Spring Lake, N.C. and Jackson, Miss. — Marcus & Millichap has arranged the $6.8 million sale of two retail properties totaling 53,000 square feet in Spring Lake, North Carolina, and Jackson, Mississippi. Built in 2004, Spring Lake Town Center totals 29,841 square feet and was 85 percent leased at the time of sale. A Walmart Supercenter shadow anchors the property, which features a mix of additional tenants including Dollar Tree, AT&T, GameStop, Cricket Wireless, Cato, Papa Murphy’s and OneMain Financial. The second property, a 24,069-square-foot retail center located at 4882-4898 Highway …
Mississippi
CrownPoint Partners Facilitates $3.6 Million Sale of Retail Property in Laurel, Mississippi
Laurel, Miss. — CrownPoint Partners has facilitated the $3.6 million sale of a retail property located at 2340 Highway 15 North in Laurel. Kroger occupies the 44,046-square-foot building, which includes a Kroger-operated fuel station. Situated across from Pine Tree Village Shopping Center, Kroger has operated at this location since 1982. Julius Swolsky and Shannon Bona of CrownPoint Partners represented the buyer, a subsidiary of Essential Growth Properties, in the transaction. Marcus & Millichap represented the seller, San Francisco-based Pacific Bay Investments, Inc. Trinity Capital Corp. secured financing for the acquisition …
Tupelo, Miss. — JLL Capital Markets has arranged the sale of Thompson Square, a 69,448-square-foot retail center located in Tupelo. Mishra Group acquired the property from Midland Atlantic Properties for an undisclosed price. The center was fully leased at the time of sale to tenants including Kroger, Enterprise, Buff City Soap, Republic Finance, Allstate and Chik-fil-A. Brad Buchanan, Jim Hamilton and Anton Serafini of JLL represented the seller in the transaction.
Ocean Springs, Miss. — Legacy Realty Group Advisors has arranged the $8.2 million sale of Spring Plaza, a 110,248-square-foot shopping center located in Ocean Springs. Winn-Dixie anchors the property. Jacob Baruch, Jonah Warshaw and Daniel Baruch of Legacy represented the buyer in the transaction. Dex Shill of NAI Latter & Blum represented the seller.
McComb, Miss. — Marcus & Millichap has brokered the $2.6 million sale of Delaware West Shopping Center, a retail center located in McComb. Harps Foods anchors the property, which totals 54,450 square feet and was leased to eight tenants at the time of sale. Zach Taylor and Eric Abbott of Marcus & Millichap represented the seller, a Tennessee-based developer, in the transaction. Mickey Davis, the firm’s broker of record, assisted in closing the sale.
D’Iberville, Miss. — Marcus & Millichap has arranged the sale of Barnett Plaza, a 107,288-square-foot shopping center located in D’Iberville. Constructed in phases between the late 1970s and 2008, the property is situated on 13.8 acres. Tenants at the center include Crunch Fitness and Saad Health Care. Andrew Chason and Stephen Sewell of Marcus & Millichap represented the undisclosed seller in the transaction. Mickey Davis assisted as the firm’s broker of record in Mississippi.
Pearl, Miss. — Marshalls will open a 21,160-square-foot store at Outlets of Mississippi, a retail outlet center located in Pearl, roughly five miles outside Jackson. Scheduled to open later this summer and marking the eighth location in the state, the store will be situated in a space formerly occupied by Saks OFF 5TH. Other tenants at Outlets of Mississippi, which totals 325,000 square feet, include Polo Ralph Lauren Factory Store, Nike, Cole Haan, Coach Outlet, Levi’s, Michael Kors, Gap Factory Store and Under Armour.
Matthews Brokers $20.1 Million Sale of Napa Auto Parts Portfolio
Los Angeles — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington, the properties are all occupied by Napa Auto Parts on a net-lease basis. Brandon Perez and Bill Pedersen of Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.
Corinth, Miss. — The Palomar Group has arranged the $3 million sale of Harper Square, a 40,000-square-foot shopping center located at 1801 S. Harper Road in Corinth. The property, which was redeveloped in 2018, was fully leased at the time of sale to Marshalls and Aldi. A private investment firm based in Georgia purchased the asset from an unnamed lender that recently foreclosed on the center. The Palomar Group represented the seller in the transaction.
Time Equities Acquires Three Shopping Centers in Maryland, Indiana and Mississippi for $23.4 Million
Glen Burnie, Md., Munster, Ind. and Jackson, Miss. — Time Equities Inc. (TEI) has acquired three shopping centers totaling 307,284 square feet in Maryland, Indiana and Mississippi for $23.4 million. Acquisitions include Harundale Plaza, a 217,619-square-foot, Lidl-anchored retail center in Glen Burnie, Maryland. The property was acquired for $16.4 million from SITE Centers and Limited Partners. Ryan Sciullo, R. William Kent, Matt Karempelis and Chris Decoufle of CBRE represented the sellers in the transaction. TEI also acquired Ridgewood Plaza, a 36,307-square-foot shopping center anchored by Applebee’s in Munster, Indiana, for …