CHARLESTON, W.Va. - Riverwalk Plaza in South Charleston has been sold in a $68 million deal involving five shopping centers.
Zamias Services Inc. of Johnstown, Pa., and Bon Aviv Investment LLC said they purchased the properties from Kimco Realty Corp. of New Hyde Park, N.Y. Kimco had owned Riverwalk since 1999.
The sale price for each individual property was not immediately revealed. Joe Anthony, Zamias' president and chief executive officer, said the deal closed on Friday. As of Tuesday the deed had not yet been filed at the Kanawha Courthouse.
Asked about the new owners' plans for Riverwalk, Anthony said, "I think we're going to continue to add to the great complement of tenants we have. Riverwalk is 90 percent leased. There's not a lot of excess development space available there - I wish there was more. We will add to the great work that Kimco did."
Anthony said confidentiality agreements prohibit him from naming names but, "I can tell you we're currently talking with potential tenants about new leases at the Riverwalk property."
Riverwalk contains 148,059 square feet of leasable space and 660 parking spaces.
Kroger and TJ Maxx are anchor tenants. Other tenants include Burger King, Krispy Kreme, Casa Garcia, Catherines, Dollar Tree, Edible Arrangements, Graziano's Pizza, Meabon's Vacuum, Subway and Anytime Fitness. There is a BB&T Corp. branch bank on an adjacent parcel.
Kimco put the 14.75-acre center up for sale in 2006 for $18.5 million but subsequently took it off the market. As previously reported, the center was put up for sale again earlier this year. Kimco's marketing materials did not reveal the asking price.
According to Kimco's annual report, the company had invested $13.9 million in Riverwalk.