Marcus & Millichap Arranges $3.1 Million Sale of Hickory Shopping Center
HICKORY, NC, September 27, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Sherwin-Williams Shops, a 8,010-square foot retail property located in Hickory, North Carolina, according to Benjamin Yelm, regional manager of the firm’s Raleigh office. The asset sold for $3,130,000.
“There is strong demand for quality and well-located shopping centers, especially those that are outparcels to retailers like Sam’s Club and Walmart,” says Harrison Creason, senior associate. “Investors were particularly attracted to the strong credit of Sherwin-Williams which is a key tenant in the subject property. We received several competitive offers and the transaction closed at the seller’s asking price.”
Creason, along with Andrew Margulies and Benjamin Kapinos, had the exclusive listing to market the property on behalf of the seller, in addition to securing and representing the buyer.
Sherwin-Williams Shops is located at 2425 US Hwy 70 SE in Hickory, North Carolina. This retail strip was built in 2015 and features three strong tenants: Sherwin-Williams, Jersey Mike’s Subs and Mariner Finance.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.