MARTINSBURG, W.Va.- Mountain State University has purchased Martinsburg Mall, located at 800 Foxcroft Avenue in Martinsburg, W.Va. The mall, comprising close to 550,000 square feet of space on 79 acres, will provide space for university programming in addition to its existing role as a retail center. The purchase also includes three outparcels that total about six acres.

According to MSU President and CEO Dr. Charles H. Polk, “MSU-Martinsburg is a vital component of the future of Mountain State University.  With the tremendous growth experienced over the last few years, it became obvious very quickly that we needed more space in order to continue to expand programmatic offerings. The Martinsburg Mall provides just such an opportunity while also providing mall tenants with increased business opportunities in the form of MSU students.  The acquisition of the Martinsburg Mall is a positive for both the University and those who do business in the mall.”

MSU Martinsburg Executive Vice President Layne Diehl agrees, “MSU’s Martinsburg Campus enrollment has grown by over 30 percent each year in the last three years. The mall seemed to be a natural fit for the university because it provides so many amenities for university students.”

MSU’s Martinsburg campus is currently housed about a mile away from Martinsburg Mall, in a converted 45,000-square-foot outlet mall that was purchased in 1999.

Officials of the Beckley-based university, which operates five branch campuses in four states, began looking into acquiring the mall last summer. The property had been placed in receivership of Jones Lang LaSalle Inc. in January 2009 after defaulting on debt payments in the fall of 2008, according to court records. MSU has retained the services of Jones Lang LaSalle (JLL), a professional mall management firm, to assist in providing overall strategy and recruitment of appropriate retail opportunities to the center.

In the fall, university officials began working with the Martinsburg Planning Commission to obtain zoning permissions. Upon completion of the commission’s requirements, MSU is now allowed to use the space for educational purposes.

According to Diehl, MSU plans to have the mall continue as an important retail center in Martinsburg. The university is working both with existing and potential retailers to infuse new energy into the mall, which will be operated by a third-party management company. About 45,000 feet, or eight percent of the mall’s total space, will be devoted to an integrated learning center aimed at bringing in new MSU students and increasing the foot traffic to stores and restaurants.

The learning center, expected to be completed by fall of 2010, will include computer portals, small classrooms and conference space, study carrels and a student service center. Students will be able to register, receive academic advising, seek assistance with financial aid, access research materials through the University’s online library, study, and meet with faculty and staff members. The center will be located in the former Rex Electronics location, next to the Bon Ton department store

“We feel that the acquisition is a win-win-win situation for everyone concerned. The community will benefit by being able to keep the mall as a viable component to its economy. Tenants will benefit from the increased foot traffic created by students at the center. The university will benefit by having a place to expand its services close to its existing University Center on Viking Way”, stated Diehl. “This facility will finally be able to flourish at the full potential that has always been there, but has been unrealized until now.”

New retail stores are expected in the coming months, along with additional food service and dining options. In the more distant future, outparcels surrounding the mall could be home to such additional amenities as student housing and athletic fields.

About MSU – www.mountainstate.edu

Mountain State University, founded in 1933, is a not-for-profit independent institution based in Beckley, W.Va., serving more than 8,700 students a year in such market-relevant fields as business, accounting, computer science, information technology, criminal justice, nursing, medical sonography, and leadership. In addition to its main campus in Beckley, MSU has campuses in Center Township, Pa.; Martinsburg, W.Va.; Mooresville, N.C.; Orlando, Fla.; and Washington, D.C.; as well as a site in Hickory, N.C. Many degrees are also offered online. For more information, call 866.FOR.MSU1 (866.367.6781).