REBusinessOnline

Marcus & Millichap Brokers $7.5M Sale of Walmart-Anchored Shopping Center in Eastern Mississippi in Two Transactions

Bright-Fulton LP sold a 109,400-square-foot Walmart Supercenter and the surrounding 30,000-square-foot retail strip center in Fulton, Miss.

FULTON, MISS. — Marcus & Millichap has arranged the sale of a Walmart-anchored shopping center situated at 100 Interchange Drive in Fulton in two separate transactions. In the first deal, Bright-Fulton LP sold a 109,400-square-foot Walmart Supercenter to Bluejay Capital LLC, a private real estate investor based in New York, for $6.2 million. The property is triple-net leased to Walmart, which recently signed a new 10-year lease extension. On the same property, Bright-Fulton sold a 30,000-square-foot retail strip center that was 69 percent occupied at the time of the sale to tenants including Cato, Rent-A-Center, Shoe Show and AT&T. SJ Trust and DJ Trust, private local investors, bought the center for $1.3 million. Don McMinn and Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller in both transactions. The seller divided the property during the sale into two separate parcels to “achieve 50 basis points better than market pricing for the entire shopping center,” says Taylor.

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