REBusinessOnline

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

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 …

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

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

Busy Beaver to Open Fourth West Virginia Location in April

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. …

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

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

Regency Properties Acquires Three Retail Centers in West Virginia

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 …

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

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 …

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

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 …

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

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 …

Nelson Brothers Purchases Student Housing Property Near West Virginia University for $39M

MORGANTOWN, W.VA. — Nelson Brothers Professional Real Estate LLC, a California-based company, has acquired Mountain Valley Apartments, a student housing complex located roughly three miles from West Virginia University in Morgantown, for $39 million. Constructed in 1998, the 344-unit property includes a mix of one-, two- and three-bedroom floor plans and features a 24-hour fitness center, swimming pool, full-size gym, volleyball court, dog park, cyber café, game room and an outdoor picnic …

Heidenberg, Strategic Real Estate Acquire Shopping Center in West Virginia for $35.9M

RANSON, WEST VIRGINIA — A joint venture between Heidenberg Properties Group and Strategic Real Estate Partners has purchased The Potomac Marketplace, a 370,000-square-foot shopping center located along Route 9 in Ranson. The property was 92 percent leased at the time of sale to tenants including Weis Supermarket, Kohl’s, Petco and The Home Depot. The Potomac Marketplace is also home to restaurants including Panera Bread, Dunkin’ Donuts, Glory Days Grill, California Tortilla, Roy Rogers …

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