Hull Property Group Acquires Charleston Town Center
Hull Property Group announced today the acquisition of the Charleston Town Center in Charleston, West Virginia. The property adds to the company’s growing portfolio of retail property comprised of over 16 million square feet including 33 enclosed shopping malls across 16 states.
“We are excited to join the Charleston community and own our first property in West Virginia. The Charleston Town Center can and should continue to be a viable shopping and dining destination,” said Jim Hull, owner of Hull Property Group. “Our goal is to reposition Charleston Town Center by working with Charleston leaders and downtown property owners to create a successful future for not only the Mall but the entire downtown area. The first step is to address the exit of national retailers from downtown Charleston while we work together to develop the path forward.”
Mayor Amy Goodwin agreed and stated, “The stabilization of the mall should be a top priority. It occupies a prominent location in downtown Charleston and represents a great redevelopment opportunity. We are pleased that a group with the experience of Hull Property Group has purchased the mall and we look forward to working with them.”
Hull Property Group has over 40 years of experience specializing in retail real estate and a strong track record of acquiring and re-positioning under-performing enclosed malls. The company has a consistent record of property redevelopment and improvement as well as a demonstrated commitment to providing new investment capital and building strong community relationships to foster economic development.
“The decline of this property did not occur overnight, and it will not be fixed overnight. Regional malls across the country are struggling with the new realities of retail - changing shopping patterns, the rise of internet sales and simply too much space and too few tenants,” said John Mulherin, Vice President of Government Relations. “We must be adaptable and there are many ways to creatively reconfigure properties to accommodate retail, commercial, civic, hospitality and other type uses. We look forward to getting to know the downtown Charleston area better and being the good stewards this important property needs”.