At Glenmark, our team is one of our company's most valuable assets, combining decades of experience, leadership and service. Our leadership team helps provide the guidance and direction for the company, ensuring we continue to operate on the same values that we were founded upon.
Glenmark is a dynamic real estate development, acquisition, and management company headquartered in Morgantown, WV.
Since 1984, Glenmark has completed:
Glenmark is a proven leader, built on a reputation of integrity, innovation, and client satisfaction. Since 1984, Glenmark has grown through strict adherence to these principals and commitment to the highest degree of quality service for its clients. Glenmark and its affiliates have acquired, designed, constructed, or financed over 25 million square feet totaling over $410 million in development projects, which have all been successfully accomplished on-time and within budget.
This record of achievement is a result of Glenmark’s diverse expertise and dedication to comprehensive planning, scheduling, designing, and costing, all of which are essential prior to the first shoveling of dirt, and continuously thereafter. Our experience includes power centers, business parks, Class A & B office, medical, hospitality, retail, warehouse, light industrial, flex, government, mixed-use, land, residential, recreational, private-public partnerships, off-balance-sheet, student housing, and build-to-suit.
The Glenmark team delivers on every angle by taking a detailed approach to achieving our clients’ goals.
The Glenmark team is dedicated to service that ensures the success of our clients and community.
The Glenmark team designs personalized plans, based on client and community needs, to provide the highest level of service.
The Glenmark team possesses a unique network of resources that continues to grow through community involvement, contribution, and transforming developments.
Glenmark has proven to be a solid performer since first opening its doors in 1984. Built on a reputation of integrity, innovation, and client satisfaction, Glenmark has grown through strict adherence to these principals. For over 35 years, Glenmark has been committed to the highest degree of quality service for their clients.
Glenmark works diligently to transform a vision into a detailed and innovative project. Our principal objective is to meet the needs of our existing tenants and future clients. For over 35 years, our expertise, foresight, and integrity have ensured client satisfaction. Glenmark’s quality reputation is built on a commitment to customer service, hard work, and integrity.
We work diligently to transform a vision into a detailed and innovative project. Every venture or business challenge is approached with careful analysis of the basic business principles, financial model, management, and marketing plan. Our clients receive vital support in developing, executing, and facilitating all or part of their business plan. At Glenmark, we believe in exceeding client expectations and our reputation confirms that.
Whether it’s locating space in one of our existing commercial buildings, developing an entire shopping plaza from a clean sheet of paper, or building a new structure for your business, Glenmark can accommodate your development needs.
Goals are accomplished by utilizing the skills of a unique group of committed, seasoned professionals. Identifying acquisition and development opportunities, coordinating the acquisition, development and due diligence process, arranging financing and capital, and executing asset strategies are an integral component to Glenmark’s success. At Glenmark, we set the bar high because we are committed to uncompromised integrity, quality, and value. We built our reputation on these virtues and are driven to deliver quality for your business.
As a developer and project manager, Glenmark has vast knowledge in projects across the spectrum of product types. Our experienced team allows us to effectively perform on projects of varying levels of complexity. From ground-up class A office structures to renovations on existing assets, and from single-story retail buildings to simply finding you the perfect site to build your vision, Glenmark is the perfect choice to be your commercial and business property developer.
At Glenmark, our team takes great pride in maintaining involvement and support around the community. We strive to put forth the necessary time, financial funding, and skills to aid local establishments that are fully dedicated to making a positive difference. Our team volunteers and contributes to many philanthropic organizations such as:
Glenmark was conceived from the imaginations of two enterprising young men. Mark R. Nesselroad was a four-year employee for a nursing home company, Crossgates, Inc., where he began as a maintenance man and was steadily promoted to the position of facility administrator of Sundale Nursing Home in Morgantown, West Virginia. The two first met in 1978 when Glenn T. Adrian joined the maintenance staff of the nursing home facility. Both men worked hard and learned valuable lessons as they climbed the corporate ladder. Ambition and a desire for greater challenge led them to a vision of their own long term care company. Their dream, Glenmark Associates, Inc., a predecessor to Glenmark Holding Limited Liability Company, became a reality in August 1984.
