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4000 Murdoch AveParkersburg, WV 26105
Grand Central Plaza
Asset ClassRetail
Weighted Average Lease Term8.2 Years
Square Feet: 75,344Occupancy: 100%Land: 5.99 AcresAccess Data Room
Premier Position Along Parkersburg's Dominant Retail Corridor
overview of deal

Overview

Cushman & Wakefield Retail Investment Advisors proudly present Grand Central Plaza (the “Property”), a recently redeveloped, 75,344-square-foot, four-tenant shopping center on a long-term ground lease in Parkersburg, West Virginia. The Property is 100% occupied by a highly complementary lineup of national retailers, including a brand-new Best Buy, Sportsman’s Warehouse, Dollar Tree, and O’Reilly Auto Parts.

 

Positioned on 5.99 acres along Murdoch Avenue (35,944 VPD), Grand Central Plaza sits in the region’s dominant retail corridor, directly across from Grand Central Mall—the only enclosed regional mall within a 35-mile radius in the Mid-Ohio Valley. The mall serves as a true destination retail node, anchored by Belk, Dunham’s, JCPenney, and a wide mix of national inline tenants. This concentration of retail, paired with immediate adjacency to Home Depot and Chick-fil-A, generates exceptional drawing power and consistent daily traffic. The submarket attracts 4.9 million annual visitors, including 1.6 million traveling 10+ miles, highlighting the Property’s regional pull and the limited surrounding competition.

 

The Property delivers long-term cash flow stability with a WALT exceeding 8 years and three of the four tenants carrying lease terms beyond 2033. O’Reilly Auto Parts, the lone tenant with an earlier expiration, has operated at the center for over ten years and continues to pay below-market rent, presenting a clear mark-to-market opportunity. The recent redevelopment, strong tenant credit, and efficient leases further enhance income durability.

 

Topographical constraints and a shortage of developable land in Parkersburg limit future retail supply, reinforcing the value of best-in-class assets in this corridor. Combined with its irreplaceable location, powerful shadow anchors, and embedded upside, Grand Central Plaza offers investors an exceptional opportunity to own a stabilized, high-performing retail asset with meaningful long-term growth potential.

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Investment Highlights

Year Built
1986
Year Renovated
2025
Cap Rate
8.75%
Parking Spaces
263 Spaces
  • National Tenants, Newer Roofs, and No Major Cap-Ex
  • WALT of 8+ years with staggered expirations and long runway of term
  • Low basis and well below replacement cost
  • Free-standing O’Reilly Auto Parts with below market rent and ideal market position
  • Topographical challenges limit new development in the market creating upward pressure on rents at existing product
  • Leasehold interest with 69 years of control (see Ground Lease Summary on pg 12 of OM)
  • Fully depreciable asset providing the potential for higher net return
  • Highly Passive Investment, with four national tenants, long-term leases, offering investors a low-touch, low-management experience
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4000 Murdoch AveParkersburg, WV 26105
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Listing provided by Revere CRE