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 18 West in Jackson, is anchored by Walmart. Tenants include Humana, It’s Fashion and Shoe Show.
Zach Taylor and Eric Abbott of Marcus & Millichap marketed the property on behalf of the seller, a private real estate company, and procured the buyer, a private 1031 exchange investor, in the transaction. Donald Gilchrist is Marcus & Millichap’s broker of record in North Carolina, while Mickey Davis is the firm’s broker of record in Mississippi.