Charleston Town Center Auctioned Off for $35 Million

Local News

CHARLESTON, WV (WOWK) – The Charleston Town Center has been auctioned off for $35,000,000 to US Bank.

US Bank is the bank holding the lien on the Charleston Town Center. 

Lisa McCracken, the Marketing Director for the Charleston Town Center, released a statement, saying, “Today‚Äôs legal action moves Charleston Town Center successfully out of Receivership. CBRE remains committed to the future of Town Center and will continue to manage the property while working to meet the shopping, dining, and entertainment needs of the community.”

Mayor Amy Shuler Goodwin released the following statement regarding the auction:

“I am pleased this important step has been completed for the Charleston Town Center Mall property. Our team will continue to actively monitor the situation and stand ready to work with the purchasers to maintain our existing stores, shops and restaurants and explore new tourism opportunities.

We have been in contact with U.S. Bank National Association representatives to set up meetings to discuss next steps. We will work closely with them to provide any assistance necessary to ensure a vibrant future for the entire city.”

With Macy’s closing its doors, there is just one anchor store remaining inside of the shopping center. 

In an effort to save the mall, Mayor Goodwin tells us she’s forming a task force.

“The task force will design and direct the direction in which we are going. We’ll work with advantage valley because opportunity zones are happening, not only in Charleston but across the country. So, what our task force will do is work with entities like the Charleston area alliance, and advantage valley, to look at marketing pieces and pitch pieces to investors all across the world,” said Mayor Goodwin.

This is a developing story and we will continue to update it as more information becomes available.

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