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Elkins shopping centers sold at auction

ELKINS — Two Elkins shopping centers, which were foreclosed on earlier this year, were auctioned off Wednesday for more than $10 million combined.

The creditor — Carter Bank & Trust of Martinsville, Virginia — purchased the Valley Pointe Shopping Center and Plantation Plaza, located approximately a mile apart on the Beverly Five-lane.

Valley Pointe Shopping Center sold for $6,364,000, while Plantation Plaza went for $4,822,000.

The buyer also will be required to pay unpaid taxes that are estimated at $95,522.21 for Valley Pointe Shopping Center and $86,846.87 for Plantation Plaza.

Nobody appeared at the auction on behalf of Carter Bank & Trust; however, the company submitted bids. Two bidders were present for the Valley Pointe Shopping Center auction and three bidders were present for the Plantation Plaza auction.

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. Those properties 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.

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 — instructed Sadd and Moffatt to foreclose on the properties and set them for auction.

According to terms of sale listed on notices of trustee’s sale of valuable real estate documents, 10 percent of the winning bid(s) is required on the day of the sale and the remaining 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 or 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.

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