Marcus & Millichap : Closes Sale of Publix-Anchored Gateway Marketplace for $29 Million
October 04, 2022 at 02:22 pm EDT
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Marcus & Millichap Closes Sale of Publix-Anchored Gateway Marketplace for $29 Million
October 04, 2022
JACKSONVILLE, N.C., Oct. 4, 2022 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Gateway Marketplace, a 131,780-square-foot shopping center in Jacksonville, North Carolina. The plaza is anchored by Publix Supermarket, HomeGoods, Michaels, and Ulta Beauty, which encompasses 78% of the gross leasable area (GLA). The 16-suite asset sold for $29 million.
"There was a very broad spectrum of interested buyers in this extremely well-located Publix and HomeGoods-anchored center in the high-growth area of Jacksonville, North Carolina," said Lori Schneider, executive managing director in Marcus & Millichap's Fort Lauderdale office. "The number of cash buyers is indicative of today's market flush with equity to place in worthy deals." Schneider had the exclusive listing to market the property on behalf of the seller, and procured the buyer, Prestige Properties and Development LLC. Marcus & Millichap's David Gant also provided representation.
Gateway Marketplace, located at 3000 Western Boulevard, was constructed in 2019. "The property is occupied by an excellent mix of popular national and regional service tenants who report strong performance for their businesses at this shopping center," added Schneider.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
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Marcus & Millichap Inc. published this content on 04 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 October 2022 18:21:01 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
