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