PARKERSBURG - A financial services firm is looking to grow and develop in the Parkersburg area.
McKinley-Carter Wealth Services purchased the office building at 515 Market St. and over the last four months spent more than $1 million in renovations, including the third floor which will house its Parkersburg offices.
The building was purchased earlier this year by David H. McKinley, managing member of McKinley Properties, which has a real estate portfolio of commercial real estate with projects in Wheeling and Parkersburg. McKinley also is president and managing director of McKinley Carter Wealth Services and the son of U.S. Rep. David McKinley of West Virginia.
Photo by Brett Dunlap
David H. McKinley, Kara Rogers and Fred Tipper of McKinley Carter Wealth Services pose in the conference room of the offices the company is renovating at 515 Market St.
"The 5th at Market location was chosen with careful consideration," McKinley said. "Its position in the downtown business district and substantial parking lot were two particular items that made the space attractive."
McKinley sees the potential in developing the property to build long-term success for his company.
"We are a West Virginia-based company founded in Wheeling with offices in Charleston," he said. "We are committed to the Mountain State. We think there are great opportunities in this area.''
McKinley-Carter also has offices in Pittsburgh.
The Parkersburg community has been especially welcoming, McKinley said.
''Parkersburg is a great place to do business,'' he said. ''We have not been as well received as well in any of the other cities as we have in Parkersburg and Wood County. This community's efforts to attract new businesses and encourage growth and investments are far superior to what we have seen elsewhere.''
In August, McKinley Properties and 3D Construction began an extensive renovation project on the interior of the building. The law offices of George Cosenza will remain on the first floor of the building.
Improvements were made to lobby walls and ceilings. New flooring and new lighting was installed in common areas and a new fire alarm system has been installed throughout all floors of the building.
Significant renovations were made on the third floor of the building where all flooring has been replaced. Acoustical ceilings and lighting have been installed.
Data jacks have been upgraded, doors and hardware have been replaced, bathrooms and kitchens have been upgraded and walls have been repaired.
Tenants are being sought for the second floor of the building where additional renovations planned. An additional $1 million is estimated to finish the project.
McKinley-Carter manages $750 million in assets, McKinley said.
Its clients are comprised in three categories: wealth management for individuals and families; qualified plans for employers with 401Ks, 403Bs and pension plans; and financial advisory services to non-profit organizations.
''We have the capabilities to provide services to the workforce,'' McKinley said. ''We also realize that non-profits are big contributors to every community.''
As an incoming business owner, McKinley said it is important to create new opportunities and attracting new business to downtown Parkersburg.
''We love downtown. It is important for us to continue to develop this building and attracting professional services to downtown to one of the few Class A office spaces in downtown Parkersburg," he said. "I want it known we are committed to continuing to develop this property and making this corner as attractive as some of the others we see around town.''