September 29, 2021 – Goodman Investment Group is pleased to announce the sale of Morgantown Commons in Morgantown, West Virginia. This is the third shopping center sale for a repeat client, Rural King. The 100% leased, nationally anchored shopping center was sold to a private west coast based investor for 98% of the list price. Morgantown Commons, with a vacant Kmart box that is still paying rent, was purchased by Rural King for a brand-new store to add to the thriving retail market.
Prior to marketing the property for disposition, Randy Goodman, Alex Justice and Bobby Benjamin were able to lease a 44,620 SF vacancy (32% of the GLA) to Goodwill on a new 12-year lease. Additionally, Randy and Alex were able to work on behalf of Rural King, in conjunction with local broker Petroplus & Associates, to extend the leases of the current tenants, adding long-term value to the shopping center.
To learn more about the sale, please contact Kyle Hartung, Director of Investment Sales at Goodman Real Estate Services Group LLC, at kyle(at)goodmanrealestate(dotted)com
Randy Goodman’s Professional Profile
Alex Justice’s Professional Profile
Kyle Hartung’s Professional Profile
