Press Releases
Marcus & Millichap Brokers $11 Million Sale of Walmart Shadow Retail Portfolio in Mississippi and Tennessee
January 29, 2024
ATLANTA, Jan. 29, 2024 – 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 a Walmart Shadow Anchored portfolio in Mississippi and Tennessee. The two assets sold for a combined $10,997,212.
“The buyer on this transaction was a private, out of state, 1031 exchange investor who navigated difficult market challenges to get this closing done,” says Zach Taylor, senior managing director. “This sale represents the 57th transaction by our team within the Walmart shadow anchored sector.”
Taylor and Eric Abbott, investment specialists in Marcus & Millichap’s Atlanta office, had the exclusive listing to market the property on behalf of the seller, a Tennessee-based developer, and procured the buyer, a private syndication. Jody McKibben, Marcus & Millichap’s broker of record in Tennessee, assisted in closing the transaction.
The portfolio comprises two Walmart shadow retail centers located in the Chattanooga, Tennessee MSA and the Jackson, Mississippi MSA. The properties, totaling a combined 99,400 square feet, feature strong national tenants, including Dollar Tree, GameStop, Rainbow, and Verizon Wireless.
“The buyer on this transaction was a private, out of state, 1031 exchange investor who navigated difficult market challenges to get this closing done,” says Zach Taylor, senior managing director. “This sale represents the 57th transaction by our team within the Walmart shadow anchored sector.”
Taylor and Eric Abbott, investment specialists in Marcus & Millichap’s Atlanta office, had the exclusive listing to market the property on behalf of the seller, a Tennessee-based developer, and procured the buyer, a private syndication. Jody McKibben, Marcus & Millichap’s broker of record in Tennessee, assisted in closing the transaction.
The portfolio comprises two Walmart shadow retail centers located in the Chattanooga, Tennessee MSA and the Jackson, Mississippi MSA. The properties, totaling a combined 99,400 square feet, feature strong national tenants, including Dollar Tree, GameStop, Rainbow, and Verizon Wireless.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
