 SF Tabler Station Logistics Park in Martinsburg, West Virginia

MARTINSBURG, WV. — Hines, along with an investor advised by MetLife Investment Management, MetLife, Inc.’s institutional asset management business, has broken ground on the first phase for Tabler Station Logistics Park, which will feature a total of over 730,000 square feet in Martinsburg.Located close to Interstate 81 on a 145-acre site, the first phase of Tabler Station Logistics Park will include two Class A, industrial buildings with each building consisting 365,400 square feet. …

Equus Capital Signs Clorox to 580,000 SF Build-to-Suit Warehouse Lease in Martinsburg, West Virginia

MARTINSBURG, W.VA. — Equus Capital Partners Ltd. has signed a 10-year, build-to-suit lease agreement with subsidiaries of The Clorox Co. for a 580,000-square-foot warehouse space within the Mid-Atlantic 81 Logistics Park in Martinsburg. The new warehouse is expected to come on line in spring 2022.Clorox is currently constructing a manufacturing facility for its Fresh Step cat litter brand approximately one-third of a mile from Mid-Atlantic 81 Logistics Park. Additionally, there are two …

Heidenberg, JV Partner to Add Mix of Uses to Potomac Marketplace in Ranson, West Virginia Following Zoning Change

RANSON, W.VA. — A joint venture between Heidenberg Properties Group and Strategic Real Estate Partners has announced plans to add a mix of uses to Potomac Marketplace in Ranson.In March of this year, the City of Ranson’s Planning Commission approved the rezoning of Potomac Marketplace to allow for the creation of a mixed-use and walkable neighborhood.Potomac Marketplace is located within an opportunity zone and can support up to 50,000 square feet of future development, including …

Hibbett Sports Opens 5,600 SF Store at Mall in Morgantown, West Virginia

MORGANTOWN, W.VA. — Hibbett Sports has opened a 5,600-square-foot store within Morgantown Mall. The Birmingham, Ala.-based sports retailer offers brands such as Nike, Under Armour, Jordan, The North Face and Adidas. The new location implements the company’s new store design, which features an open concept, phone charging stations and other amenities for customers to experience. The mall location also offers online, pick-up in-store and curbside pick-up shopping options. Morgantown Mall is …

Marcus & Millichap Arranges $10M Sale of Multifamily Property in Martinsburg, West Virginia

MARTINSBURG, W.VA. — Marcus & Millichap has arranged the $10 million sale of Elmtree Townhouse Apartments, a 97-unit multifamily community in Martinsburg. The property, which is two stories tall and was built in 2006, offers two- and three-bedroom floor plans. The asset is situated at 125 Winslow Drive, four miles north of downtown Martinsburg and five miles from the West Virginia-Maryland border. Marcus & Millichap’s Dana Newton and Mike Maxwell, along with the firm’s broker of …

West Virginia Enters Next Phase of State’s Reopening Plan, Including Movie Theaters and Casinos

CHARLESTON, W.VA. — West Virginia Gov. Jim Justice on Friday allowed movie theaters and casinos in the state to reopen. Theaters are required to operate with social distancing guidelines in place, including limiting the theater occupancy that will allow for proper distancing, adjusting common area layouts to allow for a six-foot distance between patrons who do not live together, encouraging all patrons and employees to wear personal protective equipment (PPE) and encouraging patrons to …

Uber Capital Arranges $11M Acquisition Loan for Shopping Center in Logan, West Virginia

LOGAN, W.VA. — Uber Capital Group has arranged an $11 million acquisition loan for Fountain Place Shopping Center, a 226,096-square-foot retail property in Logan. The five-year loan features a fixed 4.5 percent interest rate and a 20-year amortization schedule. Fountain Place was built in 1997 at 1103 George Kostas Drive, four miles west of downtown Logan. At the time of sale, the property was leased to tenants including anchors Lowe’s Home Improvement and Walmart Supercenter, as well as …

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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