Cafaro puts the pedal to the metal on middle-market malls

Al Urbanski

10/3/2025  Chain Store Age

 

Cafaro aims to infuse Grand Central Mall with top-notch retail, restaurant, and entertainment brands.

 

A 76-year-old owner-operator of super-regional malls located in B and C markets such as Clarksville, Tenn.; Monroe, Mich.; Erie, Pa., and Puyallup, Wash., finds itself expanding during a period of paucity in quality retail real estate.

The Cafaro Company, whose headquarters reside in its 3.4 million-sq.-ft. Eastwood Mall Complex in Niles, Ohio, announced that it has acquired Grand Central Mall in Vienna, W.Va. The 908,000-sq.-ft. property, which opened in 1972 and houses 90-plus tenants, is the only enclosed mall within 35 miles of its region.

“We believe strongly in the viability of middle market shopping centers, a segment of the industry we have led for generations.” said Cafaro co-president Anthony Cafaro, Jr., whose grandfather William M. Cafaro and his brother founded the company in 1949.

Grand Central Mall draws more than five million unique visits annually, according to Cafaro. A recent redevelopment of a former Sears anchor made room for new tenants T.J.Maxx, HomeGoods, Ross Dress For Less, and PetSmart.

Other key tenants include Ulta, Old Navy, Five Below, and Panera which shadow-anchor the mall.

Cafaro is in the planning stages of a future mall-wide renovation aimed at creating a fresh and modern atmosphere for its patrons and retail partners.

“We will be infusing the necessary capital and expertise to attract best-in-class retailers, restaurants, and entertainment venues to Grand Central Mall,” Cafaro said. “We are excited to incorporate this property and its vast trade area spanning two states into our portfolio of dominant fortress mall assets.”

Grand Central Mall and contiguous centers owned by The Cafaro Company occupy nearly 100 acres on the Ohio River in Vienna, W. Va. Cafaro reports that it is the only major shopping destination within a 70-mile radius.

Cafaro has proved fastidious in carving out precious mall anchor spaces and re-tenanting them with popular brands. It recently announced that 91,000 sq. ft. of empty anchor space at its Ohio Valley Mall in St. Clairsville, Ohio, would soon be welcoming new tenants.

Academy Sports and Burlington will take up 78,000 sq. ft. of what used to be the Sears store at Ohio Valley, and Boot Barn will open in a 13,000-sq.-ft. space that used to be part of Macy’s.