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Mobile, Ala. — Marcus & Millichap’s Chetek Group has arranged the $32.5 million sale of Eastern Shore Plaza, a 270,105-square-foot retail power center located in Mobile.
Built in 2004, the property was 96 percent leased at the time of sale to tenants such as Ross Dress for Less, Old Navy, Michael’s, PetSmart, Cost Plus World Market, Dollar Tree and Ashley Furniture. Brett Chetek and Alex Perez of the Chetek Group, along with Andrew Chason of Marcus & Millichap, represented the seller, a private Alabama-based development group. Michael Fasano is Marcus & Millichap’s broker of record in Alabama. The buyer was undisclosed.