Marcus & Millichap Brokers $5.5 Million Sale of Retail Center in Gainesville, Georgia

Gainesville, Ga. — Marcus & Millichap has brokered the $5.5 million sale of Washington Street Commons, a 73,618-square-foot retail center in Gainesville. The shopping center was leased to 15 tenants at the time of sale, including Bargain Hunt, El Patron, SalonCentric and World Finance. Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented both the buyer and seller in the transaction. Atlanta-based shopping center owner Mimms Enterprises sold Washington Street Commons. The buyer, Mark Nelkin of M.B.D. Properties, is a multifamily owner phasing out of apartment assets who was attracted to the yield that Washington Street Commons provides compared to apartments, according to Taylor.

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