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 Winterville Town Center, a 32,255-square-foot retail property located in Winterville, NC, according to Benjamin Yelm, regional manager of the firm’s Raleigh office. The asset sold for $2,982,727.
Andrew Margulies and Harrison Creason, investment specialists in Marcus & Millichap’s Raleigh office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The listing team secured and represented the buyer, another limited liability company.
“Buyers were attracted to Winterville Town Center because of its highly visible corner location and strong essential business tenants,” noted Creason. “The seller was a local family partnership and the buyer was an out-of-state investor.”
Built in 2001, Winterville Town Center is located at 2535 Elaine’s Way in Winterville, NC. The property is 90 percent leased to three tenants – Harbor Freight Tools, Sherwin-Williams, and Elite Flooring – who have each been at the property for approximately 15 years and have executed several lease renewal options. Situated on a 2.60-acre lot at the hard corner signalized intersection of Winterville Parkway and Forlines Road, which sees 28,000 vehicles per day, Winterville Town Center is approximately one mile from one of Winterville’s main retail corridors. The major surrounding retailers include Sam’s Club, Chick-Fil-A, Starbucks, Chipotle and Aldi. Additional interest points in the area include downtown Greenville, East Carolina University and Pitt Community College, which are all located within seven miles of the property.
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.
