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IGA Supermarket-Anchored Shopping Center in Jacksonville Sells for $5.75M

October 08, 2021

JACKSONVILLE, Fla., Oct. 5, 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 Marietta Square, a 64,736 SF grocery store anchored shopping center in Jacksonville, Florida, according to Ryan Nee, regional manager of the firm’s Miami office. The asset sold for $5,750,000.

Drew A. Kristol, Kirk D. Olson, Chad E. Atwood, and Simon V. Grigoryan, investment specialists in Marcus & Millichap’s Miami and Jacksonville offices, had the exclusive listing to market the property on behalf of the seller, an entity affiliated with Saglo Development Corporation (“Saglo”). The buyer, a private investor, was also secured and represented by Kristol, Olson, Atwood, and Grigoryan.

Saglo Development Corporation, a prominent Miami-based commercial real estate company, worked with Kristol and Olson on prior sales listings. “Once again, Drew, Kirk, and their team came through for us and did a great job managing the transaction through closing,” said Jack Glottmann, CEO of Saglo.

“We received multiple offers for Marietta Square from both local and out of state investors, which shows the strong demand for neighborhood grocery-anchored shopping centers in today’s market,” commented Kristol.

Marietta Square is located at 8299 W Beaver St in Jacksonville, Florida. The shopping center is anchored by Rowe’s IGA Supermarket and includes nationally recognized tenants Family Dollar, AutoZone, and several other local tenants.

 

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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.

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