Auction set for two shopping centers
ELKINS — Two Elkins shopping centers will be up for auction early next month after being foreclosed upon earlier this month.
The Plantation Plaza and Valley Pointe Shopping Center, located approximately a mile apart on the Beverly Five-lane, are both subject to auction Feb. 7 — Valley Pointe Shopping Center is set for 10 a.m. and Plantation Plaza is set for 10:30 a.m. — on the front steps of the Randolph County Courthouse.
According to courthouse documents, the listed grantors for the properties are Center Designs LLC, a Georgia limited liability company and Retail Designs LLC, a Florida limited liability company, both of which have ties to William A. Abruzzino, who also recently defaulted on the Hampton Inn in Elkins and Hilton Garden Inn in Clarksburg, both of which were sold during auctions Nov. 30.
Abruzzino, a Shinnston native now living in Florida, is listed as the director and president for Retail Designs LLC and a member of Center Designs LLC, according to the West Virginia Secretary of State website.
Randolph County Commission President Mike Taylor said Wednesday he hopes the community does not suffer the loss of business and jobs within the county because of the foreclosures.
“The concern is that if those businesses sell and another buyer doesn’t come in — we certainly don’t want to lose those businesses, because that would translate into loss of jobs and we wouldn’t want to see that happen if at all possible,” he said.
Stores located within the Valley Point Shopping Center include El Herradura Mexican Restaurant, Shoe Show, Peebles, AT&T, Mattress Warehouse, Paula’s, Sprint, GameStop, Subway, General Nutrition Center, Golden Nail Spa, Cato and U.S. Cellular.
Randolph County Development Authority Executive Director Robbie Morris said the Applebee’s property is owned by Plaza Management, based out of Miramar, Florida, which he also believes to be owned by Abruzzino.
Stores located within the Plantation Plaza include Anytime Fitness, a dentist office, Supercuts, Sally Beauty Supply, Cricket Wireless, Goodwill, Sakura Japanese Steakhouse, Jeanie’s Hot Spot, Dollar Tree and Smoker Friendly.
An appointment of successor trustees, which appointed Mark A. Sadd and D. Kevin Moffatt, both of Lewis Glasser PLLC of Charleston, to the properties, was filed in the Randolph County Clerk’s office on Feb. 14, 2017.
In the appointment of successor trustees document, it lists the maximum principal amount lended to the grantors not to exceed $47,733,094.
Due to a default having occurred under the deed of trust, the lender, secured party and beneficiary — Carter Bank & Trust of Martinsville, Virginia — instructed Sadd and Moffatt to foreclose on the properties and set them for the aforementioned auction times.
According to terms of sale listed on notices of trustee’s sale of valuable real estate documents sent to The Inter-Mountain to be run as legal advertisements, 10 percent of the winning bid(s) is required on the day of the sale and the balance is due within 30 days; the property is sold subject to an accurate survey at the purchaser’s expense; the sale is subject to any and all assessments and unpaid taxes against the real property, and all prior liens and encumbrances of any nature whatsoever; the purchaser shall pay the excise transfer tax imposed by West Virginia code 11-22-2; the real property will be sold in “as in” condition; if there is one of more federal tax liens against the real property, the United States will have the right to redeem the real property within a period of 120 days from the date of the sale of the period allowed for redemption under state law, whichever is longer; and the lender, secured party or beneficiary — Carter Bank & Trust — reserves the right to purchase the real property at the sale.
Additional terms of sale can be found in the legal advertisement.