West Virginia

Heidenberg, Strategic Real Estate Open 22,000 SF Marshalls Within Potomac Marketplace in West Virginia

by Alex Tostado December 5, 2019

RANSON, W.VA. — Heidenberg Properties Group and Strategic Real Estate Partners have opened the 22,000-square-foot Marshalls at The Potomac Marketplace in Ranson. In March, the two companies announced they reached a leasing agreement with The TJX Cos., the parent company of Marshalls, and would need to immediately expand the center between Kohl’s and Petco. The center now spans 379,000 square feet following the expansion. Marshalls joins other retail tenants such as AT&T, Weis Markets, Kohl’s, Petco and The Home Depot.

December 5, 2019

Acquisitions Retail Southeast West Virginia

Palomar Group Trades 135,804 SF, Kroger-Anchored Shopping Center in Oak Hill, West Virginia

by Alex Tostado October 3, 2019

OAK HILL, W.VA. — The Palomar Group has sold Fayette Square, a 135,804-square-foot, Kroger-anchored shopping center in Oak Hill. The property was 92 percent leased at the time of sale to tenants including Kroger, Goodwill, Burger King, Big Lots, Sherwin Williams, Anytime Fitness and AutoZone. Kroger recently renewed its lease for another five-year term at the location, which is situated three miles north of downtown Oak Hill. The buyer and sales price were not disclosed.

October 3, 2019

Acquisitions Healthcare Southeast West Virginia

MedProperties Acquires Medical Office Portfolio Totaling 112,212 SF in West Virginia, Ohio

by Alex Tostado July 12, 2019

VIENNA, W.VA. AND BELPRE, OHIO — MedProperties Realty Advisors LLC has acquired a 92,212-square-foot medical office building (MOB) in Vienna and a two-building MOB/ambulatory surgery center spanning 20,000 square feet in neighboring Belpre. Both properties are leased to the West Virginia University (WVU) Health System and upon closing of the sale, WVU entered into a new 15-year lease at both properties. In Vienna, the two-story MOB was originally built in 1982, renovated in 2009 and expanded by 32,000 square feet in 2012. Tenants include a variety of medical services and specialties, including family medicine; orthopedics; ear, nose and throat specialists; dialysis; and imaging. The building is situated at 800 Grand Central Mall, three miles from the Ohio-West Virginia border and four miles from the Belpre assets. The Belpre properties were built in 1960 and renovated in 2007, 2010 and 2012. Capital One provided acquisition financing to MedProperties. The seller and sales prices were not disclosed.

July 12, 2019

Acquisitions Multifamily Southeast West Virginia

Marcus & Millichap Negotiates $9.6M Sale of Apartment Complex in West Virginia

by Alex Tostado June 27, 2019

MARTINSBURG, W.VA. — Marcus & Millichap has negotiated the $9.6 million sale of Shenandoah Village, a 143-unit apartment complex in Martinsburg. The property was built in 1973 and offers one- and two-bedroom floor plans. Dana Newton and Mike Maxwell of Marcus & Millichap represented the buyer and seller, both undisclosed limited liability companies, in the transaction.

June 27, 2019

Development Retail Southeast West Virginia

Busy Beaver to Open Fourth West Virginia Location in April

by Alex Tostado February 5, 2019

ELKINS, W.VA. — Busy Beaver, a home improvement store, will open a location in Elkins, West Virginia on April 10. The 33,000-square-foot store will be its fourth in the state. It will be situated at 731 Beverly Pike and will feature a lumber yard and farm and ranch departments. The new site will house 20 full-time and 10 to 15 part-time employees. This is Busy Beaver’s 22nd location, with three stores in Ohio and 15 in western Pennsylvania.

