About This Property
For sale is the fee-simple interest in Morgantown Commons, a 100% leased, nationally anchored and shadow anchored strip center, in one of the best college towns in North America, Morgantown, West Virginia. The property is primed for a new long-term investor to acquire and enjoy many years of double-digit leveraged returns. 94% of the property’s tenants have remaining lease terms of 7-12 years, which includes a newly built out Goodwill retail store and distribution center with a new 12 year term. The second anchor is Gabe’s, who just signed a 7 year lease extension for this flagship Morgantown location. The shopping center is shadow anchored by a 94,000 square foot Rural King that caters to clientele within a 20 mile radius and brings thousands of shoppers to the property on a weekly basis. In addition to the longterm leases and anchors, the current owner installed a new roof on the entire property in 2020, further stabilizing the property for years to come. Upside also exists in leasing the prominent outparcel situated at the entrance to the property. The shopping center is located on Mall Road just west of downtown Morgantown and the entrance to West Virginia University. This is a thriving university and cultural area that is home to over 28,000 students and 8,200 faculty, and the restaurants, housing, retail, and other amenities that support them.