Full Breakdown
Grand Central Mall Under New Ownership: Cafaro Company Plans for Future Growth
3/5/2026, 12:03:53 PM
Overview of the Transition
Grand Central Mall, West Virginia's first enclosed mall, has recently come under the ownership of the Cafaro Company, a prominent shopping center developer based in Niles, Ohio. Established in 1972, the mall is the only enclosed regional shopping center within a 75-mile radius and spans 729,700 square feet, housing over 30 tenants. The mall's current anchors include J.C. Penney, Dunham’s, and Belk Outlet, alongside a redeveloped power center featuring retailers such as Ross Dress for Less and T.J. Maxx.
Cafaro Company's Vision
Ethan Faatz, the regional marketing director for Cafaro Company, emphasized the strategic fit of Grand Central Mall within their portfolio, noting that it mirrors the characteristics of other successful markets they operate in. Cafaro owns a total of three malls in West Virginia, including Meadowbrook Mall in Bridgeport and Huntington Mall in Barboursville, as well as properties across several states including Ohio, Iowa, and Kentucky. Faatz stated, “We were attracted to this market because it is very similar to all the markets our properties usually sit in.”
Future Developments and Improvements
Cafaro Company is committed to enhancing the tenant mix at Grand Central Mall. Faatz indicated that the mall was well-leased at the time of purchase, which facilitated a smooth transition into their management. He mentioned, “We have great relationships with all sorts of retailers and dining options throughout our portfolio,” suggesting that shoppers can expect new additions in the near future.
Official Statements & Future Announcements
Faatz expressed confidence in the long-term potential of the market, stating, “If we are going to invest in a market, it’s because we believe in the market and we believe there is a lot of long-term potential in the market.” He also hinted at forthcoming changes, saying, “There will be a lot of exciting changes coming soon,” with an announcement expected in the coming weeks.
Criticism & Opposition
While the transition to Cafaro Company has been met with optimism from the management, there may be concerns among local stakeholders regarding the impact of new ownership on existing tenants and the mall's community role. However, specific dissenting viewpoints were not detailed in the sources.
What's Next
As Cafaro Company prepares to implement changes at Grand Central Mall, the local community awaits further announcements regarding the specific improvements and new tenants that will be introduced. The anticipated updates are expected to enhance the shopping experience and potentially attract a broader customer base.
