Press Releases
Marcus & Millichap Facilitates $9.8 Million Shopping Center Sale to Complete Atlanta Portfolio Acquisition
February 26, 2024
HAMPTON, Ga., Feb. 26, 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 Centre at Lovejoy in Hampton, Georgia for $9,800,000.
"This transaction completed a two-property off-market portfolio sale of neighboring Walmart Shadow Centers in a growing Atlanta MSA," says Eric Abbott, senior associate. "Both centers were separately owned by different out-of-state Sellers."
Abbott and Zach Taylor, investment specialists in Marcus & Millichap’s Atlanta office, facilitated the sale to AGW Partners – a New York-based private investor on behalf of WRS Inc., a family office based in South Carolina.
Spanning 46,700 square feet, the shopping center is located at 11337 Tara Blvd., situated in a dense retail corridor. The property comprises 17 tenants, including Bank of America, GameStop, and Dollar Tree. This sale, and the neighboring center, equaled a total purchase price of $13,950,000 for 74,728 square feet of unanchored retail space.
"This transaction completed a two-property off-market portfolio sale of neighboring Walmart Shadow Centers in a growing Atlanta MSA," says Eric Abbott, senior associate. "Both centers were separately owned by different out-of-state Sellers."
Abbott and Zach Taylor, investment specialists in Marcus & Millichap’s Atlanta office, facilitated the sale to AGW Partners – a New York-based private investor on behalf of WRS Inc., a family office based in South Carolina.
Spanning 46,700 square feet, the shopping center is located at 11337 Tara Blvd., situated in a dense retail corridor. The property comprises 17 tenants, including Bank of America, GameStop, and Dollar Tree. This sale, and the neighboring center, equaled a total purchase price of $13,950,000 for 74,728 square feet of unanchored retail space.
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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.
