Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of The Shops at Kanawha, a 160,694-square foot retail property located in Charleston, WV, according to Colby Haugness, regional manager of the firm’s Cincinnati office. The asset sold for $18,500,000 making it the largest arms-length retail transaction in West Virginia in the last ten years.
Stan Falk and Joel Dumes, Senior Vice President of Investments in Marcus & Millichap’s Cincinnati office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Francis McGuire, Broker, assisted in closing this transaction. Mark Sher, who has since joined KW Commercial, represented the buyer, a limited liability company.
The Shops at Kanawha is located at 5707 Maccorkle Ave SE in Charleston, WV and is shadow anchored by a high producing Kroger grocery store and home to the headquarters and other divisions of the State of West Virginia Department of Motor Vehicles, along with other national and regional tenants.
