SC Firm Buys 670,000 SF Mall in WV


An affiliate of a Myrtle Beach, S.C.-based real estate development company has acquired Martinsburg Mall, the company announced Friday.

Eric Cornett, chief operating officer of Paramount Development Corp., said in a news release that the company recently completed commercial development projects in Winchester, Va., and Shippensburg, Pa., and had been looking at opportunities in Martinsburg “for some time.”

Martinsburg Development Partners LLC, an affiliate of Paramount Development Corp. that was formed in November 2012, will hold title to the 670,000-square-foot shopping center property, the mall’s new owner said.

“Berkeley County is a high growth area, and we will be working hard to strengthen the Mall in a manner that will benefit the community,” Cornett said in the release.


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