The initial strategy of Glenmark Associates was to manage facilities for other owners, in addition to purchasing, constructing, and replacing facilities as capital could be raised. Within a year, they realized a need for their own construction company. This was deemed necessary to ensure that the quality maintenance, renovations, and construction that they demanded would be fulfilled. In 1985, the construction branch, Glenmark Corp., was formed with Fred Bierer at the helm. Later, Mike Saab joined the team as the construction and development arm of Glenmark grew.
The growth of Glenmark Associates between 1984 and 1995 was at a rapid pace. Mark and Glenn’s strong management philosophy that the employees worked with them and not for them had a direct bearing on the company’s success. The two men instilled their quality work ethics with those whom they worked and on the projects they developed. Between 1984 and 1995, Glenmark developed, constructed, owned, managed, and operated over $94 million and 750,000+ square feet in healthcare-related assets. By 1995, much more than a nursing home company, Glenmark Associates also owned office buildings, retail facilities, an institutional pharmacy, mobile x-ray unit, and medical supply.
History – Transition From Healthcare to Real Estate
Prior to its merger, Glenmark Associates owned, operated, or managed twenty facilities in West Virginia and one facility in Pennsylvania, with a total of approximately 1,700 beds, thereby making it the largest long-term healthcare provider in West Virginia, owning/operating one-third of the facilities in the state. In 1995, Glenmark Associates merged its health care assets with a publicly traded company, The Multicare Companies, Inc. (NYSE: MUL). Nesselroad was established as the Vice President of Acquisitions and Development as Adrian took on the position of Vice President of Operations for Multicare. Post-merger, Nesselroad and Adrian helped to build Multicare to a three hundred facility, multi-faceted health care firm by 1997. At this time, the company was sold to Genesis Health Ventures Inc. Nesselroad made the transition out of Genesis by 1998 to devote his full energies to the progress of Glenmark Holding LLC’s real estate development. Adrian remained with Genesis as President of the Allegheny-Midwest region until July 1, 2002. At the same time, under the direction of Nesselroad and Adrian, Bierer and Jeffrey Smith (Glenmark’s CFO at the time) continued the operation and development of the retail and commercial assets of Glenmark Holding Limited Liability Company, which was formed on March 13, 1996.
History – Glenmark Holding Limited Liability Company
Remaining faithful to their original vision of quality, Nesselroad and Adrian led Glenmark’s transition from a healthcare company to its current posture as a regional commercial real estate development, leasing, and management company headquartered in Morgantown, WV. In June 2011, Mr. Nesselroad purchased all of Mr. Adrian’s membership interests in Glenmark and, since then, has transferred non-majority membership interests to his son, Mark J. Nesselroad; thus, Glenmark’s principal owner and majority member is Mark R. Nesselroad. Mark R. Nesselroad obtained considerable business experience in constructing, owning, and operating long-term care facilities throughout West Virginia while operating Glenmark Associates. Mr. Nesselroad now devotes his energies to Glenmark and is responsible for guiding the daily operations and developing the growth of the company. Mark and his son, Mark J., confer regularly in regards to current operations and future plans and strategies.
Since 1995, Glenmark, its affiliates, subsidiaries, and principals have grown to where they have developed, owned, and managed over 1,880,000 square feet of property, and been responsible for over $315 million of construction and development of properties. Glenmark’s regional presence has included West Virginia, Pennsylvania, Ohio, Maryland, and South Carolina, as well as property types spanning nearly all sectors: power centers, business parks, Class A & B office, hospitality, retail, warehouse, light industrial, flex, governmental, mixed-use, land, healthcare, medical office-labs-pharmacies, data centers, mixed-use, residential, educational, recreational, private-public-partnerships, off-balance sheet, and build-to-suit properties.
Glenmark is or was also the managing member of the following current or former private placement syndications: GMH Properties, LLC (current owner of commercial properties located in Morgantown, WV), which was formed on November 14, 2008; Sterling Hospitality, LLC (former owner of Suburban Extended Stay located in Morgantown, WV; asset sold), which was formed on June 16, 2011; Ohio County Hospitality, LLC (former owner of Suburban Extended Stay in Triadelphia, WV; asset sold), which was formed on February 3, 2012; and Washington County Hospitality, LLC (current owner of Suburban Extended Stay located in Washington County, PA), which was formed February 24, 2014.
