Entering West Virginia Market with Acquisition of Marion Square in Fairmont
Broad Reach Retail Partners marks its first investment in West Virginia with the acquisition of Marion Square, a 123,929-square-foot grocery-anchored shopping center positioned along the I-79 corridor.
Anchored by Food Lion, which has operated continuously at the property since 1995 and ranks within the top 84th percentile of grocery stores statewide, Marion Square is further strengthened by national tenants CVS, Planet Fitness, Busy Beaver, and O’Reilly Auto Parts. Food Lion recently extended its commitment through 2031, and CVS executed a ten-year renewal in 2022, reflecting a tenant base that averages more than a decade of operating history at the center—and more than sixteen years among the anchors.
Set on 25.79 acres along Country Club Road, the property benefits from limited competition and meaningful barriers to entry created by the region’s topography and constrained development land. The nearest competing grocery, hardware, and fitness alternatives sit well outside the immediate trade area, reinforcing Marion Square’s position as the dominant necessity-based destination for the surrounding population. The center is located directly off US Highway 19 and is approximately ten minutes from Interstate 79—where traffic counts exceed 54,000 vehicles per day—seven minutes from downtown Fairmont, and within a 30-minute drive of approximately 113,725 residents.
The center is positioned at the heart of one of north-central West Virginia’s strongest employment ecosystems. Within minutes of the property are Fairmont State University (3,200+ students), the 400-acre I-79 Technology Park (home to more than 30 businesses and roughly 1,200 employees, including NASA, NOAA, the Department of Defense, and the FBI), WVU Medicine Fairmont Medical Center, and Mon Health Marion Neighborhood Hospital, a $20 million facility that opened in 2021. The broader 40-mile regional population exceeds 452,000.
“Marion Square checks every box we look for in an acquisition: a dominant, long-tenured grocer, a tenant roster anchored by national credit, and a location that simply cannot be replicated,” said Nate Tower, CEO. “Entering West Virginia through a center of this caliber, in a market supported by federal employers, healthcare, and higher education, gives us an outstanding foundation to build from.”
The acquisition presents a substantial value-add opportunity. Marion Square is currently 80% occupied with eight vacant suites totaling 25,150 square feet, ranging from 2,000 to 5,000 square feet. Broad Reach intends to deploy its in-house leasing platform to lease up the available shop space.
“Between the existing anchor tenancy, the depth of the surrounding employment base, and 25,000 square feet of leasable shop space, Marion Square offers exactly the kind of profile our partners look for—stability today and meaningful NOI growth ahead,” said Mike Castellitto, COO.
The acquisition of Marion Square continues our steady expansion across the Mid-Atlantic and Appalachian regions and reinforces our strategy of acquiring necessity-based, grocery-anchored centers in markets defined by stable demand, durable tenancy, and genuine barriers to new supply.