Marcus & Millichap Arranges $4.9M Sale of Shopping Center Near Myrtle Beach
MURRELLS INLET, S.C. — Marcus & Millichap has arranged the $4.9 million sale of an 18,035-square-foot, Publix shadow-anchored shopping center in Murrells Inlet. The seller, Columbia Prince Creek, developed the property in 2017 and previously sold the Publix in a separate transaction. Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented Columbia Prince Creek in the sale of the center to MH Commercial Real Estate Fund LLC.
“We were asked to assist in a parcellation exit strategy for the shopping center, which resulted in a more accretive exit price than a sale of the entire center would have achieved,” said lead agent Taylor. “To my knowledge, this is the first time this has ever been done with a new-construction Publix.”
Tenants at the time of sale included Edward Jones & Co., Tidelands Health and a Heartland Dental outparcel. The property is located at 11920 S.C. Highway 707, 13 miles south of downtown Myrtle Beach.