The Shoppes at Hungtington
Tenancy Type: Mixed
Lease Type: NNN
Address: 2957 Fifth Avenue
The Cooper Commercial Investment Group is pleased to announce the sale of The Shoppes at Huntington located at 2957 Fifth Avenue, Huntington, West Virginia 25702. With this property’s prime location near Marshall University and two medical facilities, lenders were eager to to see if they could provide the lending on this asset with highly attractive loan quotes. The 15,332 square-foot space was developed in 2008 to accommodate its highly recognizable tenants, which include: Dollar Tree, Verizon Wireless and Sun Tan City. Each tenant chose this location for their expansion in the West Virginia market. In addition to the long-term, high-profile tenants, the property also sits along Fifth Avenue, one of the busiest areas in the region. The area boasts a significant amount of traffic due to the property’s location between St. Mary’s Medical Centers, which has over 2,600 employees and Marshall University, which has over 14,000 students. The sale of the property closed at $2,460,000, representing an 8.75% Cap Rate and was a true success for all involved parties.
Dan Cooper, President and Broker of the Cooper Commercial Investment Group in Cleveland, Ohio had the privilege to represent the owners, a private group out of Mobile, Alabama, with whom the Cooper Group has worked with in several previous transactions. The buying party was a private investor out of Akron, Ohio, whom was also represented by Dan Cooper. “Due to this property’s high-profile tenants and prime location, lenders were eager to lend on this property, which helped to move the sale forward efficiently. This was an ideal transaction and The Cooper Group looks forward to working with both parties again in the future,” says Cooper. The Cooper Commercial Investment Group looks forward to working with all parties interested in selling or looking to acquire other similar commercial assets, and encourages you to contact them for a no obligation, evaluation of your commercial property. Visit The Cooper Commercial Investment Group on-line at www.coopergrp.com for the most up-to-date listings and property information. Please e-mail [email protected] to obtain additional information on any of our current listings.