RANSON, W.Va. — A joint venture partnership between Heidenberg Properties Group and Strategic Real Estate Partners announces the $35.9 million acquisition of The Potomac Marketplace in Ranson, W.Va.
The 370,000 square-foot shopping center is anchored by a 61,000 square-foot Weis Supermarket, a 122,000 square-foot Home Depot, an 88,000 square-foot Kohl’s and a 15,000 square-foot Petco, according to a news release. The center is 92 percent occupied and has approximately 51,000 square feet of inline store space and outlots, which offer an array of popular restaurants including Panera Bread, Dunkin’ Donuts, Glory Days Grill, California Tortilla, Roy Rogers and John’s Café.
“In acquiring The Potomac Marketplace, we obtained yet another grocery-anchored shopping center in the best location in the market,” Robert Heidenberg, president and chief executive officer of Heidenberg Properties, said in the news release. “The presence of Home Depot and superior performing restaurants enhances the tenant mix and provides shoppers additional reasons to visit this center. We believe that we are adding The Potomac Marketplace to the portfolio at the right time, as the trade area is poised to take advantage of catalysts for housing growth.”
The population in the trade area grown 35.6 percent since 2000, reaching 31,700.
The acquisition marks the joint-venture partners’ sixth acquisition overall and the third since November 2016.