GRAND CENTRAL MALL, COMMONS, SHOPS AND OUTPARCELS

Vienna, WV

Newmark has been exclusively retained to market to qualified investors the opportunity to acquire Grand Central Mall, Commons, Shops and Outparcels (the "Property") located in Vienna, West Virginia. The Property is strategically located along Murdoch Avenue / WV-14 / Grand Central Avenue (40,000 VPD), the most heavily traveled state route in West Virginia. The Property is the only large-scale retail center within a 75+ mile radius and benefits from the “only game in town” narrative and draws shoppers from an expansive trade area that extends into Ohio. The pieces are available separately or together.

GRAND CENTRAL MALL

Grand Central Mall is an enclosed mall consisting of 729,704 square feet of gross leasable area (541,525 SF Owned) situated on 124.3 acres, 97.8 acres of which are included, in the heart of the Ohio Valley. The Property represents a unique opportunity to acquire a well-located, institutionally owned, shopping destination with a strong in-place cash flow and numerous avenues of value enhancement.

• The Property is anchored by Belk (83,205 SF), Dunham’s (65,464 SF) and JCPenney (130,682 SF), along with the former Sears which has been redeveloped into a power center occupied HomeGoods, PetSmart, Ross Dress for Less, and T.J.Maxx (85,994 SF, not included).
• The Mall’s inline and major space consists of a well curated and strong performing lineup of national and regional tenants highlighted by Aerie, Bath & Body Works, Boot Barn, Chick-Fil-A, MINISO, Shoe Dept. Encore and Regal Cinemas.

THE SHOPS AT GRAND CENTRAL MALL

The Shops at Grand Central Mall is a 44,477 square foot retail building situated on 14.2 acres on the periphery of Grand Central Mall. The Shops is currently 100% leased and represents a unique opportunity to acquire a well-located, institutionally owned, shopping center occupied by in demand, first to the market, national credit tenants, with a strong in-place cash flow.

• The Shops ranks as one of the top 10 shopping centers within a 50-mile radius, drawing more than 668K visitors over the last 12 months, according to Placer.ai. 

• The Shops is 100% leased to five national tenants, with a WALT of 4.3 years, providing stable cash flow and minimizing downside exposure. Collectively these tenants generate $916K in annual rental revenue.

GRAND CENTRAL MALL OUTPARCELS

There are four single tenant net leased outparcels at Grand Central mall. The Outparcels are leased to a diverse lineup of best-in-class casual dining tenants (LongHorn Steakhouse & Outback Steakhouse), one Drive-Thru QSR tenant (Popeyes), and one neighborhood discount retailer (Big Lots). The portfolio comprises 9.24 acres and 57,708 rentable building square feet. The outparcels can be purchased separately or as a portfolio. 

• The portfolio has 5.7 of weighted average lease term remaining – 6.5+ years for LongHorn Steakhouse, Outback Steakhouse and Popeyes while Big Lots has 4.2 years of firm term remaining.
• LongHorn Steakhouse, Outback Steakhouse, and Popeyes leases all call for 10% rental increases every 5 years while Big Lots lease calls for $0.50 PSF rental increases every 5 years. All four tenants have renewal options remaining.

NATIONAL MALL TEAM CONTACTS