Marcus & Millichap Brokers $7.6 Million Sale of Lowe’s Property in Rockingham, North Carolina

Rockingham, N.C. — Marcus & Millichap has brokered the $7.6 million sale of a 129,529-square-foot retail store leased to Lowe’s Home Improvement in Rockingham. Realty Income, a net-lease REIT based in San Diego, purchased the property from the seller, an entity doing business as Tri City Rockingham LLC. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group brokered the transaction. The Lowe’s Home Improvement property is located at 1300-A E Broad Ave. “This transaction illustrates the demand for essential net-lease retail,” says McMinn. “Home improvement was one of the sectors that got a boost from the pandemic, and institutional and private capital are looking to deploy into these and other essential tenants.”

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