Glenmark and its principals also own an integral interest in Black Diamond Realty LLC, a commercial real estate brokerage located in Morgantown, West Virginia. As part of a strategic alliance with Glenmark, Black Diamond Realty LLC specializes in the brokerage of commercial property for sale or lease. Black Diamond Realty LLC, West Virginia’s finest commercial property brokerage, bases its sales philosophy on a set of four core tenets: a comprehensive approach to reaching goals, enduring commitment to its clients, the belief that each client is unique and deserves a customized experience, and a sense of connection within our community. With its resource network, dedicated agents, and their personalized approach, Black Diamond assists sellers, buyers, landlords, and tenants in meeting their goals with all types of commercial properties: office, retail, industrial, multifamily, land, flex space, and mixed use, among many other specialized sectors. Black Diamond Realty LLC is Glenmark’s preferred commercial brokerage. Please visit www.blackdiamondrealty.net for additional information about Black Diamond Realty LLC.
In 25 years, Glenmark has grown from a company owning a few properties to a company involved in the development, ownership, or management of numerous commercial properties. Currently, Glenmark’s day to day operations are managed by Mark R. Nesselroad with assistance from approximately fifteen full-time employees, including four certified public accountants, two WV general-contractor-qualified construction managers, a licensed attorney, and support staff. Today, Glenmark is proud to be a full service development, leasing, and management company that can provide all commercial real estate development, leasing, and management needs.
In addition, Glenmark is the managing member of a professional business consulting entity, GMH Capital, LLC, which was formed February 8, 2002. GMH Capital, LLC is wholly owned by Glenmark and Mark R. Nesselroad. GMH Capital, LLC begins with the concept or business challenge and develops it into a successful venture. Every project or business challenge is approached with careful analysis of the basic business principals, financial model, management, and marketing plan. As a seasoned and innovative professional consulting firm, GMH Capital, LLC offers vital support to clients in developing, executing, and facilitating all or part of their business plans, including but not limited to: new project development, efficient project vision, acquisition and development, complicated financing and capital solutions, problem solving, strategic project negotiations, re-development, troubled asset restructuring, budgeting, and finance. FCX Systems Inc. (www.fcxinc.com) is an example of a successful turnaround spearheaded by GMH Capital, LLC.
History – Higher Education, Student Housing & P3 Projects – Coastal Carolina
As part of its entry into the Myrtle Beach, South Carolina market, Glenmark established a relationship with Coastal Carolina University (“CCU”). This relationship kicked off with Glenmark assisting CCU in solidifying its collegiate golf program. In 2004, a Glenmark special-purpose entity acquired 180 acres improved with the 18-hole Quail Creek Golf Club and leased it to CCU. In 2010, Glenmark granted a conservation easement to CCU, sold the driving range portion of the golf course to CCU, and made a charitable contribution of the remainder of the golf course to CCU. This successful project fostered additional business with CCU.
Glenmark, through its consulting arm of GMH Capital, LLC entered into a Consulting Agreement in 2009 with the CCU Student Housing Foundation and Coastal Housing Foundation, LLC to assess construction, financial, and occupancy issues with nearly 1,000 beds of student housing that was constructed in 2005 and being managed by CCU. Glenmark provided the leadership and developed a team comprised of in-house financial and construction professionals combined with local experts to assess physical building and site issues, as well as occupancy and financial performance deficiencies. Glenmark additionally assisted CCU plan for industry-specific best practice management principles.
Simultaneously, Glenmark conducted substantial financial analyses and budgeting reports, to develop a plan to stabilize and turn around the project financially and operationally. Glenmark officials’ knowledge of the financial and lending markets strengthened the plan’s development and implementation, leading to a refinance the project, which stabilized within a year and became profitable enough to provide the ability to purchase an adjacent student housing complex of nearly 1,100 beds the following year. Glenmark coordinated the purchase negotiations, completed due diligence, and facilitated the integration plans, while arranging for the financing of the acquisition of the complex via tax-exempt bonds. Upon completion, the adjacent complexes were connected and successfully integrated operationally into one master CCU complex over the next year.
