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By Nick BrockmanRegister-Herald ReporterThe Register-HeraldMon Apr 04, 2011, 12:04 AM EDT
BECKLEY — Tenants and customers of Raleigh Mall can expect a new look now that Pittsburgh-based property owner H.L. Libby has announced a decision to demolish the site’s interior mall structures.
The plan, according to H.L. Libby’s website, is to demolish 72,000 square feet of the 353,321-square-foot site and, in doing so, entice new retailers to the property.
“It is official that we will be demolishing the mall,” said Jim Libby, H.L. Libby’s vice president of acquisitions. “I don’t have a timeline on it exactly, but we will be demolishing what used to be the interior mall component of the property.”
Interior mall tenants will either be relocated elsewhere on the property or leave as leases expire, Libby said.
Other buildings at the mall, like Elder Beerman, will remain but be redesigned.
“We will build a new facade on the front of (Elder Beerman),” Libby said. “It will look like a brand new store, frankly, when we’re done with it.
“We have an overall development plan for the property. There will be some free-standing components. There will be some new retail, and we hope to announce soon some additional restaurant venues that may be coming to town.”
An Elder Beerman manager who wished not to be identified said she is thrilled with H.L. Libby’s ideas for Raleigh Mall.
“We are very excited about their plans to bring in different businesses and rejuvenate the property,” she said. “My understanding is they are committed to bringing in more businesses and just turning the property back into a place customers will want to shop again.”
Libby said the decision to demolish the interior stores was dictated by the market.
“I think there really isn’t enough demand in Beckley for a second interior mall,” he said referring to the Raleigh and Crossroads malls.
H.L. Libby, which owns Beckley Crossing too, purchased the Raleigh Mall site in September, Libby said, with plans to refurbish the property.
“We buy properties that are not performing well but have good fundamental real estate underneath them,” he said. “This property obviously has good real estate. It’s a very good location. It’s well-positioned in the market. It just is not set up to compete. We feel that with some creative thinking we can re-position the property and make it a much better performing asset than it is now.”
That includes a new tenant for the former Montgomery Ward space.
Libby said the property owner has been negotiating with a retailer to occupy the space, and an announcement may be coming soon.
“As soon as I’m at liberty to announce it or I have permission on the part of the retailer, I will announce it, but I can’t announce it now,” he said. “I don’t have consent, but we are very close to finalizing a deal for that space.”
All businesses will remain open during the demolition phase except interior tenants, Libby said.
The demolition may start this summer, Libby added.
“Our goal is to frankly start demolition as soon as practicable,” he said.
Barry Nicholson, spokes-person for H. L. Libby Corp., the company that bought Raleigh Mall to redevelop it said, “We are very excited to see Dunham’s come to Beckley. Dunham’s has really aggressive price points and customers will find very competitive prices,” he said. “But because the Beckley area is known for a strong outdoor activity area, and with so many outdoor options to partake in, putting a store here was a natural for them.”
Dunham’s Sports, Elder-Beerman, Gabriel Brothers, Big Lots and Tractor Supply will anchor the revitalized mall.
More construction is on its way as restaurants will begin to move in, but H.L. Libby does not comment on possible retailers, saying they leave the confirmation of possible restaurants up to the company.
It'll be interesting to see how it compete's with Dick's, which also recently opened in the area, but at Crossroads Mall.
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