Marcus & Millichap Sells Walmart-Anchored Retail Centers In Spring Lake NC And Jackson MS For $6.8M

The transaction involved the sale of two Walmart-anchored retail centers with a total area of 53,000 square feet, located at 4882-4898 Mississippi Highway 18 & 630 Lillington Highway, in the markets of Jackson, MS and Spring Lake, NC. The centers were sold for $6,800,000, providing a price per square foot of $128.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $6,800,000
• Square Footage: 53,000
• Address: 4882-4898 Mississippi Highway 18 & 630 Lillington Highway
• Market: Jackson, MS & Spring Lake, NC
• Leasing Rates: 85%
• Major Tenants: Dollar Tree, Humana, AT&T
• Brokers: Zach Taylor & Eric Abbott - Marcus & Millichap

Marcus & Millichap facilitated the transaction, representing a private real estate firm that sold the properties to a 1031 exchange investor. The involvement of Zach Taylor and Eric Abbott highlights the brokerage's role in managing the sale process.