Thus, over the course of the consulting arrangement, GMH Capital provided consulting services regarding CCU’s existing but struggling student housing project, the purchase of additional existing student housing facilities, and the operational and financial management of the properties. As a result of said consulting services, the Housing Foundations now own and CCU manages student housing facilities in financial and operational harmony. This success caused GMH Capital, LLC to be retained as a part-time consultant thereafter relating to student housing facilities. In fact, Glenmark became familiar and gained confidence in development team partner Brailsford & Dunlavey, in 2011, when CCU used Brailsford’s services to conduct a preliminary financial and housing market analysis with regard to development of an additional 1,274 bed, $68 million project, which residence halls opened in 2015 and 2016. www.coastal.edu/shf www.coastal.edu/housing/
History – Higher Education, Student Housing & P3 Projects – West Virginia University
In 2015, WVU students moved into a state-of-the-art on-campus residence hall, apartment, and retail complex known as University Park, made possible via a public-private partnership with West Virginia University and University Park at Evansdale, LLC (“UPE”). As the private developer, UPE acquired 6.96 acres of land strategically located between WVU’s Evansdale Campus, Health Sciences Center and Ruby Memorial Hospital, College of Law, Alumni Center, and Mountaineer Field, which it sold to WVU. UPE and WVU entered into agreements, whereby WVU leased the real property to UPE, UPE was responsible for financing and constructing the improvements, WVU subleases and manages the residential premises, and UPE manages the commercial premises. The project budget totaled $112,540,000.00, with hard and soft construction costs accounting for $90 million. The 434,104 +/- square foot, 1,310 bed, on-campus mixed-use (student housing residence hall, apartment complex, and retail amenities) complex was constructed within an 18-month schedule on time and under budget. The residence hall consists of two 9 story buildings with a 2 story connector. Each floor of the towers has study and community rooms that overlook the Evansdale campus. It has 900 beds for freshman and resident assistants. The 2 story connector has several community and study rooms, 2 resident manager apartments, a 90-seat program room / lecture hall, laundry, mail center, and a grab and go café that is serviced by WVU Dining Services. Each of the two 5-story apartment buildings has 70 apartments, consisting of 1, 2, and 4 bedroom units (330 total beds). The fifth building is 4 stories, with the bottom floor being commercial space, and the top 3 floors are 1, 2, and 4 bedroom apartments (78 total beds). All of the units are fully furnished, and within walking distance to Mountaineer Field, WVU Hospital, Health Sciences Center, PRT Stations, and the Rec Center. Retail amenities comprise 15,037 square feet and include Park Place Grab-N-Go operated by WVU Dining Services, IHOP, Anytime Fitness, Smoothie King, Friendly Nails Salon, and American Dry Cleaners.
History – Higher Education, Student Housing & P3 Projects – WVU Medicine
In 2019, WVU Medicine opened its doors to a state-of-the-art inpatient recovery treatment center. This facility, which is the first of its kind in West Virginia, is the result of a partnership between West Virginia University Medicine and Recovery Properties LLC. Glenmark is the managing member of the development entity. The design and delivery method of this transaction is very similar to a public-private partnership, although WVU Medicine is not technically a public entity.
As the private developer, Recovery Properties acquired 13.43 +/- acres of land strategically located in a convenient and serene setting near the Mylan Park community and recreation complex Recovery Properties and WVU Medicine entered into agreements, whereby Recovery Properties was responsible for financing and constructing the improvements, and WVU Medicine manages and operates the comprehensive treatment center. The initial project budget totaled $12,954,000.00, and the facility opened on March 1, 2019 on time and under budget. WVU Medicine’s Center for Hope and Healing is a 29,305 +/- gross square foot inpatient substance abuse rehabilitation center with 44 beds (12 specifically for client detoxification unit purposes and 32 beds for recovery treatment purposes).
