Plaza East Multi-Tenent Retail Center

Plaza East Multi-Tenent Retail Center Offering Brochure 93,479 Square Feet Charleston, West Virginia Fully Occupied Neighborhood Center Cushman & Wakefield is pleased to present to Offering at a Glance qualified investors the opportunity to purchase Asking Price: $7,300,000 ($78.09/SF) Plaza East, a 93,479 SF retail center in Charleston, Cap Rate: 9.38% WV. Located in the heart of downtown, Plaza East is In-Place NOI: $684,811 a quality asset with a strong occupancy history and a Building Size: 93,479 SF strategic location within the state capital. Address: 1313-1327 Plaza East, Charleston, WV 25301 Executive Summary Executive Investment Highlights • Credit Tenants – Between the WV Government (AA) and CVS (BBB+) over 65% of the space in the center is occupied by investment grade credit tenants. In addition, Dollar Tree/Family Dollar (BB+) and Rent-A-Center (B+) are also nationally recognized, publicly-traded companies. • Capital Location – Not only is Charleston the country seat of Kanawha County, it is also the West Virginia state capital. A county seat implies an abundance of governmental jobs which are typically more stable than private sector jobs and help minimize major swings in employment and ultimately consumer spending. Plaza East is home to many such employees in several governmental divisions. • Developing Neighborhood Area – The area immediately surrounding Plaza East is currently experiencing a renaissance that includes the conversion of older office and industrial buildings to high-end condominiums, further hospital expansion and governmental development to the north and east of the site. Although Plaza East is currently 100% occupied, as the area surrounding the property continues to improve, future redevelopment of the property into multi-family, office or a parking structure could be an opportunity. • West Virginia Power – Plaza East is located across Morris Street from Appalachian Power Park. The 4,500-seat stadium is home to the West Virginia Power, the single A affiliate to the Pittsburgh Pirates and one of the key local attractions in the City of Charleston. Although the Power is the main tenant of the stadium, it is also used by Marshall University, the University of Charleston, the West Virginia High School Baseball Championship as well as other non-baseball events. The activity at the ballpark continues to add a liveliness to the area which will help the long-term viability of Plaza East. • Technology Resistant Tenants – Plaza East is a prime example of using retail space in non-traditional ways such as a laundromat, tire store, medical and government offices. These are uses that will see little or no negative impact from the “Amazon Effect” which will aid Park East’s stability well into the future. cushmanwakefield.com | 3 PLAZA EAST For more information please contact one of the following individuals: Hank Davis Michael J. Sullivan, CCIM Brian Young, SIOR, CCIM Senior Director Senior Director Senior Vice President [email protected] [email protected] [email protected] +1 513 763 3022 +1 513 763 3032 +1 864 370 8087 Cushman & Wakefield 201 E. Fourth Street, Suite 1800 Cincinnati, OH 45202 www.cushmanwakefield.com.

Load more