Press Releases
Marcus & Millichap Announces $8.345 Million Sale of Anchored Retail Properties in Milledgeville Georgia
July 01, 2024
MILLEDGEVILLE, Ga., July 1, 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 Town Central Shopping Center in Milledgeville, Georgia. The assets sold for $8,345,000.
"This sale is a prime example of the robust demand for grocery-anchored retail centers with below-market rents,” says Zach Taylor, senior managing director of investments.
Taylor and Eric Abbott, investment specialists in Marcus & Millichap’s Atlanta office, had the exclusive listing to market Town Central Shopping Center on behalf of the seller, a Tennessee-based developer, and secured the buyer, a private investor. Robby Pfeiffer, investment specialist in the Atlanta office, exclusively listed Food Depot, a grocery-anchored retail property adjacent to the center, and collaborated with Taylor and Abbott to secure the buyer.
The 140,097-square-foot shopping center at 1850 N. Columbia St. boasts 100% occupancy with 10 tenants. The center is anchored by Tractor Supply and shadow anchored by the adjacent 54,765-square-foot Georgia grocery chain Food Depot, located at 1810 N. Columbia St. Situated in a major retail corridor with daily traffic counts of 37,500 vehicles, the properties are near Walmart, Lowe’s, Aldi, and more.
"This sale is a prime example of the robust demand for grocery-anchored retail centers with below-market rents,” says Zach Taylor, senior managing director of investments.
Taylor and Eric Abbott, investment specialists in Marcus & Millichap’s Atlanta office, had the exclusive listing to market Town Central Shopping Center on behalf of the seller, a Tennessee-based developer, and secured the buyer, a private investor. Robby Pfeiffer, investment specialist in the Atlanta office, exclusively listed Food Depot, a grocery-anchored retail property adjacent to the center, and collaborated with Taylor and Abbott to secure the buyer.
The 140,097-square-foot shopping center at 1850 N. Columbia St. boasts 100% occupancy with 10 tenants. The center is anchored by Tractor Supply and shadow anchored by the adjacent 54,765-square-foot Georgia grocery chain Food Depot, located at 1810 N. Columbia St. Situated in a major retail corridor with daily traffic counts of 37,500 vehicles, the properties are near Walmart, Lowe’s, Aldi, and more.
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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.
