Press Releases
Marcus & Millichap Arranges Sale of Two-Property Retail Portfolio in Southeast
June 23, 2025
ATLANTA, June 23, 2025 – 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 two-property retail portfolio totaling more than 53,000 square feet in Spring Lake, North Carolina, and Jackson, Mississippi. The portfolio sold for $6.8 million.
“These closings underscore the continued demand for necessity-based retail with strong national tenants, positive leverage and future growth opportunities,” said Zach Taylor, senior managing director investments.
Marcus & Millichap’s Zach Taylor and Eric Abbott exclusively marketed the property on behalf of the seller, a private real estate company, and procured the buyer, a private 1031 exchange investor, in association with Donald Gilchrist, Marcus & Millichap’s broker of record in North Carolina, and Mickey Davis, broker of record in Mississippi.
The first asset, Spring Lake Town Center, is located at 630 Lillington Highway in Spring Lake, North Carolina. Built in 2004, the 29,841-square-foot shopping center is 85% occupied and shadow-anchored by a Walmart Supercenter. Key tenants include Dollar Tree, AT&T, GameStop, Cricket Wireless, Cato, Papa Murphy’s and OneMain Financial. The property is positioned along a major commercial corridor near Fort Liberty, one of the largest military installations in the world.
The second asset is a 24,069-square-foot, fully occupied retail center located at 4882–4898 Highway 18 West in Jackson, Mississippi. Anchored by Walmart, the center includes a diverse national tenant mix, including Humana, Cato, It’s Fashion and Shoe Show. The property is home to the No. 1 most-visited Cato in Mississippi and the No. 5 most-visited It’s Fashion in the state.
“These closings underscore the continued demand for necessity-based retail with strong national tenants, positive leverage and future growth opportunities,” said Zach Taylor, senior managing director investments.
Marcus & Millichap’s Zach Taylor and Eric Abbott exclusively marketed the property on behalf of the seller, a private real estate company, and procured the buyer, a private 1031 exchange investor, in association with Donald Gilchrist, Marcus & Millichap’s broker of record in North Carolina, and Mickey Davis, broker of record in Mississippi.
The first asset, Spring Lake Town Center, is located at 630 Lillington Highway in Spring Lake, North Carolina. Built in 2004, the 29,841-square-foot shopping center is 85% occupied and shadow-anchored by a Walmart Supercenter. Key tenants include Dollar Tree, AT&T, GameStop, Cricket Wireless, Cato, Papa Murphy’s and OneMain Financial. The property is positioned along a major commercial corridor near Fort Liberty, one of the largest military installations in the world.
The second asset is a 24,069-square-foot, fully occupied retail center located at 4882–4898 Highway 18 West in Jackson, Mississippi. Anchored by Walmart, the center includes a diverse national tenant mix, including Humana, Cato, It’s Fashion and Shoe Show. The property is home to the No. 1 most-visited Cato in Mississippi and the No. 5 most-visited It’s Fashion in the state.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
