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A&G to Auction Eight Party City Leases

by Hayden Spiess

New York City — A&G Real Estate Partners will auction eight Party City leases in its capacity as real estate advisor to the retailer. These leases — which include locations in Georgia, Iowa, Illinois, Louisiana, Michigan, New York, Texas and West Virginia — come in addition to 12 Party City leases announced for auction by A&G in late February. Ranging in size from 7,500 to 28,000 square feet, 18 total leases remain open. This move is part of Party City Holdco Inc. (PCHI)’s financial restructuring, which is expected to be …

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DevelopmentNewsWest Virginia

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

by Julia Sanders

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 Planning Commission approved the rezoning of Potomac Marketplace to allow for the creation of a dynamic, mixed-use and walkable neighborhood. The center opened in 2006 and is prominently located along Route 9. Current tenants at the property include Marshalls, The Home Depot, Kohl’s, regional grocer Weis Markets, Petco and a variety …

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Starbucks_Summersville
Investment salesNewsWest Virginia

Cooper Commercial Investment Group Facilitates $1.3 Million Sale of Starbucks in Summersville, West Virginia

by Katie Sloan

Summersville, W.V. —  Cooper Commercial Investment Group has facilitated the $1.3 million sale of a single-tenant building leased to Starbucks Coffee at 301 Merchants Walk in Summersville. Starbucks signed a 10-year lease with an option to terminate after five years if the sales threshold is not met. Bob Havasi and Dan Cooper of Cooper Commercial Investment Group represented the seller, a private investment group out of Indiana. The private Virginia-based buyer purchased the property for $1.3 million.  

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LeasingNewsRetailersWest Virginia

Hibbett Sports Opens 5,600-Square-Foot Store at Mall in Morgantown, West Virginia

by Alex Tostado

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 located at 9235 Mall Road, three miles southwest of downtown Morgantown and three miles south of West Virginia University.

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EntertainmentNewsWest Virginia

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

by Alex Tostado

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 purchase tickets in advance to limit cash transactions. For casinos, occupancy must be limited to 50 …

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FinanceInvestment salesNewsRetailersWest Virginia

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

by Alex Tostado

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 Rue 21, Burkes Outlet, Shoe Show Mega Store, Dollar Tree, Southern West …

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DevelopmentNewsRetailersWest Virginia

Heidenberg, Strategic Real Estate Open 22,000-Square-Foot Marshalls Within Potomac Marketplace in West Virginia

by Alex Tostado

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.

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Grocery-anchoredInvestment salesNewsRetailersWest Virginia

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

by Alex Tostado

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.

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IndianaInvestment salesMichiganNewsOhioRetailersWest Virginia

Albanese Cormier Acquires Nine Shopping Centers Totaling 758,983-Square-Foot

by Alex Tostado

Beaumont, Texas — Beaumont, Texas-based Albanese Cormier Holdings has acquired nine shopping centers totaling 758,983 square feet in Indiana, Michigan, Ohio and West Virginia. The purchase prices were undisclosed. ShopOne was the seller. Representatives from May Real Estate, Cooper Commercial Investment Group, Marcus & Millichap and HFF brokered the sales. The average occupancy of the properties is 92 percent. The properties include: Pine Lake Shopping Center (147,017 square feet) in LaPorte, Indiana; Forest Park Plaza (104,231 square feet) in Brazil, Indiana; Phoenix Square (47,415 square feet) in South Haven, Michigan; …

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