“The Retail Apocalypse
” is a great catch phrase that grabs attention. News outlets make sensational claims that Amazon is destroying the retail sector and that, across the board, retail real estate is in big trouble. These claims are overstated and misguided.
The retail industry isn’t dying, but rather evolving.
The following article will explore three topics: retail real estate that is in trouble, retail real estate that is well positioned and the perceived 400-pound gorilla in the room, Amazon.
Enclosed malls are facing the most trouble right now. While foot traffic in enclosed malls continues to decline
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, the significant operating expenses from expansive common areas remain. Assets in secondary and tertiary markets are particularly at risk. Businesses most affected by the retail apocalypse are retail clothing and electronic stores in enclosed malls. We will see malls close soon. However, many malls will be reinvented with new and innovative uses.
Across the country we are already seeing “dead malls” get new life with unique uses such as: satellite college campuses, sports complexes, multifamily, etc.
Enclosed malls are in the most trouble, if they don’t seize opportunities for reinvention – aka the Google Glass headquarters in Mountain View, CA and Mylan Pharmaceuticals at Mountaineer Mall in Morgantown.
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Black Diamond Realty extends a huge congratulations to
Defense In Depth
on their grand opening which took place on December 1st. As the largest indoor shooting range in West Virginia, Defense In Depth aims to cater to the needs of new and experienced shooters alike with its state-of-the-art facility located within the Sabraton Plaza at
1389 Earl L. Core Road, Morgantown, WV
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SABRATON PLAZA
– ONLY 2,420 +/- SQUARE FEET REMAINING – PRIME RETAIL or OFFICE SPACE
(able to be subdivided). Only 2 doors from Defense In Depth! Click the button below for more information.
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Flex Building
201 Fieldview Ave, Morgantown, WV
- 6,000 square foot building
- In shell condition, ready for a build-out to suit any tenants needs
- Two 16' drive-in/grade level doors
- 18' ceiling height at the eaves
- Spacious parking lot
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Retail/Office Space
918 Chestnut Ridge Road, Morgantown, WV
- 1,300 total square feet available
- Located within the Chestnut Ridge Professional Building
- Existing tenants include: Priority Care Medical Group, GEICO, Subway, Surge, PeppeBroni's Pizza, Family Vision Clinic, Toni Exquisite Hair, WV Nail & Spa
- Positioned in a prime location along Chestnut Ridge Road (Route 705) between Don Nehlen Drive/Mon General Drive and Pineview Drive
- 34,175 vehicles per day (WVDOH, 13)
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WELCOME TO THE TEAM, JEFF
Black Diamond Realty is growing! This past month we welcomed our newest member to the Black Diamond Team, Jeff Stenger.
Jeffrey T. Stenger
is a licensed commercial real estate associate in Morgantown, West Virginia. He earned a bachelor’s degree in Communications at the University of Maryland and his real estate license through the West Virginia Real Estate Commission. As a Morgantown native who attended school and worked in the Washington metropolitan area, Jeff brings a unique perspective to the team.
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Holiday Open House - RSVP
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LOCATION
1399 Stewartstown Road, Suite 300, Morgantown, WV 26505
DATE AND TIME
12/07/17
5:00pm -
12/07/17
5:00pm
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We want to make it as easy as possible for our clients to find exactly what they are looking for. Whether it be for office, industrial, retail, land, or
investment,
we take pride in all of our offerings and believe each one has something special. Click the images below to see what's new in our inventory.
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“Real Service. Real Value. Real Results.”
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