SPRING LAKE, N.C. AND JACKSON, MISS. — Marcus & Millichap has arranged the $6.8 million portfolio sale of two retail properties totaling 53,000 square feet in Spring Lake and Jackson. Walmart shadow-anchors both centers.
Built in 2004, Spring Lake Town Center totals 29,841 square feet and was 85 percent leased at the time of sale to tenants including Dollar Tree, AT&T, GameStop, Cricket Wireless, Cato, Papa Murphy’s and OneMain Financial. The second property is a 24,069-square-foot retail center located at 4882-4898 Highway 18 W in Jackson. Tenants include Humana, It’s Fashion and Shoe Show.
Zach Taylor and Eric Abbott of Marcus & Millichap represented the seller, a private real estate company, and procured the buyer, a private 1031 exchange investor, in the transaction. Both parties requested anonymity. Donald Gilchrist served as Marcus & Millichap’s broker of record in North Carolina, while Mickey Davis was the firm’s broker of record in Mississippi.