February 5, 2019

Hospitality Loans Southeast West Virginia

NorthMarq Arranges $8.2M Refinancing for Hotel in Huntington, West Virginia

by Alex Tostado December 7, 2018

HUNTINGTON, W.VA. — NorthMarq Capital has arranged $8.2 million in refinancing for Fairfield Inn & Suites in Huntington. The fixed-rate, non-recourse loan was structured with a 10-year term and a 20-year amortization schedule. The 106-room hotel features a picnic area, valet dry-cleaning and car rental services. Randy Waddell of NorthMarq arranged the loan on behalf of the borrower, H&W Management.

December 7, 2018

Acquisitions Retail Southeast West Virginia

Regency Properties Acquires Three Retail Centers in West Virginia

by Amy Works October 15, 2018

ELKINS AND SUMMERSVILLE, W.VA. — Regency Properties has purchased three shopping centers in West Virginia for an undisclosed price. The three properties will add a combined total of 319,194 square feet to Regency’s portfolio. The portfolio includes the 145,127-square-foot Merchants Walk, a center in Summersville leased to Dollar Tree, AT&T, Hibbett Sports, Peebles and Anytime Fitness. The other assets include Valley Pointe and The Plantation, both of which are located in Elkins. The 118,379-square-foot Valley Pointe center is leased to Peebles, Mattress Warehouse, GameStop, El Herradura and GNC. The 55,688-square-foot Plantation is leased to Goodwill, Dollar Tree, Anytime Fitness and Cricket Wireless. Based in Evansville, Ind., Regency Properties is a shopping center owner and investor with nearly 70 centers across 19 states. Regency now owns and manages four properties in West Virginia, the fourth being Country Roads Plaza in Hinton.

October 15, 2018

Acquisitions Multifamily Southeast West Virginia

Marcus & Millichap Negotiates $29.2M Sale of Two Multifamily Assets Near West Virginia University

by Camren Skelton August 3, 2018

MORGANTOWN, W.VA. — Marcus & Millichap has arranged the $29.2 million sale of two multifamily communities in Morgantown. The sale included Bon Vista and The Villas, a 350-unit complex located on Stewartstown Road, and the 59-unit Barrington North, located roughly two miles away on Wedgewood Drive. Both properties are near West Virginia University and the 1,000-acre WestRidge Business Park development. Community amenities across the properties include basketball and tennis courts, covered parking, swimming pools and private balconies. The transaction was handled in partnership with Jane Scott of Old Spruce Realty. Scott is Marcus & Millichap’s broker of record in West Virginia. The names of the buyer and seller were not disclosed.

August 3, 2018

Development Southeast West Virginia

Textile Manufacturer Breaks Ground on $150M Plant in Ranson, West Virginia

by John Nelson June 27, 2018

RANSON, W.VA. — ROCKWOOL has broken ground on its second stone wool insulation manufacturing facility in the United States. Situated in Ranson, the new project will span 466,000 square feet and house roughly 150 employees. ROCKWOOL worked closely with the state of West Virginia, Jefferson County, the Jefferson County Economic Development Authority and the City of Ranson to design and develop the industrial project. Construction has begun on the 130-acre site in Ranson, with site preparation already underway. Full production at the completed new facility is expected to commence in first-quarter 2020. ROCKWOOL is North America’s largest stone wool producer. The company currently operates five manufacturing facilities and staffs 1,000 employees.

June 27, 2018

Hospitality Loans Southeast West Virginia

KeyBank Secures $14.5M CMBS Loan for Hotel in Charleston, West Virginia

by Camren Skelton August 23, 2017

CHARLESTON, W.VA. — KeyBank Real Estate Capital has arranged a $14.5 million CMBS loan for Four Points by Sheraton, a 176-room hotel in Charleston. William Cassidy of KeyBank structured the 10-year, nonrecourse loan featuring a 30-year amortization schedule. The borrower used the loan to refinance existing debt. Constructed in 1966 and renovated in 2014, the 12-story Four Points by Sheraton comprises 158,576 square feet and includes 10,000 square feet of office space, eight residential condos and a 286-space parking garage. Hotel amenities include a business center, fitness center and an indoor heated swimming pool.

August 23, 2017

Newer Posts

Older Posts