SC-based development company buys Martinsburg Mall - Beckley, Bluefield & Lewisburg News, Weather, Sports

SC-based development company buys Martinsburg Mall

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MARTINSBURG (AP) — The Martinsburg Mall has been sold to South Carolina-based Paramount Development Corp.

Media outlets report that Paramount plans to maintain the 670,000-square-foot property as a shopping center.

Paramount affiliate Martinsburg Development Partners LLC will hold title to the property.

The purchase price wasn't disclosed.

The mall's former owner, Mountain State University, closed in December 2012 after it lost its accreditation. Paramount bought the mall from a company that had been controlled by the school, Mountain State University Building Co.

 

Copyright 2013 The Associated Press.