SCOTT DEPOT, W.Va. — DLP Real Estate Capital announced this week its $43 million acquisition of Wexford Village at Devonshire Apartments in Scott Depot in Putnam County.
“We are thrilled to add the community of Wexford Village to our portfolio,” Don Wenner, founder and CEO of DLP Real Estate Capital, said in a news release announcing the purchase. “While this Class A property will offer a full suite of luxury amenities to all of its residents, we recognize that there is pent-up demand for high-end interiors, which we will be investing in providing to our current and future residents.”
DLP has headquarters in Bethlehem, Pennsylvania, and other offices in many other states. The acquisition marks DLP Real Estate Capital’s first footprint into the Mountain State, the company said.
Wenner said that Putnam County has a long history of successfully attracting global business and industry leaders, such as Toyota Manufacturing, a $1.4 billion plant facility with plans for enlarging and increasing its workforce.
“Wexford at Devonshire is less than 20 minutes from the plant and is one of only two Class A multifamily residences within a 15-mile radius,” he said in the release. “The school system includes three national Blue Ribbon schools and 16 West Virginia ‘Schools of Excellence.’ The property is located just south of the highly traveled Teays Valley Road corridor, near major highways.”
Wexford Village comprises 340 units in 14 buildings, ranging in size from 1-bedroom, 1- bathroom, 810-square-feet to 3-bedroom, 2-bathroom, 1,320-square-feet apartments.
“The property has enjoyed exceptional monthly rent growth in the past year,” Wenner added. “Total income in July 2019 is 7.9% higher than July 2018.”
Putnam County has experienced a 2.1% population increase since 2010, and no new planned developments means less options on the market for a prospective tenant, driving up occupancy levels, the company said.
The apartments were constructed in two phases in 2008 and 2016. The sale was brokered by Charles Wentworth, senior vice president of Colliers International, the company said in the release. For more information, visit dlprealestate.com.
VERSONA: Versona will open its first store in West Virginia on Thursday, March 12, in the Huntington Mall in Barboursville.
A grand-opening event celebration will run from Thursday, March 12, through Saturday, March 14, starting at 10 a.m. daily, mall officials said. The event will include a special swag bag with a gift card for the first 50 guests each day.
Versona is a women’s fashion boutique offering apparel, jewelry and accessories.
A Versona store typically employs about 25 people. The store manager will be Amanda Spurlock.
The store hours are 10 a.m. to 9 p.m. Monday through Saturday and noon to 6 p.m. on Sunday. Additional information is available at www.shopversona.com.
PAWN WORLD: Pawn World is opening its newest shop on Friday, March 6, in downtown Ashland.
Since its founding in 2016, Pawn World’s motto has been “We give back” by providing customers with exceptional customer service and great deals, the company said in a release announcing the new location.
The new shop is at 2416 Winchester Ave. For more information, call Chris Hutchison at 740-379-0062.
KROGER: Kroger announced last week that West Virginia customers now can add alcohol to their curbside pickup orders.
In celebration of the news, Kroger donated $10,000 to each the Facing Hunger Food Bank and Mountaineer Food Bank.
The addition is a result of new state laws that allow for the delivery of wine and beer into vehicles at grocery stores in designated parking spots.
Twenty-four Kroger stores across West Virginia currently offer pickup. Kroger stores that soon will launch pickup also will allow for online ordering of wine and beer.