306 Beckley Plz
Beckley, WV 25801

Marcus & Millichap, on behalf of ownership as its exclusive advisor, is pleased to bring to market Beckley Plaza, located in Beckley, West Virginia. This 53,850-square foot value-add shopping center opportunity is currently 70 percent occupied, and is shadow anchored by an 83,225 square-foot Kmart. Nearly 95 percent of the occupied space is leased by nationally recognized tenants, including Dollar General, Aaron’s Rents, Factory Connection, Rent-A-Center, Long John Silvers, and Sprint PCS. Long John Silvers is freestanding and separately parceled. Rent-ACenter and Sprint PCS have been in-place since 1990 and 2001, respectively, showing long-term commitment to the site. The only local tenant, Patty’s Restaurant, has been in-place since 2003. Mattress Warehouse currently occupies 4,730-square feet and is expected to pay just over $60,000 in base rent and expense reimbursements through their December 2018 expiration. Mattress Warehouse is expected to vacate at the end of their term, and the income and occupancy associated with Mattress Warehouse has not been included in our underwriting. Significant upside exists in lease-up of the 11,025-square foot vacancy, and re-leasing of the Mattress Warehouse when they vacate. Located along U.S. 19, Beckley Plaza receives excellent visibility to the 35,519 cars passing by each day. The subject property is located within Beckley’s primary retail corridor, and is situated directly across from Tractor Supply, Dunham’s Sports, Jo-Ann Fabrics, Gabe’s, Harbor Freight, Party City, Big Lots, Cheddar’s Scratch Kitchen, and Olive Garden. Other prominent national retailers in the immediate vicinity include Walmart Supercenter, Lowe’s, Sam’s Club, Kohl’s, Kroger, Hobby Lobby, T.J. Maxx, Food Lion, and dozens of restaurants, fast food, and small shop tenants. Demographics in the area are dense, with 23,522 residents within three miles and 40,672 residents within five miles of the property. Beckley’s retail corridor draws from a large geographic are with consumers traveling in from tens of miles in every direction. The Beckley metropolitan area has a population of 123,000.