With a full staff of approximately 37 individuals, treatment targets all addicting substances, and the Center offers inpatient medication-assisted treatment for people who are addicted to opioids and other substances, such as alcohol. Given the population in West Virginia, alcohol and opioids are of most acute concern, however tobacco, amphetamines, cannabinoids, and other substances will most certainly be tackled. As such, a purpose of this center is to address the opioid addiction crisis we are facing in West Virginia. As the state’s flagship academic medical center, WVU Medicine has an obligation to lead efforts in trying to solve this problem.
The mission of the center is to help West Virginians and others from surrounding states who need access to a first-class program that offers recovery from addiction. It’s important to note that this is not a mental health hospital, and not a place where patients would be assigned treatment by the courts. It follows the Hazelden Betty Ford model of offering intensive first-class inpatient care in a 28-day program, and will be the first of its kind in the state. There is widespread acknowledgement of the opioid crisis in this state and the dire need and demand for treatment. A 28-day residential treatment center is the next step in the continuum of care that WVU Medicine already provides. This facility puts the final, missing piece in the entire spectrum of medical care for addiction services offered by WVU Medicine.
History – Glenmark Holding Limited Liability Company – Retail/Hospitality
Glenmark’s experience encompasses nearly all sectors. Glenmark’s accomplishments include, among others, three award-winning extended stay hospitality assets, the first power center in Morgantown (Glenmark Centre – 14 retail buildings (350,000 SF) on 65 acres (Lowe’s, Pier 1, Michael’s, Outback, Ruby Tuesday’s, Talbots, Wendy’s, banks, gas/c-store, etc.), Sabraton Plaza and Retail Centers (12 retail buildings (125,006 SF) on 15.73 acres; US Cellular, Advance Auto, Family Dollar, Save-A-Lot, Edward Jones, Allstate, Wendy’s, etc.), a retail center in Myrtle Beach, SC (146,000 square feet on 22.36 acres; Food Lion, Anytime Fitness, restaurants, etc.), a retail center in LaVale, MD (43,501 square feet on 8.5 acres; MedExpress, Advance Auto, AT&T, H&R Block, pharmacy, restaurant, etc.), Suncrest Executive Plaza (5-story / 80,000 SF building + 2-story / 18,000 SF building; 2 law firms, United Bank, Uno Restaurant, multimedia firm, accounting firm, and others), and numerous additional single and multi-tenant restaurant and retail buildings.
Summary – Glenmark Holding Limited Liability Company
Between 1984 and 1995, Glenmark developed, constructed, owned, managed, and operated more than 30 long-term care facilities and over $94 million and 750,000+ square feet in healthcare-related assets. Since 1995, Glenmark and its affiliates have developed, owned, and managed over $315,000,000 and 1,880,000+ square feet in power centers, hospitality, retail, business parks, Class A & B office, warehouse, light industrial, flex, governmental, mixed-use, land, build-to-suit, residential, recreational, private-public-partnership, and student housing properties in West Virginia, Pennsylvania, Maryland, and South Carolina.
Glenmark Holding Limited Liability Company is a proven leader, built on a reputation of integrity, innovation, and client satisfaction. Since 1984, Glenmark has grown through strict adherence to these principles and commitment to the highest degree of quality service for its clients. Our experience includes power centers, business parks, Class A & B office, hospitality, retail, warehouse, light industrial, flex, governmental, mixed-use, land, healthcare, medical office-labs-pharmacies, data centers, mixed-use, residential, educational, recreational, private-public-partnerships, off-balance sheet, and build-to-suit. Glenmark is a versatile company devoted to finding solutions through innovation and expertise. With our team’s extensive development, real estate, financing, accounting, construction, operational, and property management expertise, we will cooperatively work with you through a customized project approach that ensures adherence to quality, timeliness, and budget. Leveraging Glenmark’s abilities, as well as our relationships with lenders, architects, engineers, and professional vendors allows you to focus on your core competencies. Our priority is working with you to tailor a project structure that serves your assets, goals, and financial outcomes. Glenmark’s high-quality experience, capability, credentials, financial savvy, and stability will result in a project that exceeds your expectations.