Marcus & Millichap Facilitates $5M Sale Of Westgate Plaza Retail Center In Kinston, NC

Westgate Plaza, a 51,213-square-foot retail center located at 4150 West Vernon Avenue in Kinston, NC, has been sold for $5 million. The property is situated on 6.97 acres and was sold at a rate of $97.63 per square foot. With a total purchase price of $5,000,000, the property offers an opportunity for retail development in the Kinston market.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $5,000,000
• Address: 4150 West Vernon Avenue, Kinston, NC
• Market: Kinston, NC
• Acres: 6.97
• Price per Acre (PPA): $717,360
• Square Footage: 51,213
• Price per Square Foot (PPSF): $97.63

The sale of Westgate Plaza was facilitated by Marcus & Millichap, with Andrew Margulies and Harrison Creason serving as the brokers representing the property. This transaction demonstrates the active involvement of Marcus & Millichap in the retail market, showcasing their ability to broker significant deals in the Kinston area.